{"id":9279,"date":"2025-08-29T17:23:02","date_gmt":"2025-08-29T17:23:02","guid":{"rendered":"https:\/\/bitunikey.com\/news\/tethers-grip-on-stablecoins-slips-below-60-for-first-time-since-2023\/"},"modified":"2025-08-29T17:23:08","modified_gmt":"2025-08-29T17:23:08","slug":"tethers-grip-on-stablecoins-slips-below-60-for-first-time-since-2023","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/tethers-grip-on-stablecoins-slips-below-60-for-first-time-since-2023\/","title":{"rendered":"Tether\u2019s grip on stablecoins slips below 60% for first time since 2023"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">USDT dominance is eroding as Circle and other stablecoin competitors fight for a share of the pie. <\/p>\n<div id=\"cn-block-summary-block_a8d033d12a9d8b07faecab78641c44fc\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>USDT dominance fell below 60% for the first time since 2023<\/li>\n<li>Circle\u2019s USDC is its primary competitor, nearing 30% dominance<\/li>\n<li>The passage of the US GENIUS Act is making the market more competitive <\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Competition among stablecoin issuers is growing. On Friday, August 29, USDT dominance fell to 59.45%, according to <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/defillama.com\/stablecoins\" target=\"_blank\">data<\/a> from DeFiLlama. This was the first time the key figure fell to these levels since March 2023, indicating that Tether may be losing its grip on the market. <\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Stablecoins by dominance since 2018 | Source: DeFiLlama<\/figcaption><\/figure>\n<p>Notably, in the first half of 2024, USDT dominance hovered around 70%. At the same time, Tether\u2019s main competitor, Circle\u2019s USDC, controlled just 18% of the market, a figure which is now close to 30%. On the other hand, DAI\u2019s dominance fell in that period, from around 3.5% to its current level of 1.86%. <\/p>\n<p>One standout performer this year is Ethena\u2019s USDe. Launched in December 2024, already reached 4.34% in dominance and a market cap of $12.275 billion. On the other hand, Trump World Liberty Financial\u2019s USD1 controls 0.88% of the market. <\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Tether faces regulatory issues in Europe, the U.S.<\/h2>\n<p>Tether is not just facing increased competition. With more countries issuing stricter rules on stablecoins, its USDT is at a disadvantage. So far, Tether has declined to comply with Europe\u2019s MiCA stablecoin framework, leading to its delisting on major exchanges. <\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"982\" height=\"299\" src=\"https:\/\/bitunikey.com\/news\/wp-content\/uploads\/2025\/08\/1756488182_706_Tethers-grip-on-stablecoins-slips-below-60-for-first-time.png\" alt=\"Top stablecoins by market cap\" class=\"wp-image-14410328\"><figcaption class=\"wp-element-caption\">Top stablecoins by market cap | Source: DeFiLlama<\/figcaption><\/figure>\n<p>Tether may soon face the same issue in the United States, which recently passed the GENIUS Act, which requires more transparency from stablecoin issuers. Still, despite a shift in market positioning, major players, including Tether, are on the rise. Both USDT and USDC are at record levels, at $168.43 billion and $70.378 billion, respectively. <\/p>\n<div class=\"cn-block-disclaimer\">\n<div class=\"cn-block-disclaimer__icon\">\n            <svg class=\"icon icon-info\" aria-hidden=\"true\"><use xlink:href=\"#icon-info\"><\/use> <\/svg>        <\/div>\n<p class=\"cn-block-disclaimer__content\">\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        <\/p>\n<\/p><\/div>\n<p><!-- .cn-block-disclaimer --><\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>USDT dominance is eroding as Circle and other stablecoin competitors fight for a share of the pie. Summary USDT dominance fell below 60% for the first time since 2023 Circle\u2019s&hellip;<\/p>\n","protected":false},"author":1,"featured_media":9280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/9279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=9279"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/9279\/revisions"}],"predecessor-version":[{"id":9281,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/9279\/revisions\/9281"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/9280"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=9279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=9279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=9279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}