USDT Dominance Jumps 88% YoY, Tops July 2024 and 2025 Levels
Stablecoin dominance is the cleanest read on risk appetite in crypto, and the move higher says traders are parking capital in $USDT rather than rotating into $BTC and alts.
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Stablecoin dominance is the cleanest read on risk appetite in crypto, and the move higher says traders are parking capital in $USDT rather than rotating into $BTC and alts.
The headline number is the split itself: $174B-plus of stablecoin value settling on one chain is a concentration event, not a market-share update.
A $2.125T total market cap sits well off 2025 highs and below 2021's print, with the channel expecting a summer lull before a possible late-year low and a 2027-2028 recovery.
Stablecoin dominance has nearly doubled since the crypto market's September 2025 peak, but the supply behind that surge…
The bounce off the 54% floor reclaims ground lost to the altcoin rotation through late 2025, but staying below the 62% peak leaves the rotation trade structurally intact.