ERC-2O Tether: An on-chain review

A few days back, we introduced Santiment’s Brand Index, an improved ranking system for gauging the momentum and growth of stablecoins in today’s market.

Top 10 stablecoins for Q1 of 2021 according to our new Brand Index

To this end, we also think it’s important to provide additional overview and analysis on the top-ranked stablecoins according to our new Index, starting with the #1 token overall - Tether.

It’s no secret that 2020 has been a watershed year for stablecoins, as the supply of Tether, USDC, DAI and other top-caps exploded with a surge in demand, institutional interest and DeFi’s rapid growth.

At the time of writing, Tether’s market cap stands at 46.5bn, marking a +626.5% increase in the last year alone:

Tether, market cap, last 2 years (Source: Sanbase)

This puts Tether at roughly 4.1x the size of

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