Non-Dollar Stablecoins Struggle to Gain Traction in Cryptocurrency Market

The stablecoin sector has experienced a surge in new issuances, but the data suggests that dollar-pegged giants like USDT and USDC remain dominant.

Liquidity is a key factor in this dominance, as many traders and institutions default to dollar-denominated markets due to convenience and familiarity.

Regulatory uncertainty also plays a role, with non-dollar issuers facing higher compliance costs per unit of volume, making it less attractive for market makers and institutions to integrate them.