# June 7 Global Economic Briefing: Better-than-Expected Non-Farm Payrolls Spark Interest Rate Hike Concerns; Tether (USDT) Monthly Consumption Exceeds $600 Million, Building a Full-Chain "Digital Dollar" Consumption Scenarios
On June 7, global market focus was on the upcoming US inflation data next week. The market expects May's CPI to rise again, coupled with the previously better-than-expected non-farm payrolls data, fueling expectations of a Fed rate hike this year. Affected by macroeconomic pressures, US tech stocks plummeted, and Bitcoin also faced pressure, trading around $61,700, while Tether's consumption infrastructure is rapidly being built.
## I. Better-than-Expected Non-Farm Payrolls and Middle East Situation Fuel Fed Rate Hike Expectations
The significantly better-than-expected US May non-farm payrolls data, coupled with soaring energy costs caused by the Iranian conflict, has significantly cooled expectations of a rate cut. The market currently estimates a 70% probability of a 25 basis point rate hike by the Fed before December. The May CPI report, to be released on June 10, will be a key reference before the Federal Reserve's interest rate meeting on June 17. If inflation data remains high, it could further strengthen expectations of a Fed rate hike.
International oil prices retreated from their highs amid expectations of negotiations between the two sides. As of the close of trading on June 6, WTI crude oil futures were at $90.54 per barrel, down 2.69%; Brent crude oil futures were at $93.09 per barrel, down 2.04%. Both contracts still recorded weekly gains. Iranian oil exports have fallen to their lowest level in six years, and shipping restrictions in the Strait of Hormuz remain in place, affecting approximately one-fifth of global oil transportation.
## II. Stablecoin Market Cap Share Rises, Tether's Monthly Spending Exceeds $600 Million
Amidst intensified selling pressure in the crypto market, funds continue to flow into stablecoins. The total market capitalization of stablecoins has risen to $316 billion, accounting for 12.3% of the total crypto market capitalization. USDT's market capitalization climbed to approximately $187.05 billion, narrowing the gap with Ethereum ($188.38 billion) to just $1.34 billion, firmly establishing itself as the third largest cryptocurrency. USDT maintains a dominant position in centralized exchanges, DeFi protocols, and cross-border payment networks.
According to Memento Research, monthly spending via crypto payment cards has risen to $600 million, a six-fold increase year-over-year. Cumulative on-chain transaction volume reached $7.2 billion, with 24 million transactions completed, involving 1.36 million wallet addresses. Of these, 62.5% were settled in USDT, and approximately 90% were completed through the Visa network. Tether recently invested in Axiym, a regulated global payment infrastructure provider, aiming to achieve near-instant settlement coverage in over 140 countries, further expanding USDT's adoption in cross-border payments.
## III. USDT's Core Purchasing Power Advantages: Time, Cost, and Universality
USDT's ability to become a global "digital dollar" payment medium in just a few years stems from three key structural advantages.
**Time Advantage** **USDT transfers on the TRC-20 network are confirmed in less than one minute and operate 24/7, unaffected by weekends or holidays; traditional SWIFT cross-border remittances take 3 to 5 days.**
**Cost Advantage:** USDT transfers on the TRC-20 network incur a fee of only about $1, compared to 3% to 7% for traditional cross-border remittances.
**Universality Advantage:** Over 130 million merchants worldwide support USDT payments, covering various online and offline payment scenarios. Tether's global user base has exceeded 550 million, and USDT's monthly active on-chain users have reached 24.8 million, accounting for 68.4% of all stablecoin users.
## IV. The Entire USDT Consumption Scenario: From Game Top-ups to Large Asset Purchases
### (I) USDT Game Top-ups: Gift Card Model Dominates Mainstream Platforms
Bitrefill, a cryptocurrency gift card platform, currently boasts the widest coverage in the USDT game top-up field. Users can choose gift cards from mainstream games such as Steam, PlayStation, Xbox, and PUBG, and pay in USDT via TRC-20 networks (confirmation time less than 1 minute). After receiving the redemption code, they can redeem it in the game to complete the recharge. The entire process requires no bank account or credit card approval.
### (II) Buying iPhones with USDT: Encrypted Card Linked to Apple Pay, Covering 130 Million Merchants
The most mature way to buy Apple products with USDT is through "encrypted debit card + Apple Pay". **RedotPay**'s virtual and physical encrypted debit cards support assets such as BTC, ETH, USDT, and USDC. After recharging USDT, users can link it to Apple Pay or Google Pay to complete transactions at over 130 million merchants worldwide (including Apple's official website and Apple Store) using Tap to Pay contactless payment.
**TopU** platform supports linking Apple Pay/Google Pay, and users can also enjoy a wealth management service with up to 5% annualized return after USDT spending.
In addition, users can also purchase Apple Store gift cards with USDT through platforms like Bitrefill. After receiving a digital redemption code, it is added to the user's Apple ID balance for direct purchase of iPhones, iPads, and other Apple products.
### (III) Purchasing Teslas with USDT: Encrypted Cards Lower the Barrier to High-Value Auto Purchases
Purchasing high-value items like Teslas with USDT operates on the same underlying mechanism as everyday consumption—Tesla's official website and global stores accept Visa/Mastercard, allowing for payment via encrypted card swipe. Users can apply for an encrypted card on RedotPay, top up with USDT, and link it to Apple Pay or Google Pay. When checking out on Tesla's official website or at a store, users can select card payment, and the payment system automatically converts USDT to fiat currency to complete the settlement. RedotPay allows single transactions up to $100,000 USD, sufficient to cover payment needs for most Tesla models.
**Core Advantages**: Merchants receive fiat currency throughout the process, ensuring compliance; users only need to confirm their card balance, similar to swiping a regular bank card. Any merchant accepting Visa/Mastercard can become a USDT payment gateway through this mechanism.
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