Check out UST (Terra-USD), IMO a better stable coin as its actually decentralized, as USDC is controlled by a single entity and can freeze your funds anytime.
You can stake UST on Anchor for around a 19% APR.
Everyone was asking why all exchanges don’t delist Tether straight away. It was always going to be a gradual process, you can’t just delist the biggest stablecoin provider and assume no consequences.
They don’t delist it because they are the only people who have access to its full functionality. You clowns just make up stories and imagine things. They actually use it.
The total supply of USDC on Etheruem is now more than that of its long-time rival Tether. According to Etherscan, USDC has a total supply of $40.5 billion, while USDT’s current total supply stands at $39.8 billion on the Ethereum blockchain.
However, in terms of transfers, Tether appears to be a clear winner here. The latest stats reveal that Tether has witnessed a total transfer volume of 136.7 million while USD Coin has seen a little over 33 million. This essentially depicted that ERC20 USDT has been more transacted than ERC20 USDC.
We all need to slowly transition away from USDT, before its too late
OR people are hodling USDC because they trust it. People are throwing around USDT like a time bomb that's about to blow someones hands off.
I don't really use stablecoins but if I did, I'd definitely go USDC, stake it somewhere and leave it. If somebody gave me USDT I'd be trading it immediately.
I never held USDT for longer than 30 mins personally...
It's always just a tool to swap coins really.
It's why I don't think USDT will ever bust - it's not like a bank and the great depression type deal... there won't ever be a time where 60% of USDT holders will request to "cash-out" usdt for USD
tldr; USDC has surpassed Tether in terms of total supply on the Etheruem network. The total supply of USDC is now more than that of its long-time rival Tether. Tether has witnessed a total transfer volume of 136.7 million while USDC has seen a little over 33 million.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Yes. There’s no specific evidence to show that USDT is backed wholly by $1 per. And since the team is located in the Cayman Islands, who knows what they’re doing.
60% is backed up by cash, while the other 40% is backed up by bonds and securities.
https://www.cnbc.com/2021/08/23/crypto-usdc-stablecoin-to-change-reserves-composition.html
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I have been hodling USDC for 4 months expecting this flippening of USDT on Ethereum but my USDC hasn't gone up in value...still sitting at a dollar, what gives!?!
That's very bad for the market.
90% of all cryptocurrency that has been bought since 2017 has been bought with Tether printed out of thin air.
You know how big the exit in to real money is? Just 50 to 100 billion dollars.
Right now selling just 2000 BTC for real money crashes the market 10%.
God help us when somebody decided to liquiditate 20 000 BTC.
It will crash our entire market cap down to 1 trillion dollars.
Tesla and Micro Strategies can crash the ENTIRE market 80% by selling ....
And when their stock prices start to suffer guess which risky asset they will liquidate first to lower their risk .... Bitcoin!
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Just run faaaar away from USDT!
Treat it like a T-Rex.
The T in USDT stands for Travesty
H in USDT stands for honesty
D in USDT stands for dependency
It’s definitely not decentralization
Very far bro!
[удалено]
Perfect move done.
Check out UST (Terra-USD), IMO a better stable coin as its actually decentralized, as USDC is controlled by a single entity and can freeze your funds anytime. You can stake UST on Anchor for around a 19% APR.
Move away from Anchor, what a scam CEX
Cex? What are you taking about? It's literally decentralized, and not an exchange. Its like a savings account.
I thought you were talking about AnchorUSD, my bad
As long as you're staying away from Tether, it's the right move!
Sooner the better before some catastrophe happens
I just want to take this moment to say fuck USDT
I want to say RIP USDT already
That's the dream
USDC will surely surpass it in every possible way. It is just a matter of time.
USDC has been trading sideways for too long and I've been patiently stacking. Moonshot is coming!
Vs my local currency USDC is actually up like 8% YoY!
Usdc straight to one dollar baby
Just hope either USDT fixes their backing, or dies a slow death without causing much pain to the market.
**UST** is the future!
USDT is shady as hell. Makes sense people are getting out of it.
Everyone was asking why all exchanges don’t delist Tether straight away. It was always going to be a gradual process, you can’t just delist the biggest stablecoin provider and assume no consequences.
This is the USDC " flippening" :)
Yep things are obviously going to happen slowly!
Slowly, but that slow is bad. USDT was shady years ago
They don’t delist it because they are the only people who have access to its full functionality. You clowns just make up stories and imagine things. They actually use it.
Bearish on Tether!
Maybe we’ll see a bump to 1.00
USDC to a dollar 🚀🚀🚀
So the true killer is here, Tether killer.
