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USDT market share jumps amid economic uncertainty, USDC shrinks
The market dominance of stablecoins pegged to the United States dollar has undergone some changes over the past year. While most of them are in a downward trend, (USDT) has climbed back to its all-time high, data from CoinGecko shows.
In the past 12 months, Circle’s (USDC) has seen its market share decline from 34.88% to 23.05% at the time of writing. Market participation of Binance USD (BUSD) plunged from 11.68% to 4.18% in the same period, while Dai (DAI) held its participation rate at 3.66%, down from 4.05% in May 2022.
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