The stablecoin market has once again reached a milestone! The total market capitalization has just surpassed a new high of $308.11 billion, reflecting the capital flow in the entire crypto market.

Tether(USDT)'s market performance is particularly eye-catching. Its market share has risen to 60.64%, almost an absolute industry leader. Looking from another perspective: for every $10 of stablecoins in circulation in the crypto market, more than $6 are USDT. This level of concentration is indeed very high.

Interestingly, the overall increase this week is only 0.13%, which seems negligible. But the key issue is—given such a large base, continued upward breakthroughs indicate that funds are not withdrawing but rather continuously flowing into this sector. Maintaining growth on such a massive market cap is not a small signal.

Is USDT's dominant position truly a safeguard for market stability, or a potential risk factor? Do other stablecoin projects have a chance to break this pattern? These questions are worth ongoing observation. From the data, the foundation for a bullish crypto market remains solid, and there may still be room for further upside.