JPMorgan Evaluates Binance’s Stablecoin Move: In Favor of Tether (USDT)

Analysts from the US giant investment bank JPMorgan Chase stated that the stablecoin decision taken by Binance in the past weeks may be in favor of USDT (Tether).

According to a memo from the investment bank’s official website, JPMorgan analysts said that Binance has USDC (USD coin) deposits to BUSD (Binance USD) automatic conversion decision USDT He said it might be in his favour.

Binance, with the decision it took in the past weeks from September 29 from USDC, USDP (Pax Dollar) and TUSD (True USD) stablecoins to BUSD stated that it would be automatically translated. In addition, other stablecoins other than BUSD and USDT Bitcoin (BTC) and Ethereum (ETH) pairs against cryptocurrencies such as will close had announced.

Analysts said that this decision is in favor of USDC. a strong actor In the stablecoin universe, where USDT has started to become increasing the importance He said it’s likely. The last of the JPMorgan USDT at 18 months market share to 22% He pointed out that he had lost a loved one. Importance of USDT with market value only not at the same time as well as in commerce Analysts stating that it is related to USDT 11th when using in different network, USDC only 8 used in the network and the average of USDT daily trading volume USDC approx. 10 times said that.

Investment bank analysts say this decision USDT and USDC in the race between in favor of USDT There is a move, but Binance’s BUSD pairs commission reset and USDT/BUSD parity removing the commission in It will take advantage of BUSD stated.

source site-9