The combined market share of leading stablecoins Tether (USDT) and Circle (USDC) has decreased to 86%, down from a peak of 91.6% in March 2024. This decline highlights a shift in the stablecoin landscape, driven by increased competition from new entrants and regulatory changes such as the GENIUS Act. Additionally, the trend of financial intermediaries issuing their own stablecoins is contributing to this shift. As infrastructure and cross-chain interoperability improve, the dominance of USDT and USDC is expected to face further challenges.
Tether and USDC Market Share Drops to 86% Amid Rising Competition
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