Stablecoin Tether is losing market share

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Stablecoin Tether is losing market share - report

's USDT on centralized exchanges is taking a step back, which makes its historical market capitalization questionable, according to recent findings from Kaiko Research.

Currently, the major USD and EUR-pegged stablecoins account for 82% of all crypto transactions, with fiat currencies constituting only 18%, Despite its dominance, USDT has seen its market share on centralized exchanges shrink from 82% to 69% this year. This shift is partly because of rising competition from FDUSD, which has gotten a boost on Binance with zero-fee trading.is grabbing a bigger slice of the market as more people are leaning towards regulated financial products in the crypto world. USDC's market share has shot up from less than 1% in 2020 to 11% today, Kaiko analysts wrote..

“Overall, algorithmic stablecoins carry higher regulatory and operational risks, including a potential ban in the US if the recent stablecoin bill is passed, which could impede their broader adoption,” the report concludes.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.

 

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