USDT dominance breaks 52%, highest since May 2022

Definition

This illustration shows the comparative dominance of the apical 4 stablecoins USDT , USDC , BUSD and DAI .

The dominance of USDT for illustration is calculated as USDT Dominance = USDT Supply / sum(USDT, USDC, BUSD, DAI)

Quick Take

• USDT dominance breaks 52%, the highest dominance since May 2022, conscionable earlier the Terra Luna collapse.
• Binance processed $1 cardinal successful withdrawals amid regulatory scrutiny connected BUSD has benefited USDT successful the process.
• BUSD dominance is presently 12%, down from 17% dominance backmost successful November 2022.
• USDC is heading towards 30% dominance.

Supply dominance: (Source: Glassnode)

The station USDT dominance breaks 52%, highest since May 2022 appeared archetypal connected CryptoSlate.