Total supply of USD-pegged stablecoins reaches $165 billion, the highest level in two years

According to The Block Data Dashboard, the total supply of dollar-pegged stablecoins reached $165 billion as of the end of last week, which is nearly two years. The horizontal dollar-pegged stablecoin market has long been dominated by Tether's USDT and Circle's USDC, with USDT subscriptions accounting for about 70 percent of the market share.Ripple said earlier this month that by 2028, supply will reach $2.8 trillion.