The recent passage of the GENIUS Act introduced a new regulatory framework for stablecoins, such as Tether (USDT), drawing increasing attention from traditional and cryptocurrency firms.

Tether’s Regulatory Challenges And Rising Rivals

With the stablecoin market growing from $120 billion in October 2023 to $288 billion as of August, Tether’s USDT continues to hold its position as the largest stablecoin. 

However, the Motley Fool team has identified three emerging contenders that are poised to disrupt the company’s dominance and present significant competition.

Tether commands nearly 60% of the stablecoin market, but it has not been without controversy. In 2021, the Commodity Futures Trading Commission (CFTC) fined Tether $41 million for “misleading claims” regarding its reserves, which were allegedly not fully backed by US dollars. 

Furthermore, Tether’s current reporting practices do not align with the requirements set forth by the recently passed GENIUS Act, which mandates stablecoin issuers to publish monthly disclosures about their reserves. 

Notably, the stablecoin issuer only provides these reports on a quarterly basis, potentially opening the door for competitors to capture some of its market share, at least in the United States.

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Among the most prominent challengers highlighted is USD Coin (USDC), which boasts a market capitalization of approximately $68 billion. Like Tether, USDC is a fiat-backed stablecoin; however, it has not faced any legal scrutiny regarding its reserves. 

The issuer, Circle, has consistently published monthly attestations since USDC’s inception in 2018. The Motley Tool team asserts that this commitment positions USDC as Tether’s primary competitor, especially as regulatory compliance becomes increasingly crucial. 

The competitive landscape is further complicated by regulatory developments in Europe. Under the European Union’s Market in Crypto-Assets Regulation (MiCA), stablecoin issuers must obtain regulatory approval and meet strict reserve requirements. 

Circle has already achieved compliance with both USDC and its Euro stablecoin, EURC, while Tether has opted to withdraw from the European market entirely.

A New Contender With Ties To XRP

Another contender is Dai, now rebranded as USDS, which differentiates itself by adhering to the principles of decentralization. Unlike Tether and USDC, Dai is managed by Sky, previously known as MakerDAO, a decentralized autonomous organization. 

This structure allows anyone holding SKY governance tokens to participate in decision-making processes concerning Dai. Rather than being backed by fiat reserves, Dai is a crypto-backed stablecoin, relying on overcollateralized crypto loans. 

Lastly, Ripple USD (RUSD) enters the fray as a smaller player with a market cap of around $667 million. Despite its size, the Motley Fool asserts that RUSD’s connection to XRP makes it a formidable competitor. 

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Ripple, the company behind XRP, has launched RUSD as part of its payment solutions for financial institutions, focusing on efficient cross-border transactions. 

Additionally, RUSD has received regulatory approval from the New York State Department of Financial Services, which adds a layer of credibility and could help it gain traction in the market.

Despite the potential threat, Tether’s figures far surpass those of these three challengers. This suggests that the firm’s reign in the stablecoin market may continue for some time. One thing is certain, though: stablecoins are making a notable entrance into the broader financial landscape.

Featured image from DALL-E, chart from TradingView.com 

June 2nd, 2025 – Earth, N/A

class=”ql-align-justify”>No Limit Holdings (NLH), an investment firm focused on global blockchain assets, and ClearVue Partners (CVP), a leading consumer & technology growth equity firm today announced the final close of CVP NoLimit Fund II (Fund II) which will invest into native crypto projects in a digital asset industry that they expect will grow to nearly $15 trillion in total market capitalization by 2030.

NLH is led by Gin Chao, an independent Board member of Binance.US and former Strategy Officer of Binance.com, and was founded on the mission to accelerate value creation through blockchain technology globally. The firm launched CVP NoLimit Fund I (Fund I) in 2022, which invested into 40+ projects and has significantly outperformed Bitcoin with top decile DPI (distributed to paid-in capital) and MOIC (multiple on invested capital) metrics to date.  

This performance was achieved through disciplined underwriting into the fast-evolving infrastructure and DeFi landscapes as well as new sectors such as DePIN (decentralized physical infrastructure networks). Fund I led the pre-seed round of Wynd Labs, a core contributor to Grass Protocol, one of the most successful DePIN projects developed to date. Grass allows users to earn rewards by sharing their unused internet bandwidth and verified institutions to access public web data through the network. Fund I also supported new L1s, Sei and Sui, as well as next-generation synthetic stablecoin Ethena.

“NLH backed us when Grass was just an idea. Their conviction and early support helped Grass grow from concept to fueling some of the largest AI data pipelines in the world,” says Andrej Radonjic, Co-founder & CEO of Wynd Labs.

