Tether supply surges to $15 billion but it could still be a house of cards
Tether is a cryptocurrency token that claims be backed by 1 dollar for each token issued. Tether may be explained as a hybrid between a cryptocurrency and fiat money, as its “tethered” to the value of fiat currencies. Tether usually uses a USDT currency, which is supposed to be worth exactly what USD is worth at the same period of time.
Tether can’t be an investment because the US dollar’s price is decreasing over time due to inflation, but neither it can be a speculative interest, because it most certainly would be around the same price for a long time.
Still, there are a few things about Tether that make it very suitable for crypto investors to use. Tether transactions mostly take a few minutes to complete, Tether charges no transaction fees for moving funds between Tether wallets, and it is a stable and fast resource to cash out and cash in when there is a difficult situation in the market.
- Bitcoin will continue appreciating, although at a slower pace than in the past, Bloomberg analyst explains
According to senior commodity strategist at Bloomberrg Mike McGlone, Bitcoin’s limited supply and increasing adoption will lead to steady, although gradual, appreciation.11158
The rapidly growing market cap of Binance’s BUSD stablecoin shows the exchange is taking serious steps to become a major DeFi contender.4067
The recent Tether burn seems to have involved a lot of trust between Binance and its counterparties.12389
But XRP isn’t competing with Tether.12031
Stablecoin supply ratio shows much more buying power among stablecoin holders currently, with Bitcoin trailing at $11,400.9879
Average daily transfer value for Tether exceeded that for Bitcoin in August.5917
Bitcoin’s macro bullish trend remains intact even after data show Chinese investors moved $50 billion in crypto to overseas addresses in the past 12 months.9649
The East Asia crypto market has reacted fast to news of Beijing’s national digital currency and regional economic tumult.9308
Data from the crypto giant suggests the most popular stablecoin holds major implications for the future of Bitcoin.6756
The supply of Tether has surpassed $12 billion and this will likely only make traders more bullish on the price of Bitcoin and alternative cryptocurrencies.8585
Peter Brandt didn't mince his words when describing the controversial stablecoin.4198
The new World Stablecoin Association hopes to create a united front for the sector to tackle regulatory concerns and drive collaboration.14240
The on-chain activity for market-leading stablecoins Tether, DAI and USDC exploded as Bitcoin breached the $11,000 plateau.9638
As Bitcoin price surged above $10K, USDT exchange inflows reached an 8-month high.6462