’s competitors have experienced contrasting fortunes in recent months. Take usd coin , for instance, which has witnessed a decline of 6.5% in its supply over the past month. BUSD has encountered a loss of 17.4%, while Makerdao’s DAI has fallen by 6.9%.
On the other hand, while tether witnessed a modest 2.7% increase, pax dollar saw a notable rise of approximately 13.8% within the same timeframe. Leading the pack in terms of supply growth over the past 30 days was GUSD, with the number of tokens soaring by 42.8%. Although GUSD and USDP have experienced notable growth over the past 30 days, they pale in comparison to the colossal stablecoin giant, tether. Moreover, tether’s market capitalization of $82.84 billion constitutes a significant 7.09% share of the crypto economy’s total value of $1.16 trillion in USD.
Furthermore, as of May 13, the entire crypto market boasts a global trade volume of $36.79 billion, with tether commanding a substantial $20.41 billion of that volume. Since January 2, 2021, tether’s market valuation has skyrocketed by 290.754% over the last 861 days.
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