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Tether’s USDT and Circle’s USDC account for about 85% of the total stablecoin market and are nearing a record high level, according to Crypto Briefing. Their combined circulating supply stands at about $257.7 billion, equal to 85% of the total market capitalization of roughly $302.9 billion.
Of that total, USDT has a supply of about $183.4 billion and a 60.5% share of the stablecoin market, maintaining a dominant lead. USDC stands at about $74.3 billion, giving it a 24.5% market share.