Tether (USDT) Price Prediction, Is USDC A Safer Alternative?

Stablecoins are the crypto alternative of fiat, allowing traders to hold their profits in decentralized dollars while they wait for their next strategic move. However, with the rise of government-controlled CBDCs (Central Bank Digital Currencies), many of the people’s favorite stablecoins have been targeted, such as Binance’s BUSD, and more recently, PayPal’s offering – PYUSD. This means that there are only two main non-CBDC stables that people trust – Tether’s USDT and USDC Which one should you hold your gains in? And is there an even better way to store your money?

Is Tether going to $0?

As a stablecoin that is pegged to the dollar, we would hope that USDT stays at $1. But will it? Both USDT and USDC have experienced flash crashes in the past, although USDT has performed better out of the two, falling to $0.986 on Friday 13th(!) of March 2020, and $0.93 in April 2017. USDC, on the other hand, fell to USDC to $0.86 following the run on the Silicon Valley Bank.

Tether has been historically disliked by the crypto community. That’s because the coin was not safely collateralized. Stablecoins like USDT and USDC keep their peg by being backed by real world assets. Previously, Tether was backed by things like risky ‘commercial paper’ debt. And has been involved in ious scandals. However, Tether has now shed this risky debt and has released a series of transparency reports which show that the company no longer relies on risky assets, and is overcollateralised by at least 4%. They are also investing their profits into Bitcoin mining and other initiatives.

So what about USDC?

USDC is backed by the Centre Consortium and Circle. But more importantly, USDC has friends in high places. The USDC tokens are completely backed by fiat in banks and by the Circle Reserve Fund. This fund, registered with the SEC, consists of a collection of short-term US Treasuries, overnight US Treasury repurchase agreements, and cash. Custodied at The Bank of New York Mellon and overseen by BlackRock, this Reserve Fund undergoes monthly validation by Deloitte, one of the world’s major auditing firms.

So although USDC has had a harder time consistently maintaining its peg, on the whole, it’s more transparent. And it may just be too well connected to fail, given that Blackrock is the biggest asset manager in the world.

What if you don’t trust either stablecoin?

For now, using stablecoins is pretty essential to the crypto eco, especially when cashing out of large positions. However, if you don’t feel comfortable holding your reserves in these assets over the long term, there is another way. The riskier but potentially more profitable strategy, is to keep your crypto in large cap assets such as Bitcoin and Ethereum, and diversify with small cap coins and presale projects.

One of the wonderful things about crypto is that memecoins have made many into millionaires. Now imagine that you combine the power of the meme with a decentralized exchange, a play to earn game, and a vibrant meme-lover community, and then tie it to a coin in presale.

Sounds almost too good to be true right? Wrong! Meme Moguls will do all of that and more. Trading memecoins is about to become more fun than ever, and with a competitive edge that will push people’s trading skills to new heights.

Meme Moguls is releasing the $MGLS token which will power the eco. The Meme Mogul team aim to empower the meme coin community and make 100 millionaires in its first 3 months of launch. Their plan is for the token to do a 100x, so if you invest $1 you could make $100. If you invest $100 you could make $10,000, and if you go big with an investment of $10,000, you’re looking at a cool million in potential gains!

But even if you don’t have that much to put in, you can start with what you have and then enjoy the Meme Moguls platform to play, earn and learn until you get yourself to lambo status. Take a look at their website to find out more about this innovative new project that is just beginning its presale.