USDC dominance index for the year fell to 23%

Against the backdrop of macroeconomic risks, many cryptocurrency investors began to reallocate their capital in favor of stabelcoins. The advantage of such instruments is that they are backed by dollars.
The main beneficiary was Tether (USDT). It was the one that attracted the maximum amount of capital. Its market supply increased to the highest level since spring 2022.
USDT dominance index reached 65.89%. A year ago, Tether’s share of the stabelcoin market was just over 47%.

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