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Justin Sun is promoting all stable coins that come to his attention. The Sun is shining bright for Paolo Ardoino, Jeremy Allaire, Rafael Cosman, and many more in the future.
Justin Sun On April 14: Finally! After 729 days’ endeavors, USDT on TRON (23.9B) has surpassed USDT on Ethereum (23.4B). It is a historic moment.
August 3: USDC on TRON is now live on sun_io! USDT USDJ TUSD
August 6: TrustToken, operator of decentralized finance (DeFi) lending protocol TrueFi and stablecoin TUSD, has raised $12.5 million in its new funding round led by Blocktower, a16z, and Alameda Research.
It just looks like the dominance of Tether is getting threatened by the coming of USDC; the competitor is gaining a substantial portion of the market share. Also, it is evident that USDC is growing faster than USDT.
USDC is efficient, scalable, and global. They have scratched the surface of the amazing ways in which USDC can impact the real world.
Wintermute is using USDC to provide critical resources and life-saving equipment to those who are struck by Covid-19.
The first statement: All Tether tokens are pegged at 1-to-1 with a matching fiat currency (e.g., 1 USD₮ = 1 USD) and are backed 100% by Tether’s reserves. USDT is a very widely used stable coin.
Justin Sun, the founder of Tron, a crypto influencer, is known for self-promotion and marketing stunts. Talking Justin Sun is important at this point when USDT has stopped printing while the price of Bitcoin has been climbing to all-time highs. It just looks like Tether has stopped pumping the price of Bitcoin.
TrueUSD (TUSD) is a USD-pegged cryptocurrency otherwise known as a stablecoin. TUSD is the first asset token created on the TrustToken Platform. It provides users with regular attestations of escrowed balances, total collateral, and legal protection against the misappropriation of the underlying USD.
The monopoly of one stable coin seems to come to an end; it is now more stable coins lining up in the market.
Typically, “USDC and USDT are cryptocurrencies backed by the same amount of fiat currency, USD. Instead, many people choose to invest in stablecoin such as USDT or USDC, another less volatile digital currency that you can trade 24 hours a day.”
With regulators cracking down on cryptocurrencies, when there are two stable coins or crypto are in the market, people might choose to work with the most legally compliant token. The stable coin with the most legal compliance will ultimately win!
