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Based on recent figures, USDT dominance dropped to nearly 60% on August 29. It is the weakest hold Tether has had since March 2023.
Nevertheless, USDT’s market cap is $168 billion and Circle’s USDC is $70.37 billion — both all-time highs. So the physical magnitude of the coins is greater, but the share of the market under each’s control is moving.
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According to figures from DefiLlama, the first half of 2024 saw USDT dominance at approximately 70%. USDC then had around 18% of the market.
That figure has risen and is now at approximately 30%. DAI, which used to capture about 3.5%, has dropped to 1.85%. These
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