{"id":517,"date":"2026-01-04T10:00:00","date_gmt":"2026-01-04T09:00:00","guid":{"rendered":"https:\/\/kriptoblog.hu\/?p=517"},"modified":"2026-03-02T14:13:25","modified_gmt":"2026-03-02T13:13:25","slug":"stablecoin-haboru-usdt-usdc","status":"publish","type":"post","link":"https:\/\/kriptoblog.hu\/en\/stablecoin-haboru-usdt-usdc\/","title":{"rendered":"Stablecoin Wars: USDT vs USDC vs Next-Generation Challengers"},"content":{"rendered":"

The Stablecoin War<\/h2>\n

Stablecoins form the invisible backbone<\/strong> of the cryptocurrency market. Their daily trading volume often exceeds Bitcoin's own. In 2026, the stablecoin market surpasses the $200 billion<\/strong> market capitalization. But who wins the race: the veteran Tether, the regulation-friendly USDC, or the next-generation challengers?<\/p>\n

The Three Big Guns<\/h2>\n

Tether (USDT) \u2013 The Controversial King<\/h3>\n

Tether is the stablecoin market's dominant player<\/strong>with ~60% market share:<\/p>\n

    \n
  • Market capitalization:<\/strong> 130+ billion USD<\/li>\n
  • Availability:<\/strong> Present on virtually every exchange and blockchain<\/li>\n
  • Controversial reserves:<\/strong> For years it was questionable whether every USDT was backed by real dollars. Tether has since published regular (though not comprehensive) audit reports<\/li>\n
  • Profitability:<\/strong> Tether in 2024 ~10 billion dollars<\/strong> in profit from US Treasury bills held in its reserves \u2014 more profitable than Goldman Sachs<\/li>\n<\/ul>\n

    USD Coin (USDC) \u2013 The Regulated Alternative<\/h3>\n

    USDC, issued by Circle, is the \"trusted\" stablecoin:<\/p>\n

      \n
    • Market capitalization:<\/strong> 45+ billion USD<\/li>\n
    • Full transparency:<\/strong> Monthly audit by Deloitte, 100% dollar and Treasury bill backing<\/li>\n
    • MiCA-compliant:<\/strong> The first major stablecoin to comply with EU regulation<\/li>\n
    • Institutional favorite:<\/strong> BlackRock, Visa, and other major institutions prefer USDC<\/li>\n<\/ul>\n

      DAI \/ USDS (Sky Protocol)<\/h3>\n

      The only major decentralized<\/strong> stablecoin:<\/p>\n

        \n
      • Crypto-collateralized (ETH, stETH, USDC, and RWA assets)<\/li>\n
      • MakerDAO rebranded in 2024 as Sky Protocol<\/li>\n
      • Alongside DAI, USDS appeared \u2014 better suited to the regulatory environment<\/li>\n<\/ul>\n

        The Next-Generation Challengers<\/h2>\n

        Euro stablecoins<\/h3>\n

        The MiCA regulation opened a new category:<\/p>\n

          \n
        • EURC (Circle):<\/strong> Euro-based stablecoin with growing trading volume<\/li>\n
        • EURS (Stasis):<\/strong> European-issued, euro-pegged token<\/li>\n
        • A digital euro<\/strong> its emergence further shapes the market<\/li>\n<\/ul>\n

          Yield-Generating Stablecoins<\/h3>\n

          The newest trend: stablecoins that also pay yield<\/strong>:<\/p>\n

            \n
          • Ethena (USDe):<\/strong> Delta-neutral strategy-backed synthetic dollar, 10-25% APY \u2014 quickly grew above 5 billion USD<\/li>\n
          • Ondo (USDY):<\/strong> Tokenized Treasury bill-based stablecoin, ~5% yield<\/li>\n
          • Mountain Protocol (USDM):<\/strong> EU-regulated yield-bearing stablecoin<\/li>\n<\/ul>\n

            The Displacement of USDT from Europe<\/h2>\n

            The MiCA regulation came into effect from the end of 2024, and Tether did not apply for an EMI (Electronic Money Institution) license in the EU:<\/p>\n

              \n
            • Several EU exchanges restricted or discontinued<\/strong> USDT trading<\/li>\n
            • USDC took over the leading stablecoin role in the European market<\/li>\n
            • This is one of the biggest regulatory reshuffles in crypto history<\/strong><\/li>\n<\/ul>\n

              Stablecoin Risks<\/h2>\n
                \n
              • De-peg risk:<\/strong> In 2023, USDC briefly lost its parity due to the Silicon Valley Bank collapse<\/li>\n
              • Regulatory risk:<\/strong> Any country can restrict stablecoin usage<\/li>\n
              • Counterparty risk:<\/strong> Centralized stablecoins are backed by companies \u2014 if they go bankrupt, the token's value could drop to zero<\/li>\n
              • Algorithmic risk:<\/strong> Terra\/Luna's $40 billion collapse (2022) showed that algorithmic stablecoins are particularly dangerous<\/li>\n<\/ul>\n

                Summary<\/h2>\n

                The stablecoin market is crypto's most important infrastructure \u2014 and its fiercest battleground<\/strong>. Tether dominates, but under regulatory pressure, USDC is gaining strength. Next-generation yield-bearing stablecoins could rewrite the rules of the game.<\/p>\n

                Stablecoins aren't boring \u2014 stablecoins are the real power game of the crypto market. Whoever controls the stablecoin controls the market.<\/em><\/p>\n

                \u26a0\ufe0f Legal disclaimer:<\/strong> This article is for informational purposes only and does not constitute investment advice. All investment decisions are made at your own risk.<\/p>\n

                <\/p>","protected":false},"excerpt":{"rendered":"

                A stablecoin h\u00e1bor\u00fa A stablecoinok a kriptovaluta-piac l\u00e1thatatlan gerinc\u00e9t alkotj\u00e1k. Napi forgalmuk gyakran meghaladja mag\u00e1t a Bitcoin\u00e9t. 2026-ban a stablecoin piac meghaladja a 200 milli\u00e1rd doll\u00e1ros piaci kapitaliz\u00e1ci\u00f3t. De ki nyeri a versenyt: a veter\u00e1n Tether, a szab\u00e1lyoz\u00e1sbar\u00e1t USDC, vagy az \u00fajgener\u00e1ci\u00f3s kih\u00edv\u00f3k? A h\u00e1rom nagy\u00e1gy\u00fa Tether (USDT) \u2013 A vitatott kir\u00e1ly A Tether a […]<\/p>\n","protected":false},"author":1,"featured_media":548,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,1],"tags":[162,29,158,153,156,151,136,143,5],"class_list":["post-517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hirek","category-kereskedes","tag-audit","tag-ethereum","tag-europa","tag-mica","tag-piac","tag-stablecoin","tag-szabalyozas","tag-token","tag-tozsde"],"_links":{"self":[{"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/posts\/517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/comments?post=517"}],"version-history":[{"count":1,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/posts\/517\/revisions"}],"predecessor-version":[{"id":549,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/posts\/517\/revisions\/549"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/media\/548"}],"wp:attachment":[{"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/media?parent=517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/categories?post=517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/tags?post=517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}