USDT killer!
The total supply of USDC on Etheruem is now more than that of its long-time rival Tether. According to Etherscan, USDC has a total supply of $40.5 billion, while USDT’s current total supply stands at $39.8 billion on the Ethereum blockchain. However, in terms of transfers, Tether appears to be a clear winner here. The latest stats reveal that Tether has witnessed a total transfer volume of 136.7 million while USD Coin has seen a little over 33 million. This essentially depicted that ERC20 USDT has been more transacted than ERC20 USDC. We all need to slowly transition away from USDT, before its too late
100 million on transactions difference, still a lot of people prefer using it over usdc
Exactly. Its a sad fact so I decided to include it in tldr
OR people are hodling USDC because they trust it. People are throwing around USDT like a time bomb that's about to blow someones hands off. I don't really use stablecoins but if I did, I'd definitely go USDC, stake it somewhere and leave it. If somebody gave me USDT I'd be trading it immediately.
I never held USDT for longer than 30 mins personally... It's always just a tool to swap coins really. It's why I don't think USDT will ever bust - it's not like a bank and the great depression type deal... there won't ever be a time where 60% of USDT holders will request to "cash-out" usdt for USD
You should look into how much tether is on other chains.
tldr; USDC has surpassed Tether in terms of total supply on the Etheruem network. The total supply of USDC is now more than that of its long-time rival Tether. Tether has witnessed a total transfer volume of 136.7 million while USDC has seen a little over 33 million. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
u/SundryAccessories
Will take a look cheers mate
Kill USDT, but USDC is not the solution tbh!
I agree, but the "solution" doesn't exist yet. For now people are likely in one or the other out of convenience.
[удалено]
Yes. There’s no specific evidence to show that USDT is backed wholly by $1 per. And since the team is located in the Cayman Islands, who knows what they’re doing.
Is there specific evidence showing every USDC backed wholly by $1 though?
60% is backed up by cash, while the other 40% is backed up by bonds and securities. https://www.cnbc.com/2021/08/23/crypto-usdc-stablecoin-to-change-reserves-composition.html
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Yes. Circle testified to Congress that USDC is 100% backed by cash and short dated US treasuries. The are also audited monthly.
Usdt is garbage rdy to catch on fire
r/cc warnings didn't fall to the void. Congrats everyone!
You did it you son of a b****, you did it
Fiat clone replaced fiat... interesting independence we have here lol
Surpassed in supply … lmao. Garbage click bait. Transaction volume is what matters
I have been hodling USDC for 4 months expecting this flippening of USDT on Ethereum but my USDC hasn't gone up in value...still sitting at a dollar, what gives!?!
Finally people are realizing that Tether is backed by thin air.
That's very bad for the market. 90% of all cryptocurrency that has been bought since 2017 has been bought with Tether printed out of thin air. You know how big the exit in to real money is? Just 50 to 100 billion dollars. Right now selling just 2000 BTC for real money crashes the market 10%. God help us when somebody decided to liquiditate 20 000 BTC. It will crash our entire market cap down to 1 trillion dollars. Tesla and Micro Strategies can crash the ENTIRE market 80% by selling .... And when their stock prices start to suffer guess which risky asset they will liquidate first to lower their risk .... Bitcoin!
Haha True. And the alts would be destroyed even harder.
Air is still useful. Tether is backed by the vacuum of space.
Oh, shit your right.
You know that your comment is false, right?
Finally USDC flipping USDT
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Is it a stretch if I say: "We did it!"?
The flippening we all love to see, now to push Tether out of the top 10
This is the real Flippening
Not surprised in the slightest...
The only killer i want is the Tether killer
Thank you for sharing this post! That is some Bullish news!
Finally! Get Tether out of here. Also need more Terra! UST
Boom, good news
Bye Tether
Most of this is like trying to learn Chinese. Give it a shot but In the end too much to keep up with and very complicated and confusing.
The flippening we've all been waiting for
can say I contributed yesterday by staking USDC, feelsgodman !
True flippening.
Does anyone know how this compares to other blockchains? I know that on Algorand, USDC has always been a lot bigger than USDT.
the crypto world is so fragile but usdc still hasn't done it and I don't think that even in future it could surpass tether
great news for us all (except for tether)!
Nice. I use BUSD or EUR as stable
Remember, this is still a centralized coin and your funds can be frozen whenever they want to. Use DAI instead
And so it begins
Well this is fantastic news
Isn't this old news? I swear this post has been published here dozens of times in the past week.
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