Hi! Would like to learn your thoughts on why Tether can maintain its dominant market share while keeping its opaque reserve management scheme. Only because they are the first? Any other reasons behind?
In my opinion, it's as simple as tether being the first and adopted widely on most of exchange that they got the most liquidity in their pair.
USDT pair always miles ahead in term of volume compared to USDC. People are also used to USDT pair and there are some people out there who thinks USDT as just USD.
I think it's as simple as that, they got the benefit of being the first and USDT can mantain its dominance until now.