According to Glassnode data, the stablecoin market continues to grow, with the combined market capitalization of the top five stablecoins surpassing $150 billion.
Leading the way is Tether (USDT) , which has a market capitalization of $112 billion — cementing its dominance with nearly 75% market share, a level not seen since January 2021. Tether's significant holdings in US Treasuries highlight its critical role in this acquisition. US debt.
Glassnode data shows that USDC, the second largest stablecoin, has a market capitalization of $32.2 billion. But its market share has declined from a peak of nearly 38% in July 2022 to 22% currently. This shift represents a change in trend in the stablecoin ecosystem, as investors show a growing preference for USDT.
Following USDC, DAI holds a market capitalization of $5.3 billion, maintaining its position as a reliable decentralized stablecoin. TrueUSD (TUSD) and Binance USD (BUSD) round out the top five with market caps of $503 million and $70 million, respectively.
The increasing market capitalization of these stablecoins highlights their growing importance in the digital asset economy, providing liquidity in the market. As Tether's dominance increases, its influence on the broader financial landscape, especially in terms of US debt acquisitions, becomes increasingly significant.
