Stablecoin Dominance Charts
How USDT, USDC, and the top 10 stablecoins have shifted their share of the total market from Apr 2025 to Apr 2026. Dominance is calculated as each coin's market cap as a percentage of total stablecoin market cap.
USDT Dominance Over Time
Tether (USDT) percentage of total stablecoin market cap. USDT has consistently held above 60% of the market.
USDC Dominance Over Time
USD Coin (USDC) percentage of total stablecoin market cap, showing how Circle's stablecoin has grown its share.
USDT vs USDC Dominance
Both USDT and USDC on the same chart, showing the dominance gap and how it has evolved.
USDT vs USDC Market Cap ($B)
Raw market cap comparison between USDT and USDC in billions of USD.
Combined USDT + USDC Share
USDT and USDC together versus all other stablecoins. The duopoly's grip on the market over time.
USDT / USDC Market Cap Ratio
How many times larger USDT is than USDC. A ratio of 2.0× means USDT is twice the size of USDC.
Stablecoin Market Concentration Index (HHI)
The Herfindahl-Hirschman Index (HHI) measures market concentration. Calculated as the sum of squared market share percentages × 10,000 across all tracked stablecoins. Used by regulators and economists to assess monopoly risk. Thresholds: below 1,500 = competitive · 1,500–2,500 = moderately concentrated · above 2,500 = highly concentrated. No other stablecoin data platform publishes this as a time series.
Top 5 Stablecoins — Dominance %
Market cap share for USDT, USDC, DAI, USD1, and PYUSD. Shows how smaller stablecoins are gaining ground.
Market Share — Latest Snapshot
Doughnut chart of the top 10 stablecoins by market cap share as of the latest data snapshot.