Tether’s Market Share Falls Below 60% in 2023

The stablecoin market is undergoing significant changes, with Tether seeing its market share drop below 60% for the first time since March 2023. This decline coincides with increased competition and evolving regulatory landscapes. Circle’s USDC is gaining traction, rapidly approaching a 30% market share. This shift is driven by several factors, including stricter compliance measures and technological advancements favoring competitors like USDC and Ripple’s RLUSD. The stablecoin landscape is becoming more dynamic, prompting users and institutions to consider more compliant options.