Crypto: Tether Remains A Leader Despite The Rise Of Other Stablecoins
The stablecoin market is a booming sector. Competition is becoming increasingly intense. Nevertheless, one company remains the leader: Tether. The current dynamic could therefore transform the crypto landscape in the long term. Let’s take a closer look at recent developments!
In Brief
- Tether dominates the crypto stablecoin market with a 66% share, generating 14 billion in profits.
- USDC is experiencing rapid growth thanks to US regulation, but remains far behind Tether.
Tether maintains its dominance in the stablecoin market: the numbers are clear!
In April 2025, the market share of the crypto company Tether stood at 66%. This supremacy is reinforced by:
- massive adoption on cryptocurrency exchange platforms;
- a much higher usage than its competitors.
According to Nansen’s report, Tether indeed has nearly three times more users than Uniswap and 50% more transactions than the next platform.
The business model of this crypto company is based on the issuance of USDT in exchange for US dollars. These are then invested in very liquid and safe instruments such as US Treasury bonds.
In 2024, this strategy allowed Tether to generate nearly 14 billion dollars in profit. This exceptional profitability continues to guarantee it a leading position in the crypto asset field, even though competition is intensifying.
The rise of USDC in the crypto market: should Tether be worried?
Issued by Circle, the USDC is establishing itself as an increasingly serious competitor in the stablecoin market. Since November 2024, this crypto asset has indeed been experiencing notable growth. This is mainly explained by a more favorable US regulatory environment under the administration of Donald Trump.
That said, USDC remains behind Tether in terms of market share. It is valued at about 28% of the market as of April 25, 2025. The Nansen report specifies that institutions seek stability and liquidity. These are two criteria that Tether continues to meet in an unrivaled way.
Sure, USDC is rapidly gaining popularity. Moreover, other stablecoins are emerging. Nonetheless, Tether still seems far from being dethroned. However, the crypto market dynamic could change as new regulations and technologies affect the sector. Crypto investors will need to closely monitor these developments to adjust their strategy.
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My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.