Bullish Head of Research: native support from TON Networks will cement USDT's market dominance

Tether is already dominating the stablecoin landscape and its integration with the TON (Telegram) network could push it further, says Sylvia To, Head of Research at Bullish. Over the past six months, stablecoin issuance has grown significantly, from $122 billion in October 2023 to $157 billion in April 2024, according to Tether. Among stablecoin providers, Tether (USDT) exceeds $100 billion and dominates the stablecoin market with over 70% market share. the TON network's announcement of the introduction of native support for USDT in April is likely to further boost USDT's market dominance.