The dominance of Tether (USDT) increased in of November 2021, although its market share in the crypto market was not as high as during the summer. Within the crypto world, this so-called "dominance" ratio is one of the oldest and most investigated metrices available. It measures the coin's market cap relative to the overall crypto market - for instance, it shows how strong Bitcoin is compared to all the other cryptocurrencies that are not BTC, called "altcoins".
Tether (USDT) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from March 2015 to June 19, 2024
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Statista, & CoinGecko. (June 19, 2024). Tether (USDT) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from March 2015 to June 19, 2024 [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1277923/tether-dominance-historical-development/
Statista, und CoinGecko. "Tether (USDT) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from March 2015 to June 19, 2024." Chart. June 19, 2024. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1277923/tether-dominance-historical-development/
Statista, CoinGecko. (2024). Tether (USDT) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from March 2015 to June 19, 2024. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1277923/tether-dominance-historical-development/
Statista, and CoinGecko. "Tether (Usdt) Market Dominance - Its Market Cap Relative to The Market Cap of All Other Cryptocurrencies in The World - from March 2015 to June 19, 2024." Statista, Statista Inc., 19 Jun 2024, https://www.statista.com/statistics/1277923/tether-dominance-historical-development/
Statista & CoinGecko, Tether (USDT) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from March 2015 to June 19, 2024 Statista, https://www.statista.com/statistics/1277923/tether-dominance-historical-development/ (last visited July 22, 2024)
Tether (USDT) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from March 2015 to June 19, 2024 [Graph], Statista, & CoinGecko, June 19, 2024. [Online]. Available: https://www.statista.com/statistics/1277923/tether-dominance-historical-development/