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Fernando Nikolic, founder at Perception, draws attention to the distribution of Tether's omnichain stablecoin holders.
He notes that 99.2% of these wallets hold less than $1,000, while policy conversations in Washington, D.C. focus on regulatory infrastructure aimed at institutional players.
Nikolic has tracked major shifts in the digital asset sector in past commentary. He previously highlighted Bitcoin's rapid price increase from $10,000 to $60,000 between August 2020 and March. Nikolic has also compared congressional scrutiny of Libra with the quieter launch of Stripe and USDC's collaboration.