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Tether and USDC dominate over 80% of stablecoin market, USDC gains EU recognition
Tether holds roughly $183 billion and Circle's USDC about $72 billion of the $301 billion stablecoin market, giving Tether a 60% share. In the past month USDC's supply decreased while Tether's remained flat, reversing a multi‑year trend. Tether focuses on broad reach, operating on many exchanges, blockchains and dominating Tron’s stablecoin supply. USDC pursued regulatory compliance, and the European Banking Authority classified it as the EU’s first “significant” e‑money token under MiCA, effective November 12 under direct EU supervision. Both tokens rely on their issuers holding the underlying dollars, so users may split holdings to mitigate risk.