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%.