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Tether dominates stablecoin market with almost 50% share

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On February 14, according to the data of The TIE and CoinGecko, the total market value of stable currency is about 138.5 billion US dollars, Tether\’s market sh…

Tether dominates stablecoin market with almost 50% share

On February 14, according to the data of The TIE and CoinGecko, the total market value of stable currency is about 138.5 billion US dollars, Tether’s market share is 49.39%, USDC is 29.76%, and BUSD is 11.63%.

Data: At present, the total market value of stable currency is about 138.5 billion US dollars

Analysis based on this information:


Stablecoin Market

In the world of cryptocurrencies, volatile prices and market fluctuations are a major concern for traders and investors. To address this concern, stablecoins were introduced as a type of cryptocurrency that minimizes price volatility by being pegged to a stable asset, usually a fiat currency like the US dollar. Stablecoins are used for trading, hedging, and as a store of value, and their popularity has been increasing in recent years.

Stablecoin Market Value

According to data provided by The TIE and CoinGecko, the total market value of stablecoins on February 14 was about 138.5 billion US dollars. This figure represents a significant increase from previous years, reflecting the growing demand for stablecoins in the cryptocurrency market.

Tether Dominates Stablecoin Market

Out of the total market value of stablecoins, Tether (USDT) holds the largest market share of 49.39%. This means that almost half of the entire stablecoin market is dominated by Tether. The popularity of Tether is due to its early adoption, wide distribution, and usage across various cryptocurrency exchanges. Tether is also widely used by traders for arbitrage opportunities and as a safe haven in times of high volatility.

USDC and BUSD

The second-largest stablecoin in terms of market share is USDC, with 29.76%. USDC is an Ethereum-based stablecoin backed by the US dollar and has gained popularity due to its transparency and auditability. USDC is used for trading and payments, and its popularity has grown as more exchanges have started offering it as a trading pair.

Binance USD (BUSD) holds a market share of 11.63%, making it the third-largest stablecoin in the market. BUSD is backed by the US dollar and is issued by Binance, one of the largest cryptocurrency exchanges in the world. BUSD is also used for trading and as a means of payment on the Binance exchange.

Conclusion

Stablecoins have become an important part of the cryptocurrency ecosystem. The total market value of stablecoins has increased significantly over the years, reflecting the growing demand for stable and secure assets in the volatile cryptocurrency market. Tether remains the dominant player in the market, with almost 50% market share, while USDC and BUSD are gaining popularity due to their transparency and backing by reputable organizations.

Keywords:
Stablecoin market, Tether, USDC, BUSD.

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