Ethereum Reclaims USDT Dominance, Ripple's Tokenized Fund, and More

Ethereum Reclaims USDT Dominance

Ethereum has overtaken Tron as the leading blockchain for the Tether stablecoin (USDT), marking a significant shift in the crypto landscape. With $60.3 billion worth of USDT on Ethereum compared to Tron’s $58.1 billion, this development highlights Ethereum’s growing influence. For Southeast Asia, particularly Indonesia, this shift could mean increased opportunities for financial institutions to leverage Ethereum’s robust infrastructure for tokenizing real-world assets, enhancing liquidity and capital flow in the region.

Ripple’s Tokenized Money Market Fund

Ripple has launched the first tokenized money market fund on the XRP Ledger, in partnership with Archax. This initiative involves tokenizing abrdn’s $4.77 billion US dollar Liquidity Fund, showcasing the potential of blockchain technology in transforming traditional financial assets. For Indonesian investors, this could open new avenues for participating in global financial markets through tokenized assets, offering greater transparency and efficiency.

Rumble’s Bitcoin Investment Strategy

Video-sharing platform Rumble has announced plans to allocate up to $20 million of its cash reserves to Bitcoin, reflecting a growing trend of institutional adoption of cryptocurrencies. This move underscores Bitcoin’s role as a hedge against inflation and its potential as a strategic asset. As Southeast Asia continues to embrace digital currencies, Rumble’s strategy could inspire local companies to explore similar investments, fostering a more crypto-friendly business environment.

Avalanche’s Major Upgrade

Avalanche is undergoing its largest upgrade since its mainnet launch, with Avalanche9000 now live on the Fuji testnet. This upgrade promises to reduce deployment costs significantly and unlock over $40 million in rewards for developers. For the Indonesian tech community, this presents an exciting opportunity to engage with cutting-edge blockchain technology, potentially driving innovation and development in the local ecosystem.