Tether, a serious threat to Ethereum? The number of USDT holders exceeded 530 million!
In line with this, Tether has coinuously expanded its reserves and now holds $141.6 billion in Treasuries, 96,184 Bitcoins and 127.5 tons of gold to reduce the risk of liquidity conceration. However, the short-term disruption of USDT’s price adherence to $1 has raised concerns about its sustainability.
Analysts say Tether’s unprecedeed growth has led to a strong conceration of liquidity and systemic importance in one asset, and any sustained weakness in the price could have a far-reaching impact on the eire crypto market.
At the same time, if this trend coinues and funds move to stablecoins during prolonged periods of risk aversion, USDT could even become a serious competitor to Ethereum in terms of market capitalization.
