Data: Tether's stablecoin market share significantly increased to 71% in 2023

According to data from The Block, Tether, the issuer of USDT, increased its share in the global stablecoin supply from 50% to 71% in 2023. The number of circulating USDT stablecoins exceeded 95 billion.

Currently, Circle's USD stablecoin (USDC), Tether's main competitor, has only 27 billion in circulation while it surpassed 48 billion at the beginning of 2023.