[Tether Stablecoin Market Share Falls Below 60% for the First Time Since March 2023] According to a report by Jinse Finance, DeFiLlama data shows that despite the stablecoin market reaching a historic high of over $283 billion, Tether's market dominance continues to decline, dropping to 59.55%, the lowest level since March 2023. This marks the first time in over two years that Tether's share of the stablecoin market has fallen below 60%, indicating that the market is expanding at an unprecedented pace. Analysts suggest that the passage of the 'GENIUS Act' could accelerate institutional adoption and push the market size far beyond its current scale, with the total stablecoin market capitalization potentially reaching $1.2 trillion by 2028.