Tether Dominates Exchange Trading With 70% of The Volume

[Dociko]

Stablecoin Tether’s dominance for crypto trading pairs has surged over the past three years so much that it now accounts for almost three-quarters of all exchange pairs according to recent research. Back in 2017, crypto trading pairs were primarily made in Bitcoin which is what partially boosted it on its way to an all-time high of $20,000. Prices for altcoins were suggested in satoshis before dollars but the rise of stablecoins changed all that.
Details: https://coingape.com/tether-dominates-exchange-trading-with-70-of-the-volume/

[aiviaa485]

It is proven that stable coins are needed so that there are no quick changes when compared to Bitcoin.
Usually I trade with altcoins using Bitcoin but this fact proves that stable coins are very much needed by cryptocurrency lovers.

[jonathancool220]

Among stable coins, USDT is indeed very perfect and has a lot of financial circulation.
It is difficult for other stable coins to catch up, including BUSD and USDC because these two coins are quite constrained by such a long distance to catch up with USDT in the total capitalist market.

[Review Master]

Among stable coins, USDT is indeed very perfect and has a lot of financial circulation.
It is difficult for other stable coins to catch up, including BUSD and USDC because these two coins are quite constrained by such a long distance to catch up with USDT in the total capitalist market.

In my point of view, BUSD and USDC will catch up with USDT because binance will more focus on BUSD rather than USDT or USDC and coinbase won't list USDT as they have their own USDC. Not only this, there are more adoption for both BUSD and USDC. So, soon we can see any of these to overtake USDT.

[Malam90]

There is no denying that stable coins are now a vital part of trade. Right, if we follow back two years ago, then mostly trade were done with Bitcoin and Ethereum pair but now stablecoins' demand has increased in the last 5 months. Only USDT capital has increased from 10$B to 18.5B now that is almost 85% which is extra ordinary performance of USDT. In every exchange, Its dominates more is than 60% trading volume. So nobody can deny the importance of stable coins now.

[Review Master]

In every exchange, Its dominates more is than 60% trading volume. So nobody can deny the importance of stable coins now.

It's because of market movement. I mean to say, alts are dumping on btc pair to maintain the usdt value whenever bitcoin take long jump. That's the main fact for traders to shift from btc or eth to usdt pair, imo. But there is a problem, more and more fake stablecoins are entrying into makret , but unable to maintain its stable form as team didn't do any deposit of fiat into bank reserve according to total circulating supply. So, we can't rush for any new stablecoin until it's a real one.

[Malam90]

In every exchange, Its dominates more is than 60% trading volume. So nobody can deny the importance of stable coins now.

It's because of market movement. I mean to say, alts are dumping on btc pair to maintain the usdt value whenever bitcoin take long jump. That's the main fact for traders to shift from btc or eth to usdt pair, imo. But there is a problem, more and more fake stablecoins are entrying into makret , but unable to maintain its stable form as team didn't do any deposit of fiat into bank reserve according to total circulating supply. So, we can't rush for any new stablecoin until it's a real one.

That's the concern dear mate. No stable coin yet to show their evidence that they have reserved either fiat or cryptocurrency to maintain stability ratio 1:1. Even tether claimed that they have reserved their funds 1:1 ratio in USD but still they can't be able to show their evidence. However, we can’t deny the importance of USDT and top few stablecoins. New stablecoins should show their evidence to prove their reserved before claiming their coins as stable coins.

[Lutera94]

Stablecoin Tether’s dominance for crypto trading pairs has surged over the past three years so much that it now accounts for almost three-quarters of all exchange pairs according to recent research. Back in 2017, crypto trading pairs were primarily made in Bitcoin which is what partially boosted it on its way to an all-time high of $20,000. Prices for altcoins were suggested in satoshis before dollars but the rise of stablecoins changed all that.
Details: https://coingape.com/tether-dominates-exchange-trading-with-70-of-the-volume/

yes this is the best think in crypto world, lots of crypto trader  are use stable coin. thats why most of the exchange trading volume are big with usdt. i can see kucoin exchange have lots of tether pair which is trade more & more.

