§ Unhindered by controversy over reserves and a NYAG investigation, Tether continued to dominate the stablecoin market in 2019.
o In 2019, the majority of new Tether issuance shifted away from Bitcoin and onto Ethereum (USDT_ETH) — which exacerbated congestion on the Ethereum blockchain
§ Excluding Tether, majority of the remaining growth came from USDC (+76% market cap) and Paxos (+50% market cap)
Fonte: Blockchain Capital
