June 15 (Cointime) - Recent data from Glassnode shows that Tether's dominance in the stablecoin market has increased to 67.6%, while USD Coin and Binance USD have lost market share. The supply dominance of a stablecoin refers to the percentage of the total supply of the largest stablecoins being contributed by a given stable.

The decline in USDC's dominance can be attributed to the FUD surrounding the Silicon Valley Bank debacle, which caused investors to panic-redeem their USDC. As a result, Tether has been picking up market share, leading to its dominance hitting its highest value since May 2021 at 67.6%.