Tether dominating stablecoin market, this new hybrid exchange aims to take over the trading world
In the second quarter of 2023, the digital currency market was turbulent, and most of it was in a downward trend before consolidation, affecting various assets. This market trend has created opportunities for certain currencies to gain a larger market share and assert dominance.
Most notably, Tether, a stablecoin that tracks the US dollar, has seen significant growth and now enjoys record dominance over altcoins.
Meanwhile, industry experts speculated that Tradecurve, a new hybrid exchange, could establish itself as a prominent player in the world of cryptocurrency trading. This takes into account the regulatory challenges faced by major exchanges such as Coinbase and Binance.
Tether dominates other stablecoins
When cryptocurrency prices drop, traders and investors often flock to stablecoins to protect their funds until the next upside.
Subsequently, Tether (USDT), a stablecoin, gained prominence in this role. In the first week of June, the market capitalization of USDT reached $83.6 billion, surpassing the previous record of $83.2 billion, setting a record.
Among stablecoins, the closest competitor to Tether is USD Coin (USDC), which currently has a market capitalization of $28.6 billion.
Over the past six months, Tether has consistently gained market share from struggling stablecoins such as USD Coin (USDC) and Binance USD (BUSD), resulting in a significant increase of about $17.8 billion or 27.15% in market capitalization.
At present, Tether dominates more than 65% of the stablecoin market.
Aside from its stable value, the trust and transparency USDT has built up over time has contributed to its dominance as the leading stablecoin in the market.
Experts maintain a positive outlook on Tradecurve
Cryptocurrency experts have made predictions regarding the potential dominance of Tradecurve, a new hybrid cryptocurrency exchange, and how it could dominate digital currency trading in the coming months.
The hybrid exchange model integrated by Tradecurve provides advantages over centralized exchanges such as Binance, Coinbase, and Kraken.
However, experts remain bullish on Tradecurve not only because of the mixed nature of the exchange but also because of another key feature.
A hybrid exchange allows users to trade various financial instruments, including stocks, commodities, options, forex, ETFs, and more, from a single account.
As such, industry leaders say this could entice traders, who would prefer the ease of managing their assets on a unified platform, to use Tradecurve.
While Tradecurve relies on blockchain infrastructure, experts predict that cryptocurrency traders and traders from traditional platforms such as FXTM, Deriv, Robinhood, and Tradestation will consider the exchange.
This comprehensive approach may lead to Tradecurve dominating trading.
Tradecurve is currently raising $20 million to fully publicize the exchange. The pre-sale price of TCRV, its native token, is $0.015.
As for what Tradecurve has to offer, traders and investors maintain a positive outlook on the platform; The overview could support TCRV token prices in the coming months.
Visit the links for more information about Tradecurve and the TCRV token:
Click here to purchase pre-sale TCRV tokens
Join our community on Telegram
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users should do their own research before taking any actions regarding the Company.
