$USDC
**Market Dominance**
- USDT remains the largest stablecoin by market cap (over **$110 billion** as of mid-2024).
- It continues to dominate trading volumes across crypto exchanges, especially in Bitcoin (BTC) and altcoin pairs.
2. **Regulatory Scrutiny**
- Tether has faced ongoing regulatory attention, particularly from U.S. authorities, regarding reserves transparency and compliance.
- The company claims its reserves are fully backed, but some skepticism remains in the crypto community.
3. **New Blockchain Integrations**
- USDT is now available on **additional blockchains** (beyond Ethereum, Tron, Solana, etc.), improving cross-chain liquidity.
- Recent integrations may include **TON (The Open Network)** and other emerging Layer-1/Layer-2 networks.
4. **Increased Competition**
- Competitors like **USDC (Circle)** and **FDUSD** are growing, but USDT still holds the largest market share.
- Some exchanges and DeFi platforms are diversifying stablecoin usage, reducing reliance on USDT.
5. **Tether’s Transparency Reports**
- Tether periodically releases **attestation reports** (not full audits) showing its reserves, which include cash, Treasuries, and other assets.
- Critics still push for more frequent and detailed audits.
6. **Stablecoin Regulations (US & EU)**
- The **EU’s MiCA (Markets in Crypto-Assets)** regulation now imposes stricter rules on stablecoin issuers.
- The U.S. is also advancing stablecoin legislation, which could impact USDT’s operations if stricter rules are enforced.
