Competitors aim to push Tether out of market, most altcoins predicted to underperform in 2025

From Cointelegraph
February 28, 2025 2:00 pm:

Tether, the world’s largest stablecoin issuer, is facing pressure from competitors and politicians aiming to reduce its market share. Paolo Ardoino, CEO of Tether, stated that rivals are working to push Tether out of the crypto market. Tether’s market value is over $142 billion, more than double that of USD Coin.

Crypto analysts predict that most altcoins won’t experience a significant rally in 2025, only select tokens with strong fundamentals will outperform. Ki Young Ju, CEO of CryptoQuant, stated that many altcoins won’t succeed in the upcoming market cycle. Projects with ETF approvals and sustainable models may perform better.

The Bybit hacker has laundered over $335 million in digital assets following the $1.4 billion exploit. The hacker moved 45,900 ETH in the past 24 hours, totaling over 135,000 ETH laundered. Investigators are tracking the stolen funds. The recent hack has impacted investor sentiment in the crypto market.

US lawmakers are advancing a resolution to repeal the “DeFi broker rule,” which requires reporting of digital asset transactions to the IRS. The regulation, set for 2027, expands reporting requirements to include decentralized exchanges. The House Ways and Means Committee voted to advance the resolution to repeal the rule.

MetaMask is adding a fiat off-ramp for 10 blockchains to simplify asset conversion into traditional currency. Users were previously required to swap assets into Ether before converting to fiat. MetaMask’s partnership with Transak will support 10 new networks for off-ramping, enhancing accessibility for users.

Read more at Cointelegraph: Competitors want to ‘kill Tether,’ most altcoins ‘won’t make it’ in 2025: Finance Redefined