Tether's market capitalization is poised to hit a record high after regaining 65% stablecoin dominance, surpassing its rival stablecoins USD Coin and Binance USD. Tether's growth is attributed to traders' belief that the currency has no exposure to the potential banking crisis contagion, as opposed to its competitors. Despite its market capitalization growth, Tether's supply across crypto exchanges has been declining in 2023, indicating a shift from "safe" stablecoins to risk-on cryptocurrencies. The shift in market dynamics coincides with a potential stablecoin bill draft that would require non-US firms like Tether to register if they cater to Americans.......See More