Topic: Tether Dominates 98% of Stablecoins’ Daily Trading Volume: Report (Read 122 times)

Tether Dominates 98% of Stablecoins’ Daily Trading Volume: Report
Despite the criticisms of opaqueness and centralization leveled against Tether, the stablecoin which was initially known as RealCoin continues to beat its rivals by wide margins.

In a report titled The State of Stablecoins, digital assets tech firm Blockchain Luxembourg SA estimates that approximately 98% of the total daily trading volume of stablecoins is dominated by Tether. On a daily basis this translates to approximately 60% of the daily trading volume of Bitcoin.

With regards to market value, Tether comprises approximately 93% of the market cap of all stablecoins. Currently, the combined market capitalization of all stablecoins is approximately US$3 billion and this is around 1.5% of the entire cryptocurrency market.

Tier-1 Cryptocurrency Exchanges
Compared to other stablecoins Tether also boasts of being listed in the highest number of Tier-1 exchanges. Tether was listed on 6 Tier-1 exchanges compared to TrueUSD’s 5, SteemDollar’s 4, NuBits’ 2, BitBay’s 2, Gemini’s 2, Paxos’ 2, Numins’ 1, STASIS’ 1 and HelloGold’s 1. Overall, stablecoins are listed on a total of 50 exchanges and Tether is listed in at least 46 of them.

Blockchain’s report which analyzed 57 stablecoins (23 in live mode and 34 in the pre-launch phase) also revealed that investors were getting increasingly interested in stablecoins with venture funding totaling around US$350 million raised so far. Part of the venture funding was raised from established funds that include Andreessen Horowitz, Bain Capital Ventures, Google Ventures and Lightspeed Venture Partners
https://www.ccn.com/tether-dominates-98-of-stablecoins-daily-trading-volume-report/