At a time when USDT is touching new market cap highs, the other stablecoins are struggling to keep their market dominance.
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At a time when USDT is touching new market cap highs, the other stablecoins are struggling to keep their market dominance.
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Over 60% of USDT’s supply is currently issued on the Tron blockchain, according to Tether data.
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As part of its expansion into mining, Tether cited Uruguay’s capability of generating 94% of its electricity from renewable sources, including wind and solar.
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Over the past year, Circle’s USD Coin has seen its market share decline from 34.88% to 23.05%. Tether’s USDT shows a contrasting picture.
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This week’s Crypto Biz explores Tether’s first quarter audit, Ripple’s partial victory against the SEC, Worldcoin fundraising and Ledger’s controversial recovery service.
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According to Strike CEO Jack Mallers, the expansion drive aims to counter the “clouded world of crypto exchanges and hidden, unregistered licensing regimes and 1,000 different coins.”
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The Central Market supplies over 12 million people per month in Argentina. The move will allow companies to accept and pay bills with USDT.
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Tether and Circle have been leading lobbying efforts among stablecoin issuers as they push for legislation and regulations for stablecoins.
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Tether said that Bitcoin’s decentralized nature and its long-term store of value made it an obvious choice for the stablecoin issuer.
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