As of now, there are more and more stablecoins on the market, besides USDT, another high market cap is USDC. Recently, many new stablecoins have also emerged with various uses, such as projects that earn funding rates through hedging.

This allows investors to have diverse choices and diversify risks. In this era of various stablecoins competing, it is not necessary for one to emerge as the sole winner; healthy competition can also play a role in rapid development for the industry.