Bullish Research Director: TON network native support for USDT will further consolidate its dominance in the stablecoin market

Sylvia To, head of research at Bullish, said Tether already dominates stablecoins, and its integration with the TON network could further boost its growth. Stablecoin issuance has grown significantly over the past six months, from $122 billion in October 2023 to $157 billion in April 2024. Data shows that among stablecoin providers, Tether (USDT) exceeds $100 billion, dominating the stablecoin market with a market share of more than 70%. The TON network announced in April that it would introduce native support for USDT, which could further boost USDT's market dominance. (CoinDesk)