Ethereum’s stablecoin lead at risk? – Tether and Circle’s moves raise concerns

The stablecoin sector has experienced an incredible growth of 4,600%, climbing from 5 billion USD to 240 billion USD within five years.

Ethereum currently leads the market with 115 billion USD in stablecoin supply, closely followed by Tron at 80 billion USD.

Tether’s Plasma project attracted significant investments, raising 500 million USD. However, concerns regarding centralization from Tether and Circle’s strategies are increasing.