USDT MASSIVE GROWTH

It is important you know that a crackdown on USDC will cause serious damage to Ethereum Defi ecosystem and it cause a serious damage to ETH also but it will be positive for USDT. The uncertainty going on with USDC has been making USDT grow massively. USDT market recently claim 80 billion dollar, it is because of the leverage trading that has gone up beyond imagination since the beginning of this year. You should know sideways price action could further increase leverage demand because trading will want to take advantage of little price movement. We could see USDT marketcap skyrocket far beyond $83 billion if a lot of people keep demanding USDT.

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Because USDT is seeing a sudden growth, there has been several regulatory scrutiny from United States. A report came out from Forbes last 2 months that Tether has been saving more than half of than half it USDT reserve in the United States banks but a recent report claim they are longer in the US. It is good that it reserve is no longer in the US because the US authorities may want to freeze the reserve one day. Now that the Tether's reserve is no longer in the US, it means that it reserve can not be easily ease but the is potential that tether may still have connections to the United States banks which impact the USDT if some weird happen.

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Another good reason why we are seeing huge growth of USDT, is the demand for US from countries that are not having good relation with the United States. There are a time that the US dollar was the currency of choice for the Chinese elite to move money in and out of the mainland. If it is true that that is still the same thing that is still happening, that means that countries like Chinese and Russia will make sure USDT survive. It is important you know that there are more things to cryptocurrency and macro economy that draw people's attention.