Tether dominance is declining
Tether has seen $10bn worth of redemptions following the UST collapse, while USDC and BUSD see growth.
May 24th 2022
Source: www.coingecko.com
In light of last week’s Tether de-peg, Tether has seen redemptions equivalent to $10 billion. The massive redemptions follow a large arbitrage opportunity appearing as Tether’s peg was challenged, creating fruitful grounds for market participants with Tether redemption capacities.