According to Coindesk, Tether has not issued new USDT in weeks. Analysts and markets said that, the sudden suspension of USDT issue showed that Bitcoin was facing three unprecedented challenges that threaten its dominance, which unleashed a storm of USDT.
Here are three reasons why USDT has screeched to a halt. First, China cracks down on crypto. The success of USDT is largely attributable to its dominance among Chinese traders and investors. But now it is difficult for them to buy USDT using legal tender. Second, USDC, the most strongest competitor against USDT, is gaining market share. Third, there is an increasing regulatory pressure around the world on crypto.
AEX Operation Team
July 17, 2021 (UTC)
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