While the quantitative value of stablecoins does not change as the crypto markets fall, their overall market value is declining. Tether (USDT)continues to dominate its competitors as it rises to the 3rd rank in the entire crypto market.
Platform that collects data on crypto markets CoinMetricsdiscussed the stablecoin competition on centralized exchanges with a new chart. Tether continues to capture the market share of its competitors, according to data released by CoinMetrics today.
As of today, the market value of stablecoins is around $130 billion. Tether is giant stablecoin dominates 70% of the market.
It ranks second in the stablecoin market. Binance USD (BUSD) taking. The exchange announced last month that it will delist some stablecoin trading pairs to increase the use of BUSD. If BUSD USDC and DAI following.
Although the effects of Binance’s decision are not reflected in the overall picture, a clear change is seen when the stablecoins on the ETH network are examined. Messari announced that USDC’s share of the ETH market has declined to 39% after the Binance news.
Stablecoins have been on the agenda of government officials in Europe and the USA lately. States, which are very uncomfortable with the independence of stablecoins, have a central bank of their own. digital currency (CBDC) continues to work to create
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