Stablecoin adoption has grown immensely, observed especially following the collapse of Terra. <\/p>\n
USDC and USDT have seen sizeable growth, but USDT has a lot of keeping up to do with its value plunging as of press time.<\/p>\n
USDT trades at $0.09999 as of this writing
\nStablecoin waning in terms of social mentions and engagements
\nTether exhibits strength in terms of market cap at $66 billion<\/p>\n
The transfer volume of stablecoins is seeing impressive growth, including USDC, but USDT needs to catch up and gain more traction. <\/p>\n
Overall, stablecoins are enjoying a spike in trading volume, having reached roughly $7.5 trillion which is a huge price pump.<\/p>\n
According to CoinMarketCap<\/a>, USDT (Tether) is trading at $0.09999 or 0.00% as of this writing.<\/p>\n As of press time, USDC has been acing its rival in terms of value and transaction volume. Tether\u2019s transaction volume has significantly slipped by 200 billion from 2021 to 2022.<\/p>\n USDT falters in the social media department or visibility, which could account for its steady decline. Its social engagements<\/a> have dropped tremendously by as much as 24.2%, and social mentions have dipped by 13.7% since November. <\/p>\n In comparison, other stablecoins have been actively engaged on social media, padding their popularity.<\/p>\n USDT has had prevailing negative sentiment since early December, but it has improved, and the weighted sentiment is now looking a little positive.\u00a0<\/p>\n\n The value of transactions is another region in which the stablecoin has been supplanted. Dune Analytics found that USDC has outperformed its competitor in this area as well.<\/p>\n As of this writing, the total value of all USDT transactions was $710 million, whereas all USDC transactions were worth $4.4 billion.<\/p>\n\n Despite some good news regarding positive sentiment and market cap, USDT is faltering in terms of network growth, especially in the Optimism, Polygon, and Ethereum networks which signals a decrease in the transfer of USDT happening in the networks.<\/p>\n In other news, the 31 crypto exchanges under Japan\u2019s Financial Services Agency (FSA) have implemented a ban on trading with stablecoins that include USDC and USDT on June 2022, but they seem to want to reconsider for 2023.<\/p>\n According to recent news reported on December 26, the FSA of Japan<\/a> will be removing the ban imposed on the distribution and trading of stablecoins come 2023.<\/p>\n In line with this announcement, Japan will now allow the local crypto networks to perform activities like trading and distribution of stablecoins to ensure speedy and affordable international remittances.<\/p>\n But, stablecoin distribution in the country will adopt regulations connected to Anti-Money Laundering activities.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Stablecoin adoption has grown immensely, observed especially following the collapse of Terra. <\/p>\n USDC and USDT have seen sizeable growth, but USDT has a lot of keeping up to do with its value plunging as of press time.<\/p>\n USDT trades at $0.09999 as of this writing The transfer volume of stablecoins is seeing impressive growth, including USDC, but USDT needs to catch up and gain more traction. <\/p>\n Overall, stablecoins are enjoying a spike in trading volume, having reached roughly $7.5 trillion which is a huge price pump.<\/p>\n According to CoinMarketCap<\/a>, USDT (Tether) is trading at $0.09999 or 0.00% as of this writing.<\/p>\n As of press time, USDC has been acing its rival in terms of value and transaction volume. Tether\u2019s transaction volume has significantly slipped by 200 billion from 2021 to 2022.<\/p>\nUSDC Leads In Transaction Volume<\/h2>\n
<\/h2>\n
Japan\u2019s FSA Reconsiders Trading with Stablecoins in 2023<\/h2>\n
\nStablecoin waning in terms of social mentions and engagements
\nTether exhibits strength in terms of market cap at $66 billion<\/p>\nUSDC Leads In Transaction Volume<\/h2>\n