In the cryptocurrency world, there is no shortage of stablecoin action. Despite numerous competitors launching, Tether continues to dominate this landscape with ease.
Despite the uphill battle, several new products will come to market throughout 2020.
More Stablecoins Attempt to Dethrone Tether
The question is whether they can be more successful than those stablecoins launching in 2019.
With the likes of USD Coin taking another stab, Binance’s own BUSD, and Saga’s SGD, the opportunities are virtually limitless.
Particularly Binance’s own offering should yield some powerful competition to Tehter’s USDT.
After all, Binance remains the biggest cryptocurrency trading platform in the world today.
That being said, the odds are not in favor of this new stablecoin either.
Tether has over one $100 billion in on-chain volume, and that is just on the Ethereum blockchain.
Competition among stablecons is direly needed, yet it appears all of the current alternatives lack appeal, for reasons unknown.
One also has to keep in mind how…