The Expansion of USDt and the Rise of XAUt: A New Landscape in the Stablecoin Market
Recently, Bloomberg pointed out in a monthly report that the growth momentum of USDt is strong, and surpassing Ethereum seems to be just a matter of time. In fact, since March 12, factors such as the demand for margin trading from cryptocurrency traders, the development of the gray industry, and the demand for the US dollar in certain countries and regions have jointly driven the rapid increase in the market value of USDt.
However, while USDt is receiving much attention, other assets issued by Tether that are pegged to stablecoins are rarely inquired about. According to official data, apart from USDt, Tether has also issued stablecoins pegged to the Euro, Renminbi, and Gold, namely EURt, CNHt, and XAUt.
Among them, EURt was issued as early as 2014, but its current market value is only about 45 million euros. CNHt was launched in September 2019, with a market value of about