Total stablecoin supply surpasses $10B, growing more than 70% since February
May 12, 2020, 5:50PM EDT
1 min read
The total stablecoin supply hit an all-time high of $10.4 billion on Tuesday, crossing the $10 billion mark for the first time.
Tether still dominates the stablecoin sector with 85.1% of the market share and over $8.8 billion in total supply. USDC ranks second with 7.2% of the market share.
The total supply has seen a steep upswing in 2020 thus far, surging by 79% since the beginning of February, according to The Block's research findings. Alongside the overall growth, Tether's market dominance also grew from 82% in early February to 85%.
The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana.
We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come.