NLH expects continued growth in the blockchain industry over the next five years, with total market capitalization approaching $15 trillion by 2030 as the regulatory environment stabilizes and institutional adoption accelerates. While leading Binance Labs in early 2019, Chao predicted Bitcoin’s 2021 cycle high of $50-100k after Bitcoin had declined 75% from $20k to $5k. When Bitcoin was under $20k after the FTX meltdown in late 2022, he called a Bitcoin high of around $150k for 2025. NLH anticipates a Bitcoin high of $400-500k in the upcoming cycle, gaining further market share against gold as both a hedge against sovereign risk and a more efficient store of value.

“With increasing institutional adoption, our conviction in this industry is stronger than ever,” says Chao. “We’re not just investing in technical protocols – we’re backing systems that will underpin the next era of global finance, governance, authentication and transactions.”

Fund II is positioned to lead early-stage investments into the latest generation of mission-first founders in the upcoming cycle. Fund I was an early investor into the cross-section of blockchain and AI, which continues to be one of several core pillars for Fund II. The team also sees significant opportunities emerging in B2C applications and recently launched its inaugural business plan competition in conjunction with leading FMCG (fast-moving consumer goods) executives to develop blockchain solutions for global enterprises serving billions of consumers.

“The CVP NoLimit funds have built an institutional franchise in three short years. We are excited about the partnerships with NLH, investors and industry leaders to drive use cases and adoption for the new economy,” says Harry Hui, co-founder of CVP.

Fund II exceeded its $100 million target within 9 months and has made investments into portfolio projects including Altius, Aro Network, Blum, Hyperlend, and ICN.

About No Limit Holdings

No Limit Holdings (www.nolimitholdings.xyz), an investment firm focused on global blockchain assets, launched CVP NoLimit Fund I in 2022 and CVP NoLimit Fund II in 2024. The firm manages over $300 million of AUM and over 50 portfolio projects. For inquiries, please contact anatoly@cvpnlh.com or ms@cvpnlh.com. For latest news, please follow our official X account @nolimithodl.

About ClearVue Partners

ClearVue Partners (www.cvpcap.com), a leading consumer & technology growth equity firm, was founded in 2012 by Harry Hui and William Chen. The firm manages over $1 billion of AUM across three funds, with over 40 portfolio companies. For inquiries, please contact hh@cvpnlh.com or will@cvpnlh.com.

PICTURE Left to right: Will Chen, Jeremy Huff, Malcolm Shu, Harry Hui, Gin Chao, Anatoly Kondiyakov

Contact

Founding Partner
Gin Chao
No Limit Holdings
gin@cvpnlh.com

Dogecoin has been trading in a tight range lately, with its price movement increasingly narrowing over the past few days between $0.15 and $0.16. This increasingly narrowing range comes off a wider downside consolidation move since the beginning of April, which has led to the creation of a triangle pattern on the 4-hour candlestick timeframe chart. 

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As it stands, Dogecoin is trying to recover from earlier losses in April, and a recent higher low points to growing bullish activity that could send it pushing above the upper trendline of the triangle pattern in the coming week.

Analyst Notes Classic Market Indecision In Dogecoin Structure

Crypto analyst Trader Tardigrade recently brought attention to Dogecoin’s current price structure in a post shared on the social media platform X, noting a converging triangle formation that reflects growing indecision in the market.

According to his analysis, Dogecoin’s price action has transitioned from a clear downtrend (visible throughout late March and extending into the first week of April) into a state of consolidation that has persisted over the past two weeks.

Looking at the resulting triangle formation on the 4-hour candlestick timeframe chart, it is easy to infer that both buyers and sellers are exercising caution. Buyers are reluctant to enter at higher levels, while sellers seem unwilling to push prices lower, creating a narrowing band of price action since April 15. The result is a compression of volatility, which could break out in either direction.

Image From X: Trader Tardigrade

What Comes After The Indecision Phase?

As shown in the Dogecoin price chart above, the memecoin is now approaching the tip of the triangle. In this particular case, the structure leans toward a bullish breakout, with market behavior showing signs of upward pressure building beneath the surface by a 2.77% increase in trading volume in the past 24 hours.

Trader Tardigrade projected an uptrend that cancels out the downtrend in late March, following the classic pattern of a downtrend, indecision, and a resulting uptrend. 

A strong bullish candle that closes above the upper trendline of the triangle is important to validate the predicted uptrend. Trader Tardigrade’s projection shows that if such a move occurs, Dogecoin could reclaim the $0.20 level within a relatively short time frame before the end of the month. 

Dogecoin opened the month of April at $0.166. As such, a clean upside breakout followed by a sustained close above $0.20 would mark a positive finish for Dogecoin in April.

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Such a positive monthly close would likely influence market sentiment heading into May and possibly invite increased buying activity. It would also help confirm that the recent period of bearishness is over and help reestablish a bullish structure. 

At the time of writing, Dogecoin was trading at $0.1573

Featured image from 21Shares, chart from TradingView