Tether’s Market Share Declines Amid Regulatory Changes in Europe
- Tether’s USDT market dominance fell from 70% in November to 59.9% by October, marking two sub-60% readings within a year.
- Circle’s USDC increased its market share from 20.5% to 25.3% during the same period.
- Tether’s supply grew from $89.1 billion in November to $180.9 billion by October, despite the decline in market share.
- USDC’s supply surged from $24.3 billion to $76.3 billion, reflecting adoption in compliant jurisdictions.
- Tether invested in StablR and Quantoz to align with Europe’s MiCA regulations while maintaining USDT’s brand integrity.
The decline of Tether’s USDT dominance is attributed not only to regulatory pressures but also to the overall growth of the stablecoin market, particularly for compliant options like USDC and USDe.
Despite a reduction in percentage share, Tether’s absolute growth indicates strong demand, with nearly $50 billion added between November and October.(Source)
