Stablecoin supply tops $300 billion but growth stalls as Tether gains at rivals’ expense
The Block·
60-second summary
The stablecoin supply has surpassed $300 billion, but growth is stalling due to Tether's market dominance. Bank-issued and GENIUS Act-compliant stablecoin entrants have faced a challenging start, struggling to gain traction. This slowdown is largely attributed to Tether's continued market share gains at the expense of its rivals, highlighting the intense competition in the stablecoin space.
The bank-issued and GENIUS Act-compliant stablecoin entrants have had a harder start than many expected.