Crypto
Stablecoin Fragmentation Spreads Across Networks as Custom Tokens Multiply
The stablecoin market is experiencing fragmentation as custom tokens spread across various networks and blockchains.
USDT and USDC continue to dominate market depth, holding around 59.6% and 12.5% of total crypto trading volume in Q2 2023 respectively.
New issuers face challenges building reliable redemption systems, which is crucial for long-term stablecoin adoption.
Payment platforms and institutional partnerships show that distribution and liquidity infrastructure matter more than branding alone.