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At the moment, Tether (USDT) still holds the status of the largest stablecoin. Its capitalization now exceeds $68.429 billion.
This coin is most popular among bitcoin traders. 49% of transactions with BTC are carried out in pairs with USDT. The second and third places are occupied by ether (ETH) and the US dollar (USD).
Note. that Tether is primarily used by investors from the Asia-Pacific region. Local traders prefer to enter USDT if the market is dominated by bearish sentiment. If bitcoin starts to increase in price, then investors can quickly purchase cryptocurrency for Tether.
The closest competitor to USDT is the USD Coin (USDC) coin, developed by the Circle startup. The offer of this stablecoin in January 2021 was about $4 billion, now it exceeds $33.2 billion. This token is in the greatest demand among American traders.
Recently, the Messari team released a study in which it predicted that USDC could become the most popular ethereum-based stablecoin. This coin has already proved to be more popular than Tether on the ETH blockchain.
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