Amidst Intensifying Competition, Tether's USDT Remains the Leader in the Stablecoin Market

According to the latest report from Web3 research firm Nansen, even as competition in the stablecoin market becomes increasingly fierce, Tether's USDT continues to dominate.

As of April 25, 2025, USDT accounts for as much as 66% of the stablecoin market share, leaving competitors far behind, with USDC only holding 28%.

Since Trump was elected in November 2024, the regulatory environment in the United States has gradually become more friendly to cryptocurrencies, allowing USDC to rapidly increase its market share.

However, despite USDC's impressive growth, Tether still holds a unique position in the market due to its vast user base and significant trading volume in on-chain activities.

From a profitability perspective, Tether stands out among stablecoin issuers.

In 2024, Tether's profits approached $14 billion, making it a veritable money printer in the industry.

Currently, traditional financial institutions like PayPal and Ripple are entering the stablecoin sector, further intensifying market competition.

But given the current situation, Tether's constructed market advantage is extremely solid, and its dominant position seems difficult to shake in the short term.