Tether's Dominance in Stablecoin Market May Be Challenged by New Competitors and Regulatory Risks

05/29 21:05

Tether (USDT) remains the largest stablecoin in the market, with a market capitalization of over $86 billion as of May 2023. However, its dominance may be challenged by the emergence of new competitors such as USDC, a stablecoin fully backed by US dollars held in reserve by regulated financial institutions, and decentralized stablecoins like DAI.
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