Incumbents Defend Share

USDG faces the classic stablecoin cold-start problem: traders prefer the deepest, most widely accepted assets. Circle, Tether, Coinbase-linked USDC distribution, and existing DeFi integrations limit Paxos’s ability to quickly displace incumbent stablecoins.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.