{"id":513747,"date":"2022-12-27T00:50:38","date_gmt":"2022-12-27T05:50:38","guid":{"rendered":"https:\/\/uniquehot.com\/?p=513747"},"modified":"2023-03-08T07:26:35","modified_gmt":"2023-03-08T07:26:35","slug":"why-usdt-is-plunging","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/why-usdt-is-plunging\/","title":{"rendered":"Why USDT Is Plunging While Other Stablecoins Are Not"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Stablecoin adoption has grown immensely, observed especially following the collapse of Terra. <\/span><\/p>\n<p><span style=\"font-weight: 400\">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.<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400\">USDT trades at $0.09999 as of this writing<\/span><\/li>\n<li><span style=\"font-weight: 400\">Stablecoin waning in terms of social mentions and engagements<\/span><\/li>\n<li><span style=\"font-weight: 400\">Tether exhibits strength in terms of market cap at $66 billion<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The transfer volume of stablecoins is seeing impressive growth, including USDC, but USDT needs to catch up and gain more traction. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Overall, stablecoins are enjoying a spike in trading volume, having reached roughly $7.5 trillion which is a huge price pump.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to<\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/tether\/\" target=\"_blank\" rel=\"noopener nofollow\"> <span style=\"font-weight: 400\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400\">, USDT (Tether) is trading at $0.09999 or 0.00% as of this writing.<\/span><\/p>\n<h2><b>USDC Leads In Transaction Volume<\/b><\/h2>\n<p><span style=\"font-weight: 400\">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.<\/span><\/p>\n<p><span style=\"font-weight: 400\">USDT falters in the social media department or visibility, which could account for its steady decline.<\/span><a href=\"https:\/\/ambcrypto.com\/is-usdts-throne-up-for-grabs-in-the-last-week-of-2022-this-new-data-suggests\/\" target=\"_blank\" rel=\"noopener nofollow\"> <span style=\"font-weight: 400\">Its social engagements<\/span><\/a><span style=\"font-weight: 400\"> have dropped tremendously by as much as 24.2%, and social mentions have dipped by 13.7% since November. <\/span><\/p>\n<p><span style=\"font-weight: 400\">In comparison, other stablecoins have been actively engaged on social media, padding their popularity.<\/span><\/p>\n<p><span style=\"font-weight: 400\">USDT has had prevailing negative sentiment since early December, but it has improved, and the weighted sentiment is now looking a little positive.\u00a0<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-513788 aligncenter\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/a-15.png?resize=460%2C254\" alt=\"\" width=\"460\" height=\"254\"><\/p>\n<pre style=\"text-align: center\">Source: Dune Analytics<\/pre>\n<p>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<p>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<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-513789 aligncenter\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/aa.png?resize=460%2C161\" alt=\"\" width=\"460\" height=\"161\"><\/p>\n<pre style=\"text-align: center\">Source: Santiment<\/pre>\n<p><span style=\"font-weight: 400\">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.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/vechain-jumps-by-4\/\" target=\"_blank\" rel=\"noopener \">VeChain Jumps By 4% As VET Investors Look To Profit Before Christmas<\/a><\/div>\n<h2><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/RCPOjpEz\/\" width=\"2047\" height=\"979\"><\/h2>\n<h2><b>Japan\u2019s FSA Reconsiders Trading with Stablecoins in 2023<\/b><\/h2>\n<p><span style=\"font-weight: 400\">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.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to recent news reported on December 26, the<\/span><a href=\"https:\/\/cryptoslate.com\/adoption-grows-as-more-than-7t-settled-with-stablecoins-in-2022\/\" target=\"_blank\" rel=\"noopener nofollow\"> <span style=\"font-weight: 400\">FSA of Japan<\/span><\/a><span style=\"font-weight: 400\"> will be removing the ban imposed on the distribution and trading of stablecoins come 2023.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/top-5-cryptocurrencies-this-week\/\" target=\"_blank\" rel=\"noopener \">Top 5 Cryptocurrencies To Keep An Eye On This Week \u2013 Post-Christmas Gainers<\/a><\/div>\n<div><\/div>\n<div>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.<\/div>\n<div>\n<p><span style=\"font-weight: 400\">But, stablecoin distribution in the country will adopt regulations connected to Anti-Money Laundering activities.<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Stablecoin adoption has grown immensely, observed especially following the collapse of Terra. 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. USDT trades at $0.09999 as of this writing Stablecoin waning in terms of social mentions and engagements Tether exhibits strength in terms of market cap at $66 billion The transfer volume of stablecoins is seeing impressive growth, including USDC, but USDT needs to catch up and gain more traction. Overall, stablecoins are enjoying a spike in trading volume, having reached roughly $7.5 trillion which is a huge price pump. According to CoinMarketCap, USDT (Tether) is trading at $0.09999 or 0.00% as of this writing. USDC Leads In Transaction Volume 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. USDT falters in the social media department or visibility, which could account for its steady decline. Its social engagements have dropped tremendously by as much as 24.2%, and social mentions have dipped by 13.7% since November. In comparison, other stablecoins have been actively engaged on social media, padding their popularity. USDT has had prevailing negative sentiment since early December, but it has improved, and the weighted sentiment is now looking a little positive.\u00a0 Source: Dune Analytics 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. As of this writing, the total value of all USDT transactions was $710 million, whereas all USDC transactions were worth $4.4 billion. Source: Santiment 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. Related Reading: VeChain Jumps By 4% As VET Investors Look To Profit Before Christmas Japan\u2019s FSA Reconsiders Trading with Stablecoins in 2023 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. According to recent news reported on December 26, the FSA of Japan will be removing the ban imposed on the distribution and trading of stablecoins come 2023. Related Reading: Top 5 Cryptocurrencies To Keep An Eye On This Week \u2013 Post-Christmas Gainers 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. But, stablecoin distribution in the country will adopt regulations connected to Anti-Money Laundering activities.<\/p>\n","protected":false},"author":557,"featured_media":513791,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[2120,15241,87705,16680,10263,85864],"class_list":["post-513747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-fsa","tag-stablecoins","tag-tether-price","tag-usdc","tag-usdt","tag-usdt-price"],"acf":[],"yoast_head":"\n<title>Why USDT Is Plunging While Other Stablecoins Are Not<\/title>\n<meta name=\"description\" content=\"Stablecoin adoption has grown immensely, observed especially following the collapse of Terra. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Why USDT Is Plunging While Other Stablecoins Are Not","url":"http:\/\/uniquehot.com\/news\/why-usdt-is-plunging\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/why-usdt-is-plunging\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/USDT.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/USDT.png?fit=720%2C400"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["fsa","stablecoins","tether price","usdc","usdt","usdt price"],"dateCreated":"2022-12-27T05:50:38Z","datePublished":"2022-12-27T05:50:38Z","dateModified":"2023-03-08T07:26:35Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Why USDT Is Plunging While Other Stablecoins Are Not\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/why-usdt-is-plunging\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/why-usdt-is-plunging\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/USDT.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/USDT.png?fit=720%2C400\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"fsa\",\"stablecoins\",\"tether price\",\"usdc\",\"usdt\",\"usdt price\"],\"dateCreated\":\"2022-12-27T05:50:38Z\",\"datePublished\":\"2022-12-27T05:50:38Z\",\"dateModified\":\"2023-03-08T07:26:35Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/USDT.png?fit=720%2C400","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/513747"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=513747"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/513747\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/513791"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=513747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=513747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=513747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}