“Given the widespread acceptance of stablecoins as a viable proxy for the world’s reserve currency, there seems to be little stopping the acceptance of the dollar-linked stable coin. It should be a matter of time before Tether surpasses Ethereum” -stated Bloomberg in a latest monthly report that offers crypto market forecasts.
Introduction
The growth of USDT is quite apparent, indeed. The market cap of USDT has been on a constant rise since March 12 when Bitcoin’s price plummeted, owing to factors such as cryptocurrency traders’ demand for margin trading, demand in various grey markets led by “lottery”, and dollar demand in countries or regions subject to sanctions or excessive local currency volatility. However, outside of USDT, tethers pegged to other assets have received far less limelight.
According to the Tether Transparency page, in addition to USDT, Tether has also issued stablecoins pegged to the euro, RMB and gold: EURT, CNHT, and XAUT respectively.
The EURT was issued back in 2014, but its current market capitalization is less than €45 million, while the CNHT was launched in…
