Ethereum's USDT Dominance, Rumble's Bitcoin Strategy, and More
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Ethereum Reclaims USDT Dominance
Ethereum has overtaken Tron as the leading blockchain for Tether (USDT), marking a significant shift in the stablecoin landscape. With a 10% increase in USDT supply on Ethereum, the blockchain now holds $60.3 billion worth of USDT compared to Tron’s $58.1 billion. This development is crucial for the Southeast Asian market, particularly Indonesia, where stablecoins are pivotal for trading and liquidity. Ethereum’s dominance could enhance financial inclusion and digital asset adoption in the region.
Rumble’s Bitcoin Investment Strategy
Rumble, a YouTube alternative, has announced plans to invest up to $20 million in Bitcoin, reflecting a growing trend among companies to hold Bitcoin as a strategic asset. This move is significant for Southeast Asia, where digital currencies are gaining traction as a hedge against inflation and currency devaluation. Rumble’s decision could inspire local firms to explore similar strategies, potentially boosting Bitcoin’s adoption in Indonesia.
Ripple’s Tokenized Money Market Fund
Ripple has launched the first tokenized money market fund on the XRP Ledger, partnering with Archax to tokenize abrdn’s $4.77 billion US dollar Liquidity Fund. This initiative highlights the increasing tokenization of real-world assets, offering operational efficiencies and cost savings. For Southeast Asia, this could mean more accessible investment opportunities and a push towards digital asset integration in traditional finance sectors.