The stablecoin market has never looked more lopsided. Data from DefiLlama shows that Tether’s USDT ($183.4B) and Circle’s USDC ($72.7B) together hold roughly $256B, more than 85% of the total $302B stablecoin market. No other issuer comes close to the $5B threshold. The gap is not narrowing. It is widening. Ad Ad A Two-Horse Race
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