Cointime

Cointime

Download App
iOS & Android
Home / Projects

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. 

Tether USDt Tether USDt $1.00
-0.07%
USDT
Comments

All Comments

Recommended for you

  • AAVE breaks above $150

    market data shows that AAVE has broken through $150 and is currently trading at $150.05, with a 24-hour drop of 0.5%. The market is volatile, so please exercise caution and manage your risks.

  • APT falls below $10

    market shows APT has fallen below $10 and is now trading at $9.99, with a 24-hour decline of 8.1%. The market is volatile, so please be prepared for risk control.

  • BTC falls below $66,500

    according to market data, BTC has fallen below $66,500 and is now trading at $66,494.36, with a 24-hour decline of 0.74%. The market has been volatile, so please be prepared for risk control.

  • BNB falls below $580

     market shows BNB has fallen below $580 and is currently trading at $579.9, with a 24-hour decline of 1.49%. The market is volatile, please be prepared for risk control.

  • GOAT briefly breaks through $0.618

     market data shows that the AI concept Meme coin GOAT has broken through 0.618 US dollars in the short term, and is currently priced at 0.61785 US dollars, with a 24-hour increase of 68.37%. The current market value of GOAT is 618 million US dollars. The market fluctuations are large, so please be prepared for risk control.

  • Bitcoin Fails to Sustain Rally Towards $70,000, CoinDesk 20 Index Falls by Nearly 2%

    Bitcoin's attempt to reach $70,000 was unsuccessful, resulting in a decline in the broader market, including a 2% drop in the CoinDesk 20 index. US-listed Bitcoin ETFs experienced a net outflow, indicating a change in investor sentiment or profit-taking after recent gains. The stablecoin volume, which is often linked to liquidity and buying power in the crypto market, has not increased, indicating a possible slowdown in crypto market growth. Major tokens such as Dogecoin (DOGE) and XRP experienced losses due to profit-taking from a previous week's upward movement, while US-listed Bitcoin exchange-traded funds (ETFs) ended a seven-day inflow streak.

  • ETH falls below $2,600

    Golden Finance reported that the market shows ETH has fallen below $2,600 and is currently trading at $2,597.2, with a 24-hour decline of 1.75%. The market is fluctuating greatly, so please be prepared for risk control.

  • Crypto Options Traders Bet on Bitcoin to Reach Fresh Highs by End of November

    According to Bloomberg, options traders in the crypto market are increasingly betting on bitcoin reaching new highs by the end of November. The $75,000 strike price has the highest open interest for options expiring on November 8, indicating a significant area of focus for the market during that time. Despite the upcoming U.S. presidential election, some traders believe that bitcoin will surpass its previous highs in the coming weeks. The rise in stablecoin liquidity and bitcoin transactions in October may contribute to this bullish sentiment.

  • Spot gold once broke through $2,750, setting a new record high

    spot gold once broke through $2,750 per ounce, setting a new record high. (Jinshi)

  • BTC breaks through $67,500

     market shows BTC has broken through $67,500 and is now reporting at $67,506, with a 24-hour increase of 0.72%. The market is volatile, please manage your risks.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company