Tether’s Stablecoin Dominance Drops Below 80% as Audit Controversy Lingers On

From news.bitcoin.com

The total volume of stablecoins in circulation is closing in on the $20 billion mark, while the market-leading coin, USDT’s share of the total circulating supply continues to shrink, data from Coinmetrics shows. According to the data, USDT now accounts for an estimated at 80% of total supply, and the majority of the coins are now issued on the Ethereum and Tron networks.

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Out of the total supply, the USDT-ETH accounted for approximately 53% while USDT-TRX took just over 20% of USDT’s total circulating supply. On the other hand, USDC, which has a market capitalization of $2.53 billion according to Markets.bitcoin.com, now constitutes 13% of the total circulating supply. […] Continue Reading

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