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COINTURK NEWS > Tether (USDT) > Tether Faces Removal from EU Exchanges as Concerns Arise
Tether (USDT)

Tether Faces Removal from EU Exchanges as Concerns Arise

In Brief

  • Tether's removal from EU exchanges raises concerns but offers potential buying opportunities.

  • USDT's situation is linked to new EU regulations on stablecoin reserves.

  • The stablecoin market remains robust, with Tether's market cap continuing to rise.

İlayda Peker
İlayda Peker 4 months ago
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The largest stablecoin in the cryptocurrency market, Tether, is set to be removed from exchanges within the European Union (EU). This decision, effective today, has sparked waves of fear, uncertainty, and doubt (FUD) in the crypto market. However, some experts perceive this development as a buying opportunity. Crypto analyst Axel Bitblaze noted that similar FUD incidents concerning Tether have occurred previously, often leading to positive outcomes in the long run. Despite raising issues about the future of stablecoins, experts urge investors to remain calm.

Contents
Why Will USDT Be Removed from EU Exchanges?Is the Stablecoin Market in Danger?

Why Will USDT Be Removed from EU Exchanges?

The removal of USDT from EU exchanges stems from the EU’s new MiCA regulations. For those unfamiliar, MiCA imposes strict rules on the reserves of stablecoins. Since Tether does not meet these reserve requirements, EU exchanges must withdraw USDT from their platforms. However, this does not imply that USDT will be illegal in the EU.

Tether USDT

Bitblaze emphasized that investors can still hold USDT in their wallets and trade it on decentralized exchanges (DEX). Therefore, the restriction will only apply to USDT transactions on MiCA-compliant exchanges.

Is the Stablecoin Market in Danger?

Despite the discussions surrounding USDT, the stablecoin market appears to remain strong. Currently, Tether has a market capitalization of $138.5 billion, with daily transactions around $44 billion. Notably, approximately 80% of this volume comes from Asian markets. Bitblaze remarked that the value of assets is not solely dependent on the stablecoin used, stating that regardless of whether one uses USDT, Bitcoin $104,616, or fiat, properly secured assets remain safe. This incident may prove the long-term resilience of the stablecoin market.

Tether has previously faced challenges, including investigations in the United States and other FUD incidents, yet has managed to recover each time. Bitblaze anticipates that the market will move past this situation by February or March 2025.

Finally, the analyst does not expect this situation to undermine Tether’s market dominance. As USDT’s market capitalization and demand continue to grow, he noted that the short-term challenges posed by this event may have limited long-term effects.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 30 December, 2024 - 6:15 pm 30 December, 2024 - 6:14 pm
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