2026-01-17 11:38:00

The stablecoin market is getting crowded—over 300 options are circulating right now. Sounds crazy, right?

Here's what's driving this explosion: stablecoins are an absolute cash cow. The business model is too lucrative to ignore, so everyone and their dog wants a piece of it.

But here's the thing—USDT maintains 60% dominance, and that's not by accident. While other stablecoins are frantically chasing market share through yield strategies, USDT focuses on what actually matters: trust and liquidity. Most competitors have essentially turned into yield-farming platforms, constantly pushing higher APY as their main selling point.

It's a race to the bottom. Every new stablecoin thinks the answer is "offer bigger yields than the last guy," but that's not sustainable. Meanwhile, USDT just sits there, actually getting used for what stablecoins were designed for—being stable and liquid across every major exchange and protocol.

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OnChainDetective

· 6h ago

300 stablecoins? On-chain data shows that the transfer frequency of USDT address clusters is 6.3 times that of competitors. This is not a coincidence; it's suppression. Other cryptocurrencies rely on high APY to survive, essentially siphoning retail liquidity. I've been monitoring these institutional wallets for a long time. Behind the 60% share of USDT lies genuine trading depth and trust in clearing counterparties—this is real hard currency. The yield farming model will collapse sooner or later.

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MemeCurator

· 6h ago

300 types of stablecoins? That's hilarious, it's really competitive, and in the end, USDT still wins effortlessly.

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APY_Chaser

· 6h ago

Haha, really, over 300 stablecoins? These people are crazy, just for a tiny profit from yield farming.

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BlockchainDecoder

· 6h ago

300 stablecoins? That's really exaggerated, but research shows that most of them are just pure yield farming schemes. Overall, the fact that USDT holds 60% of the market share actually reflects a very interesting phenomenon—while everyone is playing the APY number game, very few are actually doing the right thing. From a technical perspective, liquidity is the real moat, not those illusory yield promises. An interesting point is that these types of projects have essentially deviated from what stablecoins should be doing and have become second-rate DeFi products.

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