Definition
This chart shows the relative dominance of the top four stablecoins USDT , USDC , BUSD and DAI .
The dominance of USDT for example is calculated as USDT Dominance = USDT Supply / sum(USDT, USDC, BUSD, DAI)
Quick Take
USDT dominance breaks 52%, the highest dominance since May 2022, just before the Terra Luna collapse.
Binance processed $1 billion in withdrawals amid regulatory scrutiny on BUSD has benefited USDT in the process.
BUSD dominance is currently 12%, down from 17% dominance back in November 2022.
USDC is heading towards 30% dominance.
Supply dominance: (Source: Glassnode)
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