Tether still dominates stablecoins despite competition — Nansen

Despite growing competition from emerging issuers, the stablecoin market remains largely dominated by a few key players. According to data from Web3 research firm Nansen, Tether’s USDt continues to lead among US dollar-pegged stablecoins, even as competition intensifies. As of April 25, Tether (USDT) has a roughly 66% market share among stablecoins, compared to around 28% for USDC (USDC), Nansen said in the April 25 report.  Ethena’s USDe stablecoin ranks a distant third, touting a market share of just over 2% source: https://cointelegraph.com/news/tether-still-dominant-despite-competition-nansen?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound