As of August 31, 2023, Tether’s dominance in the stablecoin sector has fallen to 59.55%. This is a decline below 60% for the first time since March 2023.
The overall stablecoin market has surpassed 283 billion USD, indicating strong growth. Calling for new legislation like the GENIUS Act may further spur institutional adoption, potentially driving the market to reach 1.2 trillion USD by 2028.
Leave a Reply