The world's largest stablecoin Tether encountered challenges due to the EU's new regulation MiCA, and its market value plummeted by 2 billion in December!
The MiCA regulatory stick is about to fall at the end of 2024. Tether obviously did not meet the standard, which made European exchanges anxious and removed Tether's USDT in advance.
As a result, the market value of USDT fell from 140.5 billion US dollars to 138 billion US dollars in a week. This is the biggest drop in its continuous rise for a year, and even the trading price is about to fall below 1 US dollar!
Although everyone has doubts about the future of USDT in Europe as soon as the MiCA rules came out, to be honest, holding USDT is not illegal.
You can deposit it in a non-custodial wallet or trade it on a decentralized exchange, but you can't use USDT in an exchange that complies with MiCA.
Some people are worried to death and think that USDT is going to end. But I think this is completely unfounded.
Tether's trading volume in Asia accounts for 80%, and this blow from the EU is nothing to it.
Although there are rumors flying all over the market, USDT's market value has only dropped a little bit, and its trading volume still exceeds the sum of the other ten major cryptocurrencies.
Tether has also been preparing for regulation for a long time. While reducing its European business, it has also invested in stablecoins that comply with MiCA.
So I think these rumors are good opportunities to buy. When FTX went bankrupt and the US government investigated Tether, the market was also in a panic, but Bitcoin still rose to $100,000.
As Samson Mow said, it is a joke to attack Tether with rumors now.
Tether now has an asset management scale of $143 billion, is one of the top 20 holders of US Treasury bonds, has a trading volume 16 times more than its competitor USDC, and provides services to hundreds of millions of users in the southern hemisphere.
In short, don't be too nervous. Just listen to these rumors. After this period of time, you will see that USDT will definitely be sitting there steadily.
The opportunity is coming soon. For the next layout direction, I will lead everyone to aim at the profit opportunities of copycats. There is no problem in expecting more than 10 times the space. Like + leave a message, and I will lead you to layout the entire bull market!