Stablecoin dominance near record highs: the default unitMarket Cap USDT Dominance, %CRYPTOCAP:USDT.DSATSINDEXOn the weekly, Tether dominance sits near the top of its multi-year range, back around the highs. Total stablecoin supply is at an all-time high and now carries roughly 75% of all crypto trading volume — about 99% of it dollar-denominated. What started as a temporary parking spot has become the market's unit of account and its dry powder. Read against falling exchange BTC reserves, rising stablecoin dominance describes an accumulation regime: capital staged in dollars on-chain while coins leave the float. Context, not a signal. Not financial advice.