MiCA Rollout Shows Limited Impact On Dominance, Kaiko Analysis Reports
Summary
Kaiko Research says the EU’s full MiCA rollout has had limited market impact. Trading activity and liquidity remain concentrated in USDT and BTC spot markets, and fears of an immediate drop in USDT dominance have not materialized. The key takeaway is that MiCA has not yet forced a major shift in stablecoin market structure. Tether is still working on local solutions, so compliance should not be overstated. The report treats this as a confirmed but narrow data point, not proof of a broader price or market regime change.
