Tether USDT don hit $160B market cap as dem dey fear GENIUS Act
Tether dem USDT stablecoin don reach record $160 billion market cap, e demand strong for emerging markets. Demand for Tether USDT still tight as active users jump from 2.8 million for 2020 to 450 million now, plus monthly transfer volume rise to $1 trillion, show how USDT be key liquidity backbone. For the meantime, US House dey plan to check the bipartisan GENIUS Act again, wey go require third-party audit for all stablecoin issuers reserves. If dem fail the audit, stablecoins fit no fit operate for US. Dem try pass GENIUS Act for July 16 but e fail, GOP members promise say dem go do standalone vote for July 17. Traders suppose dey watch USDT market cap and on-chain volume trends as liquidity indicators. Continue regulatory watch and possible competition from regulated like Ripple upcoming RLUSD token fit change stablecoin market and fit affect market stability.
Neutral
Di tori say dat tether USDT stablecoin don reach $160B market cap mean say demand strong well well and liquidity deep, dis one good for trading activity short term. But di pending GENIUS Act plus tight reserve audit fit cause regulatory wahala wey fit limit USDT supply and market waka. For long term, compliance wahala plus competition from regulated ones like RLUSD fit make USDT no too domɛne again. Dis mix of strong growth plus regulatory risk mean say e go balanced for USDT market price as traders dey weigh both side.