$USDC $USDC The Oligopoly and Competitive Landscape of the Stablecoin Market

Presently, the stablecoin market distinctly displays oligopolistic traits, with stablecoins issued by Tether and Circle dominating approximately 90% of the market share. Nonetheless, as the market continues its evolution, new stablecoin initiatives are surfacing, gradually diversifying the competitive landscape. For instance, emerging projects such as FDUSD and USDe are actively vying for market share with their innovative mechanisms and distinctive features. In the future, competition within the stablecoin market will intensify, and those projects that excel in compliance, innovation, and user experience will be more likely to distinguish themselves