Tether's USDT, a popular stablecoin, has reached a new record supply high of $156.1 billion. Here we explore the details and current trends in this sector.
Total USDT Supply Volume
On June 22, 2024, USDT's outstanding supply hit an all-time high of $156.1 billion. Notably, 90% of this supply is concentrated on two primary networks: Ethereum and Tron.
Comparison with USDC and Other Stablecoins
Over half of USDT stablecoins, 50.47%, are now on Tron, while almost 40% are on Ethereum. Less than 10% of the supply is distributed across other blockchains, including BNB Chain, Solana, and Avalanche. Meanwhile, Circle’s USDC has gained traction on many smaller chains but has yet to surpass USDT's dominance.
Future Prospects for USDT
While Tether chose not to comply with the new MiCA regulations, its market leadership remains stable. The company's strategic focus is particularly aimed at Asia, where USDT continues to be a preferred option for crypto payments.
As USDT maintains its dominance in the stablecoin market, its future could face risks due to regulatory changes. However, for now, Tether retains its leading position.
