The expectation that is brewing is that Tether (USDT) will kick out Ethereum from the second place.
The reasons as projected by Bloomberg are increasing demand and adoption of stablecoins as being forces which will contribute to the rise of Tether. Also, stablecoins are considered to be precursors of CBDCs and they are expected to be more enduring than the Altcoins. Yet another reason they state is that Ethereum has been stagnant in terms of their market cap since 2017 when compared to Tether.
Sydney Ifergan, the crypto expert tweeted: “Agreed, that Tether (USDT) is the top Stable Coin; however, the Bloomberg ideal of Tether overthrowing ETH is a sham. ETH is about the making of an Elephant. They appear slow, but they are evolving and they are more than what meets the eye.”
Cannot be denied that Tether provides the most liquidity amongst stablecoins and has the largest market cap, far and wide. It’s simple and if something is good, it’s dominant. They are dominant and they are good in what they do.
Tether Recovers $1 Million USDT Sent to Wrong Defi Address by Chinese Traders is definitely a unique performance feather in its cap. Sometimes, pure decentralization cannot help in many areas. Being able to have a customer service who will do their level best is a good thing to have.
Paolo Ardoino when talking about the retrieval stated, “The only solution would be requiring, for each transfer, an additional signature provided by a Tether watchtower. Such [a] system would allow Tether to “freeze” funds. But burns of tokens on specific addresses are not possible.”
Paolo Ardoino is actually doing amazing things in the cryptocurrency space. Tether are continuing to coordinate with a 3rd party to perform chain swaps, whether from Tron to ERC20 protocol for 1B USDt or any other size of transaction. Keeping an eye on Whale Alert will give a clue as to what Tether is capable of.
Tether (USDT) Number 1 Stable Coin
Despite the uncertain and challenging times, USDT have managed to keep up their utility, security and viability in terms of being a stable coin. While people are looking at alternatives to antiquated banking and payment systems. As the biggest, most liquid and technologically innovative thing USDT have been doing a great job.
And Tether continues to surpass market capitalization. No denying Tether will maintain its spot as a number 1 stable coin.
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