Defillama analysts said that Tether Stablecoin retains the dominant role in the European digital asset market, despite regulatory challenges and industry competition.

By data Defillama, capitalization of the stabiblcoin market exceeded $ 226 billion, demonstrating weekly growth of $ 2.4 billion (1.09%). At the same time, the USDT dollar stabiblcoin remains the largest crypto acting for market capitalization and trading volumes that dominates both the international and European market. By mid -March, the USDT dominance level exceeded 63% capitalization About $ 143 billion.

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Researchers note that USDT historically is very popular in the eurozone and is widely used in currency exchange operations on various sites and services. So, since 2020, the share of USDT in exchange trading exceeded 70%, and in Europe this figure remains stably high, especially among retail traders.

On the eve of the largest crypto-rope, Binance announced that from March 31 it would stop supporting trading couples with USDT for customers from the European Economic Zone due to the inconsistency of the Rules for regulating the EU crypto assets market (Mica). In December, the divisting of trading couples with the USDT on the European site was announced by the Coinbase Exchange.

However, a decrease in the availability of Tether cryptoactives did not lead to significant losses of the company’s positions in the eurozone. Intotheblock data Showthat now 56-58% of European cryptotransications are for the share of USDT, and the number of large asset holders (from 0.1% to 1% of the working proposal) is kept at 64%. At the same time, the global dominance of operations in USDT exceeded 5.5%.

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Nevertheless, Defillama experts expect a reduction in the USDT share in the eurozone to 55% because of the strict Mica requirements and growth in competition. At the same time, analysts believe that the company will maintain leadership primarily thanks to over -the -term operations, popularity in Defi and established infrastructure.

Tether General Director Paolo Ardoino said that the exclusion of the USDT issuer from the list of organizations that allowed to produce stablecoins for the European Union can be regarded as an attempt by “politicians and competitors” to oust the company from the European cryptocurrency market. The head of Tether added that in order to strengthen its positions in Europe, the company entered the capital of the European issuer STABLR stablcoins, which received a license from an electronic money institution (EMI), which guarantees compliance with the rules for regulating the EU crypto, including the Mica.

Earlier, representatives of Circle, the main European competitor Tether in the Steblcoin market, said that the entry into force of the Rules for regulating the MICA crypto -acting market “will become transforming” and inappropriate stabilcoins will disappear from the European Union market.