• Tether (USDT) holds a 71.4% market share, followed by USDC and Dai.
• Non-USD stablecoins constitute only 1% of the market.
• Market cap surged from $5.2B in 2020 to $150.1B in 2022, with gradual growth since.

In a recent revelation from the Real World Asset Report of 2024, the crypto market witnesses a significant dominance of USD-pegged stablecoins staying at the forefront of real-world asset (RWA) adoption within the digital economy.

The report’s key findings suggest that majority of the RWA market is currently occupied by stablecoins pegged to the US dollar. Topping the charts are Tether (USDT), boasting a staggering $96.1 billion market capitalization, closely trailed by USDC with $26.8 billion, and Dai at $4.9 billion. 

Notably, Tether maintains a commanding 71.4% market share keeping up its position within the space. USDC still struggles to reclaim its lost ground following a brief de-pegging incident during the US banking crisis of March 2023.

Diving deeper into the landscape, the report unveils a stark reality of minimal diversification beyond the USD-pegged stablecoins. Alternative fiat-backed stablecoins, such as Euro Tether (EURT), CNH Tether (C…

The post Insights from RWA Report 2024 Showcase USD Hegemony in Crypto appeared first on Coin Edition.

• Tether (USDT) holds a 71.4% market share, followed by USDC and Dai.
• Non-USD stablecoins constitute only 1% of the market.
• Market cap surged from $5.2B in 2020 to $150.1B in 2022, with gradual growth since.

In a recent revelation from the Real World Asset Report of 2024, the crypto market witnesses a significant dominance of USD-pegged stablecoins staying at the forefront of real-world asset (RWA) adoption within the digital economy.

The report’s key findings suggest that majority of the RWA market is currently occupied by stablecoins pegged to the US dollar. Topping the charts are Tether (USDT), boasting a staggering $96.1 billion market capitalization, closely trailed by USDC with $26.8 billion, and Dai at $4.9 billion. 

Notably, Tether maintains a commanding 71.4% market share keeping up its position within the space. USDC still struggles to reclaim its lost ground following a brief de-pegging incident during the US banking crisis of March 2023.

Diving deeper into the landscape, the report unveils a stark reality of minimal diversification beyond the USD-pegged stablecoins. Alternative fiat-backed stablecoins, such as Euro Tether (EURT), CNH Tether (C…

The post Insights from RWA Report 2024 Showcase USD Hegemony in Crypto appeared first on Coin Edition.