Is a Tether (USDT) Implosion Imminent?
If you follow crypto you have to be asking yourself, what’s going on with Tether (USDT) today?
The stablecoin, which should always be trading around $1, currently sits at $0.975, and briefly dropped below $0.95.
According to some reports it got as low as $0.93 on Kraken.
Tether really took off in 2017, starting the year with a market cap of about $10 million and finishing the year with a market cap of $1.3 billion.
And it’s kept growing since then, reaching a market cap of nearly $3 billion.
It does say one thing, there’s an obvious need for a stablecoin. But is USDT the right one?
Tether has long been suspected of being a scam.
And some believe Tether manipulation led to bitcoin’s rally at the end of last year.
It seems they can “print” Tether at will.
That would be fine if you had confidence it was fully backed. But it doesn’t appear Tether has even been subjected to a real audit.
Where there’s smoke there’s fire. Be careful with Tether (USDT)!
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Thanks for the awareness, i have never planned to buy this kind of coin. Bitcoin is only the true king others aren't valuable like Bitcoin.
You wouldn't even make money with tether :P
Absolutely right.
I'm with you. I've never owned a tether.
I got an alert on my blockfolio that Tether had dropped below 0.90 on Kraken. Crazy times.
The divergence in the BTC pricing was amazing to watch and it played havok with many charts. I did notice that Poloniex is quoting USDC so perhaps we are going to see a rotation into it.
Seems that Tether would be safer and still a valid business model if only they would audit properly. Maybe the door is ajar for a Tether clone.....
Absolutely. DAI is interesting.
I think if Tether could get an audit they would but no one will touch them. I don't see how it ends well.
I never used and never intent in the near future!
Same here.
Plus, there are more, better choices now anyways.
It's probably because people took money from tether to put into Bitcoin last night causing the rise of 6650.
smart money ;-p
I am honestly so confused by the point of tether...considering there are so many other apps and companies that will give you the "same thing" that just hold dollars...
An audit by a private entity doesn't mean diddly squat !!
yea they haven't proved a thing
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