12-08-2021, 05:22 PM
The most important flippening is nigh: USDC to flip USDT
<!-- SC_OFF --><div class="md"><p>As we all know, the entire crypto market uses USDT as it has the most trading pairs of any stablecoin. As we all know, Tether is a very shady company refusing to be transparent about what is actually backing USDT. </p> <p>USDC, which is "<em>fully backed by cash and equivalents and short-duration U.S. Treasuries</em>" and publishes monthly " <em>attestation reports by Grant Thornton regarding the reserve balances backing USDC"</em>, is a much more reliable alternative.</p> <p>For months now USDC is growing larger and larger. It had a $4B market cap on 1/1/2021 and currently stands at a $41b market cap. A 10x increase. </p> <p>Tether currently stands at $76b market cap, coming from a $21b market cap. A 3.6x increase.</p> <p>If this trend continues, USDC will flip USDT within the year, which means the inevitable exposure of USDT as a scam will have a much smaller impact than before.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Nieeek"> /u/Nieeek </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rbq2qv/the_most_important_flippening_is_nigh_usdc_to/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rbq2qv/the_most_important_flippening_is_nigh_usdc_to/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>As we all know, the entire crypto market uses USDT as it has the most trading pairs of any stablecoin. As we all know, Tether is a very shady company refusing to be transparent about what is actually backing USDT. </p> <p>USDC, which is "<em>fully backed by cash and equivalents and short-duration U.S. Treasuries</em>" and publishes monthly " <em>attestation reports by Grant Thornton regarding the reserve balances backing USDC"</em>, is a much more reliable alternative.</p> <p>For months now USDC is growing larger and larger. It had a $4B market cap on 1/1/2021 and currently stands at a $41b market cap. A 10x increase. </p> <p>Tether currently stands at $76b market cap, coming from a $21b market cap. A 3.6x increase.</p> <p>If this trend continues, USDC will flip USDT within the year, which means the inevitable exposure of USDT as a scam will have a much smaller impact than before.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Nieeek"> /u/Nieeek </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rbq2qv/the_most_important_flippening_is_nigh_usdc_to/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rbq2qv/the_most_important_flippening_is_nigh_usdc_to/">[comments]</a></span>Kind Regards R