Opinion: USDT remains the stablecoin of choice for most crypto traders

USDT is still the stablecoin of choice for most crypto traders. USDT is still widely used despite criticism that Tether is not fully backed by fiat currencies and banking issues with iFinex. USDT's market share is still above 97%, although more stablecoins hope to challenge its position. But it turns out that stablecoins, which are fully backed by fiat currencies, are being used as exit ramps for fiat currencies, and their supply is decreasing. In addition, the move to a new blockchain also means that USDT is working in more markets, as is the case with Tron-based stablecoins. According to data shared by InfoSec manager Mike McCarthy on November 26, 18.7% of USDT is now on the Tron blockchain. The main advantage of Tether is its increasing adoption. Recently, even NiceHash has adopted USDT in internal transactions.