If Tether is listed at the same valuation multiple as Circle, its market value may exceed $500 billion! USDT's annual EBITDA is expected to reach $7.4 billion, and its global users have exceeded 420 million, making it a substitute for the US dollar in countries with high inflation. At the same time, although Circle has just been listed and has strong compliance, its market share is far less than USDT. A new stablecoin landscape is quietly brewing...