Bolivia's USDT Shift: Stablecoin Adoption Grows
A significant shift is occurring in Bolivia as stablecoins reshape daily transactions. Shops are increasingly displaying prices in Tether's USDT, a trend reflecting changing consumer behavior.
- Bolivian shops now price goods in USDT, indicating rising stablecoin acceptance.
- Tether maintains its market leadership with a weekly volume of $132.97 billion and a 61% market share.
Tether's Success
Tether CEO, Paolo Ardoino, celebrated USDT's growing integration into everyday transactions. This reflects increasing public confidence in stablecoins amidst economic uncertainty, as noted by the Central Bank of Bolivia. Some products are even priced exclusively in USDT.
Source: Paolo Ardoino/X
Market Dynamics
The crypto market shows signs of recovery. According to Santiment data, Ethereum boasts over 148 million holders, followed by Bitcoin with 55 million. Even Dogecoin has almost 8 million holders, slightly surpassing Tether's 7.79 million.
Source: Santiment/X
Expert Opinions
Artemis CEO, Jon Ma, commented on Tether's dominance, suggesting it could persist despite potential USDC growth. He highlighted Tether's profitability and the importance of thorough due diligence when evaluating stablecoins.
Source: Jon Ma/X
“Either way, crazy how profitable Tether is.”
USDT’s strong financial metrics and widespread usage solidify its position as a leading stablecoin. Its June weekly transaction volume reached $132.97 billion (Visa on-chain analytics), further emphasizing its market dominance and reliability.
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