The market share of USDT in the US dollar stable currency returned to around 50%, hitting a new high in nearly 14 months
According to the report, the data shows that the total market value of the US dollar stable currency is US $138.5 billion at present, with USDT accounting for 49.39%, USDC accounting for 29.76% and BUSD accounting for 11.63%. The proportion of USDT has reached a new high in nearly 14 months.
Interpretation of this information:
This message is about the current state of the US dollar stable currency market. The report states that at present, the total market value of the US dollar stable currency is US $138.5 billion. A stable currency refers to a cryptocurrency that is pegged to a stable asset, usually a fiat currency like the US dollar. The US dollar stable currency refers to cryptocurrencies that are pegged to the US dollar.
The report further reveals that USDT, which stands for Tether, is the most dominant stable currency in the market, accounting for 49.39% of the total market value. USDC, which stands for USD Coin, is the second-largest stable currency with a market share of 29.76%, and BUSD, which stands for Binance USD, has a market share of 11.63%.
The market share of USDT, which is a stablecoin issued by Tether, has reached a new high in nearly 14 months. This is a significant milestone for the stable currency, indicating its continued dominance in the market.
Stable currencies have gained popularity in recent years, particularly in the cryptocurrency community. They are perceived as a safer investment option because they are less volatile than other cryptocurrencies. Additionally, stable currencies can be used as a medium of exchange, making them particularly useful for traders and merchants.
The dominance of USDT in the stable currency market can be attributed to its popularity in the cryptocurrency community. Tether has been accused of not being transparent about the reserves backing its stablecoin, which has led to speculation about its actual market value. Despite this controversy, USDT has remained popular among traders and investors, suggesting that market sentiment is more important than transparency for the stable currency market.
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