Tether Remains Stablecoin Market Leader Despite Increasing Competition

Tether continues to hold the reins of the stablecoin market, dominating with 66% share despite challenges from competitors like USDC and Ethena. This dominance is evident in its leading on-chain activity, surpassing even Uniswap. Key players like Tether, Circle (USDC), and Ethena (USDe) are shaping stablecoin dynamics. 2025 data reveals Tether’s market capitalization exceeding $220 billion, highlighting the sector’s significance in blockchain finance.