Tether Market Cap Soars $2B Since March — Biggest Monthly Inflow Ever
While Tether (USDT) is currently the most popular stablecoin by far when it comes to trading volume and market capitalization, the latest Exchange Review from CryptoCompare shows that other stablecoin projects such as USD Coin (USDC), Paxos Standard (PAX) and TrueUSD (TUSD) have gained modest ground in the last few months, reducing USDT’s market share in monthly Bitcoin (BTC) volume traded into stablecoins from approximately 98% in July 2019 to 92% in March. Source: CryptoCompare
USDT still dominates stablecoins and fiat
While USDC and PAX have gained some market share over the last few months, especially in February, the BTC–USDT pair still represents the majority of BTC traded into stablecoins with an overwhelming 92% of the volume, approximately.
USDT saw over 21 million BTC in volume during March and now represents 73% of total BTC traded into fiat or stablecoin. Source: CryptoCompare
Other stablecoins are also beginning to surpass major fiat pairs, with both USDC and PAX overtaking the pairs of BTC–euro and BTC–South Korean won in terms of total volume.
