What I don’t understand is why market participants don’t use those rather than Tether. If I had a bunch of Tether today, why wouldn’t I move it to USDC or similar?
If I had to choose USDC or USDT though, I'd rather hold funds in USDC. In general I'm not much of a fan of stablecoins though, but I do acknowledge the quick, 24/7 transfers they offer is interesting, as well as the high APRs for lending them. However, I'd still rather just hold fiat vs stablecoins. I find other cryptos to be much more compelling.