Tether’s USDT hegemony in the stablecoin market may shift as institutional investors chip into the crypto market.
Tether has long dominated the stablecoin sector thanks in large part to USDT’s status as the first fiat-backed stablecoin.
However, new serious competitors have entered the stablecoin market over the past several years, giving USDT (USDT) a run for its money.
Since 2024, the transaction volume of Circle’s stablecoin, USD Coin (USDC), has been on the rise.