Home Finance News Tether (USDT) Might Take the Spot Next to Bitcoin in the Long Run – Will It?

Tether (USDT) Might Take the Spot Next to Bitcoin in the Long Run – Will It?

Tether USDT bitcoin

Tether (USDT) is working to further growth into online commerce and traditional finance.  Considering the price stability of Tether and the trust established among users, this is very much possible.

Very recently, per a Whale alert the Tether’s Treasury minted a Whooping 300 million USDT.  Also, it surpassed USD 600 billion in cumulative transaction volume on Ethereum ERC 20 tokens.

Kenny Lee, Stax CEO recently stated. “The acceptance of USDT in an IPO is a transformative move in Australia and a significant step forward for cryptocurrency adoption in general. It paves the way for the future of capital markets down under.”

For those who do not know Stax, they are Australia’s crypto-friendly capital-raising platform. 

Michael Go, Sydney Stock Exchange Chief Executive stated, “This is a first, and historic development in the Australian market which will dictate the future of capital raising, particularly for growth companies.”

In a similar tone, Sydney Ifergan, the crypto expert tweeted:  “It looks like Tether (USDT) will be making it to almost everything possible in the world of commerce very soon.”

Of the many predications about Tether, the expectation that Tether will overtake Ethereum in the long run is the most interesting one. Some have even stated that it will take something very big to curb the growing adoption of Tether and that if the current trend continues that it will overtake Ethereum in the forth coming year.

Some strategists opine that if Tether will succeed in taking the second spot next to Bitcoin, it might make it possible for widespread adoption of Central Bank Digital Currencies (CBDCs) and stablecoins. However, for all these predictions to come true lot of growth has to happen.  For now, Tether’s market cap lags behind Ethereum. Another interesting thing of note is that Tether has been very dominant as a stablecoin in China even though the use of cryptocurrency has been banned there since 2017.

Tether (USDT) Good Thing

The good thing aboutUSDT is that it cannot show huge fluctuations and that the only change one will be able to see is the fluctuation in the US dollar exchange rate. Also, the good thing is that it is also very stable when compared to other coins.  It is a good stable coin.  Based on the Bitcoin blockchain, the circulation of USDT is very stable and reliable.

Also, investors have to state that Tether price is very intuitive when compared to several other cryptocurrencies and that therefore it is the best candidate for investment.

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dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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