Tether (USDT), a US dollar pegged cryptoasset, just replaced Tron (TRX ) for the number ten place in the cryptocurrency market in terms of total market cap. This shift's primary cause is Tether's use in exchanges as a reserve asset for when a user of the exchange wants to move their funds out of volatile cryptoassets temporarily. With the recent price correction, many investors have been moving out of these volatile investments and into Tether.

Because Tether is pegged to the US dollar, its price is stable, but with a market cap that can change. Currently, Tether's market cap is 2.7 billion USD, signaling that 2.7 billion USD has been exchanged for Tether to be traded back later for more risky cryptoassets.

Tether claims to be a full reserve peg, meaning that the Tether company holds the entire value of all Tether. This means that a single company has control of over 2.7 billion USD worth of user's funds. Cryptocurrency's primary original goal was to eliminate centralized banks, but Tether is becoming an equivalent of one in the cryptocurrency space. Any corruption in the Tether company could lead to cryptocurrency investors losing a massive sum of money.

Thanks for reading this post! This has been my first post in over a month now, so you may be wondering why I left.

Steemit takes up a lot of time, and so I stopped posting as I became busy on other things. But that is not the main reason why I stopped. Before I left, I had found a massive project where hundreds of spam accounts were following me, along with anyone else who posted. These were trying to garner followers from newbies, and it was working. I now had over 150 extra followers (and looks like I still do), all following me as soon as I posted. At first, I thought these followers were genuinely liking my posts and following me. But after a bit of investigation, I uncovered that all these accounts were spammers. After doing so much work, and so little reward, that finally drove me away from Steem.

I have now returned, and we'll see what's coming next. I'm definitely going to be posting less (writing a bit more per article though), and for the next few weeks will stop posting altogether again. I may leave Steemit for Medium in the future, because I just don't think Steemit is ready for someone like me. I want to blog about cryptoeconomics, incentives, and technology, but it is very difficult for my content to be recognized, and I don't think it will ever reach a big enough audience on the current Steem community to be truly worth the effort.

Please leave a reply; I'm not sure what to do in this situation, and need some advice.