Tether Dominates 98% of Stablecoins’ Daily Trading Volume: Report

Tether, the stablecoin which was initially known as RealCoin continues to beat its rivals by wide margins.

Despite the criticisms of opaqueness and centralization leveled against Tether, the stablecoin which was initially known as RealCoin continues to beat its rivals by wide margins.

In a report titled The State of Stablecoins, digital assets tech firm Blockchain Luxembourg SA estimates that approximately 98% of the total daily trading volume of stablecoins is dominated by Tether. On a daily basis this translates to approximately 60% of the daily trading volume of Bitcoin.

With regards to market value, Tether comprises approximately 93% of the market cap of all stablecoins. Currently, the combined market capitalization of all stablecoins is approximately US$3 billion and this is around 1.5% of the entire cryptocurrency market.

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