The host of popular crypto channel Coin Bureau predicts that one US dollar-pegged stablecoin is ready to run the market.
Coin Bureau host Guy Turner said Circle’s USD Coin (USDC), the second largest stablecoin by market capitalization, has overtaken Tether’s USDT to become the world’s largest stablecoin by market cap to 2.2 million subscribers. It says it is becoming the dominant stablecoin.
“The increase in USDC supply over the past few years is further evidence. [USDC’s] The strategy worked. I also think it is inevitable that USDC will become the dominant stablecoin in the next two years. However, I cannot say that I am completely satisfied.”
Turner is the answer to the world of traditional finance (TradFi), and warns viewers of concerns over USDC issuer Circle, a centralized company with perhaps the goal of monopolizing the market. .
“While the Circle’s vision for crypto payment adoption is one I can partake in, I am still highly skeptical of its true underlying motivations. , undertook some strong lobbying efforts to reach the ears of politicians. [Washington DC] and Brussels.
It has also been shown to be ready and willing to censor transactions if instructed to do so by authority. It encourages issuers to continue developing better products and allows people to diversify their stablecoin holdings. We don’t want a monopoly.
This is part of the reason why I hope Tether will be able to do a full audit and fully address the fund in one day. It also helps calm the nerves of the increasingly edgy crypto community.
Until then, the circle will continue to grow aggressively. ”
Me
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