Total stablecoin supply surpasses $10B, growing more than 70% since February

Stablecoins • May 12, 2020, 5:50PM EDT

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%.

About Author

Celia joined The Block as a reporter after earning her BA in the History of Science from the University of Chicago. Having spent years pondering over why 2+2 cannot equal 5, she is interested in the history and philosophy of mathematics, computation, and cryptography. She also had a very brief stint at Crunchbase News.