Tether Remains Leader in the Stablecoin Market
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The stablecoin Tether (USDT) faced big problems last year after the collapse of the Terra ecosystem and its algorithmic token UST.
USDT temporarily lost its peg to the dollar, after which investors started to massively withdraw funds from this digital asset, but already at the end of last year, Tether again became a popular stablecoin, as it was able to stay in first place in the ranking of digital currencies pegged to the US dollar.
According to CoinGecko, the share of USDT is 51.31% of the total turnover of stablecoins, whereas the second place is held by USDC with a market share of 30.64%.
The total capitalization of stablecoins as of February 14 exceeded $137.2 billion, and Tether supply increased to $68.4 billion.
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