Circle's USDC, one of the dominant stablecoins in the cryptocurrency market, has raised its redemption fees for the second time in 2024, leading to increased demand for alternative stablecoins. This decision comes as USDC has lost market share to Tether's USDT, which now has over 70% dominance in the stablecoin market. Analysts believe that this fee increase may slow down demand for USDC from institutions and high-net-worth individuals. As a result, alternative stablecoins such as Maker's DAI and Hatom's USH may see increased demand in 2025. However, it is important for users, traders, and investors to understand that these alternatives are still experimental and carry significant risks. Maker's DAI is an overcollateralized stablecoin, while Hatom's USH uses a similar model to DAI. Both stablecoins aim to maintain a peg to the US dollar. Hatom Labs is currently conducting public testing for USH on an open testnet. Hatom also plans to incentivize investors to provide liquidity and stake USH in other protocols. The MultiversX blockchain, which hosts USH, has gained attention from market players and has been touted as a promising Ethereum rival. Overall, the stablecoin market is expected to continue evolving in the coming years, with various alternatives competing for user attention and liquidity.



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