Stablecoin's market cap soars to two-year high of $164 billion

Stablecoin's market capitalisation has surged to a two-year high of $164 billion, mainly due to the growth of Tether. Currently, USDT dominates the market with a 70% share, while USDC has a 21% share. Other stablecoins, including DAI, FDUSD and TUSD, have smaller market shares. Despite USDT's overall dominance, DAI and USDC lead in terms of on-chain volume, accounting for 58% and 22% of the total, respectively.