In 2021, USDC grew far quicker than Tether (USDT), and it is now the most popular stablecoin on Ether. According to the analytics firm's findings, demand for USD Coin has grown to the point where it has absorbed a significant portion of Tether's market share this year. According to Ryan Watkins, this might result in Tether's portion of the Ethereum stablecoin supply falling below 50% in the coming weeks.