Stablecoin Competition: USDT Dominance, Rising Newcomers
In 2024, the total market value of stablecoins surpasses $150 billion, with USDT still dominating the market with a 70% share, while USDC, DAI, and emerging offshore dollar stablecoins (such as HKDC) accelerate their pursuit. PYUSD launched by PayPal and institution-issued RWA stablecoins further enrich the options. Investors need to pay attention to: 1) Issuer reserve transparency; 2) Regulatory compliance; 3) Cross-chain liquidity. As the infrastructure of the crypto market, changes in the stablecoin landscape will impact the stability of the entire industry.
