Stablecoin shake-up as Tether expands and USDC retreats

2023-11-15 13:45

Quick Take

The stablecoin landscape is witnessing a significant divergence as Tether (USDT) and USD Coin (USDC) continue on distinct trajectories. The circulating supply of USDT has recently crossed the 87 billion mark, highlighting its dominant market presence among the top five stablecoins. Notably, its burgeoning dominance is about to reach a whopping 72%, a pinnacle last seen in the early months of 2021.

Conversely, USDC’s supply has shown a downward trend, dropping below the 24 billion mark. This divergence between the two major stablecoins underscores the shifting dynamics in the digital currency ecosystem.

Top 5 Stablecoins Supply: (Source: Glassnode)

Additionally, approximately 13.5 billion USDT are now held on exchanges, marking a near doubling from the lows experienced in March 2023. This rise in exchange-held USDT points towards a potential increase in liquidity and trading activities within the crypto ecosystem.

USDT Exchange Balance: (Source: Glassnode)

While the total value of coins held on exchange addresses currently hovers around $17.5 billion, it has remained relatively stagnant since April. Interestingly, it experienced a substantial plunge in the fourth quarter of 2022, falling from $40 billion to $18 billion by June 2023.

Stablecoin Exchange Balance: (Source: Glassnode)

The post Stablecoin shake-up as Tether expands and USDC retreats appeared first on CryptoSlate.

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USDx stablecoin (USDX) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 1.62 %
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stablecoin usdt usdc tether billion crossed mark

Источник: cryptoslate.com

stablecoin usdt → Результатов: 126


Фото:

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More than $84 million worth of the controversial stablecoin Tether (USDT) has just been transferred to the Malta-based cryptocurrency exchange OKEx. With some commentators alleging that USDT is being used to artificially prop up the price of Bitcoin, the funds arriving at the trading venue today may have been partly responsible for the latest price […] The post Bitcoin Price Pumps Following $84M Tether Deposit to OKEx appeared first on BeInCrypto.

2019-12-5 16:43


Is Tether’s Centralized USDt Market A Cause For Worry? 104 Wallets Control 70% Of The Supply

Tether the parent company behind the leading stablecoin in the cryptocurrency market USDT has been at the center of the ongoing controversy regarding its role in manipulating Bitcoin prices. Now the on-chain metrics of tether revealed another worrying stat which suggested that 70% of the total market supply of USDT is controlled by just 104 […]

2019-10-16 20:07


Best Tether (USDT) Wallets: Best Solutions for Hardware, Desktop, iOS and Android

Tether is the first and by far most popular stablecoin. According to CoinMarketCap, USDT activity reached an all-time high in August with a market cap exceeding $4 billion. Tether is reportedly used in between 40-80 percent of all transactions on the exchanges Huobi and Binance, the latter of which now offers loans based on USDT […]The post Best Tether (USDT) Wallets: Best Solutions for Hardware, Desktop, iOS and Android appeared first on CaptainAltcoin.

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Фото:

Bitfinex Refutes Study Linking Tether (USDT) Issuance to Market Manipulation

Bitfinex has publicly stated that they have caught wind of an unpublished paper that wrongly accuses the Tether stablecoin of being a main force behind the cryptocurrency bull market. The exchange has disputed these conclusions and claims that said the study is based on cherry-picked data and unrealistic assumptions, October 6, 2019.

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