Tether's U.S.-focused stablecoin grows over 500% in a month, but still lags main rivals

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Tether's U.S.-focused stablecoin grows over 500% in a month, but still lags main rivals

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Tether's U.S.-focused stablecoin, USAT, is experiencing rapid growth, with its market capitalization jumping over 500% in a month to above $140 million in April. Despite this surge, USAT still lags behind its main rivals, including Circle's USDC, PayPal's PYUSD, and Ripple's RLUSD tokens in terms of market presence and adoption.

USAT's market cap jumped above $140 million in April, though it remains well behind Circle's USDC, PayPal's PYUSD and Ripple's RLUSD tokens.