It's quite amazing how rapidly the volumes have picked up of the alternatives the moment Tether once again messed up. PAX has currently 178.5 million tokens in circulation, and is doing almost as much in volume, which is very impressive. Coinbase's USDC has some catching up to do in that regard, but growth is growth regardless of how you look at it.

I'm certain that if Tether didn't mess up alternative stablecoins would remain stagnant for a long time. People as always need these events to wake up and acknowledge how serious the situation actually is. One must be an utter fool to hold any amount of USDT knowing that Bitfinex can be over and done the next day.