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Where USDT, USDC, BUSD stand as stablecoin race accelerates
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ambcrypto.comDue to the recent events surrounding SVB and Circle, the stablecoin market witnessed a lot of volatility over the past few weeks. After the dust settled, Tether [USDT] emerged on top, when compared to other stablecoins.
According to a 21 March tweet by CZ, USDT has been making progress in terms of market cap compared to Binance USD [BUSD] and USD Coin [USDC]. Despite BUSD’s fiat asset backing, and regulatory compliance, its growth has stopped. In contrast, USDT’s status has continued to improve despite market volatility.
<p lang=«en» dir=«ltr» xml:lang=«en»>#BUSD, the most fiat-backed stablecoin, audited by big audit firms, regulated by the NYDFS, was forced to wind down (no new minting).USDC is shrinking in market cap too due to bank closures.
USDT is growing. pic.twitter.com/q5OYQdpAtW
— CZ
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