💵Currently, the total market cap of all stablecoins stands at $168 billion USD, representing 8.2% of the cryptocurrency market.

The dominance of stablecoins, especially USDT (Tether), follows an intriguing trendline that could signal local selling opportunities for Bitcoin and altcoins. When stablecoin dominance starts rising again, whether through new supply issuances or conversions of cryptos into stablecoins as a form of protection, it may indicate a shift in the market.

Tether (USDT) dominates the market, accounting for 70% of all stablecoins, while USDC takes second place with 20.8%.

The combined dominance of Bitcoin and all stablecoins currently sits at 65.2%, showing a low interest in altcoins. As long as this metric continues to rise, it suggests that we are not yet in an Altcoin Season.

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