[Dora Walletinvestor]

 Stablecoins in general are very promising assets among other more volatile cryptocurrencies. But it does concern me too that Tether has failed to prove that their currency is backed up by USD the way they claim.

[saprakib]

Yes i have also noticed that from starting of stable coins. USDT is the top of the dominance over bitcoin and eth and with all altcoin. The dominance are increasing when the market on tough situation much.That's why stable coin is more popular.     

[Review Master]

<-- snip -->

That's the concern dear mate. No stable coin yet to show their evidence that they have reserved either fiat or cryptocurrency to maintain stability ratio 1:1. Even tether claimed that they have reserved their funds 1:1 ratio in USD but still they can't be able to show their evidence.

As far i know, tether or USDT is backed by Bitfinex exchange and they already reserved on bank ( There is a funny history about this, i'll make a post on that soon). Also, BUSD from binance is backed by a number of BTC amount and BUSD's supply will be fluctuate according to the BTC's market price. If it's about USDC from coinbase, they probably reserve that on USA's bank ( not sure about it) and usa government is going to regulate USDC as a payment which is recently circulating through most of the news.

[Malam90]

<-- snip -->

That's the concern dear mate. No stable coin yet to show their evidence that they have reserved either fiat or cryptocurrency to maintain stability ratio 1:1. Even tether claimed that they have reserved their funds 1:1 ratio in USD but still they can't be able to show their evidence.

As far i know, tether or USDT is backed by Bitfinex exchange and they already reserved on bank ( There is a funny history about this, i'll make a post on that soon). Also, BUSD from binance is backed by a number of BTC amount and BUSD's supply will be fluctuate according to the BTC's market price. If it's about USDC from coinbase, they probably reserve that on USA's bank ( not sure about it) and usa government is going to regulate USDC as a payment which is recently circulating through most of the news.

BUSD of Binance is backed by crypto they have reserved and with the fluctuation, their supply will fluctuate simultaneously to maintain 1:1 reserve ratio. But USDC of Coinbase still not shown their evidence of their reserve. If bank of USA will regulate USDC, its reserve will come to light and if they become to success in their path, it will be good competitor for USDT but very tough standing in today's view point. 

[vaysar]

Binance uses its BUSD, and Coinbase uses its USDC, but firstly USDT was the first stablecoin, and secondly, it is used in DeFi, and thirdly, Tether is used throughout the crypto space, unlike BUSD and USDC, and therefore it seems to me that the capitalization of Tether will be always above the rest.

[Review Master]

<-- snip -->

If bank of USA will regulate USDC, its reserve will come to light and if they become to success in their path, it will be good competitor for USDT but very tough standing in today's view point. 

Little busy with my real life works, but hopefully i'll be able to share some information regarding this. But, recently USA government gives permission to banks that they can hodl crypto as a custodial source for their users which is positive side for coinbase or other exchange. Also there is a rumor that U.S. Treasury and Secretary of current government is going to pass a strict regulation for selft-hosted crypto wallet. Lets see what happen next.
Source: https://twitter.com/brian_armstrong/status/1331744884856741888

Binance uses its BUSD, and Coinbase uses its USDC, but firstly USDT was the first stablecoin, and secondly, it is used in DeFi, and thirdly, Tether is used throughout the crypto space, unlike BUSD and USDC, and therefore it seems to me that the capitalization of Tether will be always above the rest.

Agree, but hype of defi was started from ethereum protocol which gave more oppertunity for ERC-20 based USDT. But, at this moment, there are also so many popular defi projects which is curently running on binance smart chain and only focus on BUSD which also give some exposure for BUSD. So, everything is still unpredictable like always for the market.

[Psycho]

Stablecoin Tether’s dominance for crypto trading pairs has surged over the past three years so much that it now accounts for almost three-quarters of all exchange pairs according to recent research. Back in 2017, crypto trading pairs were primarily made in Bitcoin which is what partially boosted it on its way to an all-time high of $20,000. Prices for altcoins were suggested in satoshis before dollars but the rise of stablecoins changed all that.
Details: https://coingape.com/tether-dominates-exchange-trading-with-70-of-the-volume/

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