In Q2 2023, the crypto market was turbulent, mostly in a downtrend before consolidating, impacting various assets. This market-wide trend has created opportunities for certain currencies to carve out a bigger market share and assert dominance.
Notably, Tether, a stablecoin tracking the USD, has seen significant growth and now holds a record-breaking dominance over alternatives.
Meanwhile, industry experts have speculated that Tradecurve, a new hybrid exchange, could establish itself as a prominent player in the crypto trading world. This is considering the regulatory challenges faced by top exchanges like Coinbase and Binance.
Tether dominating other stablecoins
When crypto prices fall, traders and investors often flock to stablecoins to safeguard their funds until the next bullish run.
Subsequently, Tether (USDT), a stablecoin, has gained prominence in this role. In the first week of June, USDT’s market capitalization reached $83.6 billion, surpassing its previous record of $83.2 billion, registering a record high.
Among stablecoins, the closest competitor to Tether is USD Coin (USDC), which currently holds a market capitalization of $28.6 billion.
Over the past six months, Tether has consistently gained market share from struggling stablecoins like USD Coin (USDC) and Binance USD (BUSD), resulting in a significant increase of approximately $17.8 billion or 27.15% in its market capitalization.
Presently, Tether dominates more than 65% of the stablecoin market.
Apart from its stable value, the trust and transparency that USDT has established over time have contributed to its dominance as the leading stablecoin in the market.
Experts maintain a positive outlook on Tradecurve
Crypto experts have been placing forecasts regarding the potential dominance of Tradecurve, a new hybrid crypto exchange, and how it could dominate crypto trading in the months ahead.
The hybrid exchange model integrated by Tradecurve provides advantages over centralized exchanges such as Binance, Coinbase, and Kraken.
However, experts remains bullish on Tradecurve not only because of the hybrid nature of the exchange but also to another key feature.
The 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 prefer the convenience of managing their assets on a unified platform, to use Tradecurve.
While Tradecurve relies on a blockchain infrastructure, experts anticipate that crypto traders and traders from traditional platforms like FXTM, Deriv, Robinhood, and Tradestation will consider the exchange.
This inclusive approach may drive Tradecurve’s dominance in trading.
Currently, Tradecurve is raising $20 million for the full deployment of its exchange. The presale price of TCRV, its native token, is $0.015.
For what Tradecurve offers, traders and investors are maintaining a positive outlook on the platform; an overview that could support TCRV token prices in the months ahead.
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