The post Tether’s Market Share Drops Below 60% Amid Growing Competition appeared on BitcoinEthereumNews.com. Key Points: Tether’s dominance falls as competition increases, impacting the stablecoin market dynamics. Tether’s share drops to 59.55% for the first time since March 2023. Institutional adoption rises; stablecoin market value projected to hit $1.2 trillion by 2028. Tether’s market share in the stablecoin sector fell below 60% for the first time since March 2023, signaling shifts in the competitive landscape. Rising competition from Circle and new entrants, alongside institutional involvement, pressures Tether, potentially reshaping the stablecoin market towards a projected $1.2 trillion by 2028. Tether’s Market Share Falls to 59.55% Amid Intense Rivalry The stablecoin market, reaching a record valuation of $283 billion, witnesses Tether’s market share falling to its lowest at 59.55% since March 2023. Paolo Ardoino, CEO of Tether Holdings Ltd., emphasized their focus on transparency amid rising competition. New entrants like Ethena (USDe) and USD1 amplify this dynamic. USDC’s expansion to nearly 30% market share and institutional players like Bank of America joining the fray increase the complexity in the stablecoin sector. Regulatory shifts and new blockchain protocols like those on Tron are pivotal to these changes. “As we navigate through these changes in the stablecoin market, Tether remains committed to transparency and compliance, recognizing that competition will only intensify from here on out.” – Paolo Ardoino, CEO, Tether Holdings Ltd. Stablecoin Sector Advances: Regulation and Blockchain Influence Did you know? Tether’s market share drop below 60% is a significant milestone last observed in March 2023, reflecting dynamic competition and regulatory shifts shaping the stablecoin sector. Tether USDt (USDT) currently trades at $1.00 with a market cap of approximately $167.58 billion. Stablecoin market dynamics reshape with Tether’s trading volume at approximately $71.59 billion. CoinMarketCap recorded a 24-hour price dip by 2.83%, defining existing trade and market sentiment trends. Tether USDt(USDT), daily chart, screenshot on CoinMarketCap at… The post Tether’s Market Share Drops Below 60% Amid Growing Competition appeared on BitcoinEthereumNews.com. Key Points: Tether’s dominance falls as competition increases, impacting the stablecoin market dynamics. Tether’s share drops to 59.55% for the first time since March 2023. Institutional adoption rises; stablecoin market value projected to hit $1.2 trillion by 2028. Tether’s market share in the stablecoin sector fell below 60% for the first time since March 2023, signaling shifts in the competitive landscape. Rising competition from Circle and new entrants, alongside institutional involvement, pressures Tether, potentially reshaping the stablecoin market towards a projected $1.2 trillion by 2028. Tether’s Market Share Falls to 59.55% Amid Intense Rivalry The stablecoin market, reaching a record valuation of $283 billion, witnesses Tether’s market share falling to its lowest at 59.55% since March 2023. Paolo Ardoino, CEO of Tether Holdings Ltd., emphasized their focus on transparency amid rising competition. New entrants like Ethena (USDe) and USD1 amplify this dynamic. USDC’s expansion to nearly 30% market share and institutional players like Bank of America joining the fray increase the complexity in the stablecoin sector. Regulatory shifts and new blockchain protocols like those on Tron are pivotal to these changes. “As we navigate through these changes in the stablecoin market, Tether remains committed to transparency and compliance, recognizing that competition will only intensify from here on out.” – Paolo Ardoino, CEO, Tether Holdings Ltd. Stablecoin Sector Advances: Regulation and Blockchain Influence Did you know? Tether’s market share drop below 60% is a significant milestone last observed in March 2023, reflecting dynamic competition and regulatory shifts shaping the stablecoin sector. Tether USDt (USDT) currently trades at $1.00 with a market cap of approximately $167.58 billion. Stablecoin market dynamics reshape with Tether’s trading volume at approximately $71.59 billion. CoinMarketCap recorded a 24-hour price dip by 2.83%, defining existing trade and market sentiment trends. Tether USDt(USDT), daily chart, screenshot on CoinMarketCap at…