Will USDT keep the throne of the stablecoins? Here are some insights from Tether and bitfinex’s CTO paoloardoino.
“If you see the volumes of Tether compared to the rest of stablecoins, they are insanely higher. They are even 10 times higher on a bad day,” he pointed out.to a report from Arcane Research, USDC, the second-largest stablecoin, has been growing at an impressive rate over the last year and could soon overtake Tether in terms of market cap. Ardoino is not worried about this possibility and pointed out that USDC's growth has been slowing down in the last month.
While USDC has gained a reputation of being more transparent and better regulated than Tether, Ardoino considers this a false narrative. As pointed out by the chief technology officer, since January 2021, Tether has been publishing breakdowns of its reserves, including the rating of its commercial papers.
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