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USDT's Market Share Grows Despite Stablecoin Turbulence in 2023

June 29 (Cointime) - Despite the turbulence caused by the depegging of USDC in 2023, USDT's market share has grown in the cryptocurrency ecosystem. Stablecoins have become popular in the Web3 space due to their ability to provide the benefits of cryptocurrencies with stable value.

However, stablecoins' reliability depends on maintaining their peg to the underlying asset, and stablecoin depegging events have raised concerns about their stability and trustworthiness. While other stablecoins have lost billions of their market cap, USDT has managed to grow significantly and maintain its relevance. 

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