CoinGecko Releases Q2 Cryptocurrency Industry Report: USDT Holds 66% Share of Stablecoin Market, TUSD Market Cap Grows by 50.0%
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CoinGecko Releases Q2 Cryptocurrency Industry Report: USDT Holds 66% Share of Stablecoin Market, TUSD Market Cap Grows by 50.0%
CoinGecko released its Q2 cryptocurrency industry report, showing the top 5 stablecoins by market share: Tether (USDT) 66%, Circle USDC (USDC) 22%, Dai (DAI) 3%, Binance USD 2%, and True USD (TUSD) 2%. The market cap of USDT increased by 4.4% ($3.48 billion), accounting for 66% of the stablecoin market. TUSD recorded the highest growth, rising 50.0% ($102 million), after becoming Binance's default stablecoin and minting approximately $1 billion worth of TUSD on the Tron network during the second quarter of 2023. Besides the top five, other stablecoins also saw significant growth, with Gemini Dollar, flexUSD, and Paxos increasing their supply by 44.4%, 33.4%, and 30.0%, respectively.
Navigating Web3 tides with focused insightsTechFlow news, CoinGecko has released its Q2 cryptocurrency industry report. The top 5 stablecoins by market share are: Tether (USDT) 66%, Circle USDC (USDC) 22%, Dai (DAI) 3%, Binance USD 2%, and True USD (TUSD) 2%. USDT's market capitalization increased by 4.4% ($3.48 billion), accounting for 66% of the stablecoin market.
TUSD recorded the largest growth, increasing its market cap by 50.0% ($102 million), after becoming Binance's default stablecoin and minting approximately $1 billion worth of TUSD on the Tron network during the second quarter of 2023. Besides the top five stablecoins, others also saw significant growth, with Gemini Dollar, flexUSD, and Paxos seeing supply increases of 44.4%, 33.4%, and 30.0% respectively.
