Report: Tether (USDT) Is Still the King of Stablecoins

Despite the explosion of stablecoins launching in 2018, Tether (USDT) continues to dominate as Tether accounts for 98% of the total daily trading volume of all stablecoins, as well as 60% of Bitcoin’s daily trading volume.

This data comes from a recent report by Blockchain, a leading European cryptocurrency wallet provider, that reviewed the 57 active stablecoins, including both live and pre-launch projects, using a new data set that includes previously non-public information.

The report reveals over $350 million in funding has been committed to date from established firms such as Google Ventures (GV), Andreessen Horowitz, Lightspeed Venture Partners and Bain Capital Ventures.

In the last few weeks alone, Circle launched the dollar-pegged USD Coin (USDC), Gemini, launched the Gemini dollar (GUSD), and Andreessen Horowitz invested $15 million into MakerDAO (MKR), the creator of stablecoin Dai (DAI).

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