Despite the criticism of opacity and centralization against Tether, which is tied to the US dollar, the asset still outperforms its rivals.
The report of Blockchain Luxembourg SA states that about 98% of the total daily trading in steblcoins belongs to Tether. In recalculation, this is approximately 60% of the daily trading volume of Bitcoin's crypto currency.
Tether bypasses other stablkoiny in the market
As for the market value, Tether is about 93% of the market value of all stablkoinov. At present, the total market capitalization of all such products is approximately 3 billion US dollars, about 1.5% of the entire crypto-currency market.
Compared with other stablkoinami, Tether also boasts that it is presented in the listing on the largest number of crypto-exchange exchanges. In general, steblkoins are in the listing of 50 crypto-exchange exchanges in total, and Tether is represented, at least, by not less than 46 of them.
The report, which analyzed 57 stablkoinov (23 launched and 34 at the stage of preparation for launch), showed that investors are increasingly becoming interested in such products, and funding for such projects from venture capital was about 350 million US dollars. Part of the venture financing was attracted from funds that include Andreessen Horowitz , Bain Capital Ventures, Google Ventures and Lightspeed Venture Partners.
Favorable jurisdictions for stiblcoins
The report also found that the United States and Europe are the most popular places for design groups of various stibblocins. Currently, 19 such project teams are based in the US, and in Europe – 13. Switzerland is the most popular place with 5 projects located there, while in the UK there are only 3 of them.
Recall that recently Circle , owned by the banking giant Goldman Sachs, launched its steblcoin, which became another competitor for Tether, along with other similar products from Gemini and Paxos , which started earlier.
