Report: Tether Still Dominates Stablecoin Market, USDC Accelerates Growth
2025-04-28 22:55:15
Despite increased competition, Tether's USDT still dominates the stablecoin market, according to a report by Web3 research firm Nansen. As of April 25, 2025, Tether's market share is around 66%, well ahead of USDC's 28%. Despite USDC's rapid growth since November last year, especially following Trump's election and the more crypto-friendly regulatory environments in the US, Tether still holds the market leadership position. Nansen said that despite USDC's faster growth, Tether still maintains an advantage due to its huge user base and trading volume in on-chain activities. Tether is also the most profitable stablecoin issuer, with profits approaching $14 billion in 2024. Despite the increased competition in the market, including the entry of traditional Financial Institutions Groups such as PayPal and Ripple, Tether's dominance seems difficult to shake.
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