Tether dominance is declining

Tether has seen $10bn worth of redemptions following the UST collapse, while USDC and BUSD see growth.
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.

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