In a rapid turn of events, Tether’s stablecoin dominance has surged to its highest point in a year and a half, a feat crypto watchers attribute to difficulties surrounding rival stablecoins USDC and BUSD.

Tether USDT now stands at its highest dominance over the stablecoin sector in 18 months.

According to Blockworks’ data analysis of stablecoin supply composition, USDT’s assets total market share has risen to its highest point since at least July 12, 2021, currently sitting at 56.4%, after increasing by 5.4% in the past 30 days.