Many cryptocurrencies built their reputations on the potential for mouth-watering price increases, benefitting early investors.
Others opted to instead peg their value to an established fiat currency, such as the dollar, in order to escape the wild volatility that afflicts the rest of the market.
Tether became a stalwart of the stablecoin scene, not just attracting people looking for an asset to act as a store of value, but also appealing to anyone more interested in the utility of crypto outside of its investment potential.
Let’s talk about why Tether’s dominance isn’t all that desirable, and what alternative route the market should follow to avoid this in the future.
The blip that nearly sank the ship
Until recently, Tether looked like a safe bet which deserved its flagship position as the most popular stablecoin.
With this dominance came adoption in a number of areas. For instance, there are a number of Tether casinos where you can deposit and gamble with this currency.
Tether’s...
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