February 13 News, Bloomberg industry research analyst Mike McGlone stated that in the future, USDT stablecoins may surpass Bitcoin and Ethereum in market capitalization and influence, becoming the new dominant force in the crypto market. This view is not based on short-term price fluctuations but stems from long-term observations of global capital structures, liquidity demands, and digital financial trends.
McGlone believes that as market participants increasingly prioritize security, stability, and cross-border efficiency, stable assets pegged to the US dollar are gaining unprecedented appeal. USDT does not rely on price appreciation to demonstrate value; its core advantages lie in usage and liquidity: traders convert funds into USDT during market volatility, institutions use it for settlement and hedging, and cross-border users see it as a digital alternative to the US dollar.
In contrast, Bitcoin and Ethereum, while still regarded as “digital gold” and representatives of decentralized infrastructure, tend to see their high volatility drive funds toward more stable assets during market downturns. The rising demand for stablecoins in uncertain environments is gradually shifting them from “supporting roles” to “core tools.”
From a data perspective, USDT has long ranked among the top in daily global digital asset trading volume, often surpassing individual cryptocurrencies in liquidity. Meanwhile, decentralized finance systems heavily rely on stablecoins as collateral and settlement mediums; lending, derivatives, and yield protocols all depend on them. This “base-layer asset” status embeds USDT deeply into the crypto economy.
Globally, the integration of digital payments and blockchain technology is accelerating. Many countries are discussing digital currency frameworks, and traditional finance is exploring blockchain settlement. Stablecoins are at a critical juncture in this transition. If the application of digital dollars continues to expand, the scale and influence of USDT could further grow.
Whether USDT can truly surpass BTC and ETH remains uncertain, but this discussion itself reveals an important shift: the leadership in the crypto market may be moving from a “high-volatility value narrative” to a “stable, high-frequency, globally tradable financial tool.”
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