Binance finally Dithcing BUSD, Now USDT is inevitable
Yesterday I got the message that binance is moving away from the busd. And their trust company called PAXUM has decided to get out of the BUSD support. So the binance has no option than to allow the users to swap the BUSD.
Now the cryptocurrency BUSD is being offered in swap for every account.You can choose to swap to the phantom USD also known as the FUSD and the other stablecoins. So you are going to struggle on that front. And you can also swap or trade to other stablecoins.
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What are my options?
So you have options like in the USDT, USDC, TUSDT and even the FUSD. So something of that type you have to make a choice. And that means if you choose not todo that then it would be swapped to other stablecoins. I am sure FUSD is the default for now.
In near future there would be no other stablecoin than the one SEC is going to approve. So one has to make a choice here. How long you are going to be fighting this fight and try to push. So the USDT seems like a good and safe choice.
What should traders do?
Most of the traders are making use of the USDT and they seem to be getting it swapped in the p2p too. So you have some amount of the time to trade the tokens and also get the other FIAT being shared for that. It may become regular normal now for most traders.
Like each trader does the pair selection. So the traders are going to push for the USDT. And that means more traders are going to be holding the USDT. So it is going to have some strong value. And the stablecoins like USDT, USDC and other stablecoins would have more exposure too.
USDT domination would now begin. As each chain has the tether in the market so there would be multiple options on each chain for that matter. And we would be again chasing the conversion at the time of fiat conversion as well.
Most of the people would be choosing either USDC and may near future even choose the PYUSD too. We just don't know what could be option for other stablecoins based on their market impact.
Posted Using LeoFinance Alpha
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