Tether's Mysterious Crash: Is the Money Really There?
Tether is the most famous stablecoin in the cryptocurrency market.
This token is designed to be pegged to the USD. The theory behind it is to provide a medium of exchange that lacks the volatility that is associated with cryptocurrency. People trying to conduct business will not use something that moves 5% in either direction in a morning.
Tether, being pegged to the USD removed the volatility. The challenge with this is that the price of the token keeps dropping. Many are starting to question whether the money was actually behind the currency to begin with.
Click on image to read full article.
Mysterious? To a unsophisticated market maybe... Keep fooling youselves.Ya Ya everyhing is square.
I'm very doubtful, but hopefully tether holds up long enough for alternatives come out
Posted using Partiko Android
According to CoinMarketCap Tether is #8 in volume currently. at $2B, it is really only a sliver of a current $210 Billion total market cap in crypto. So can anyone tell me what that really means? Your expertise and comments to my post are highly welcomed. ![Screen Shot 2018-10-22 at 7.32.03 PM.png] (
)
Apparently, I should read the full article before i make a comment... Now that I've read it, I have mixed feelings about whether or not a user can trust Tether... My guess is: If the company is hopping from bank to bank, stay away from it until they prove actual stability.
You got a 57.66% upvote from @emperorofnaps courtesy of @steemium!
Want to promote your posts too? Send 0.05+ SBD or STEEM to @emperorofnaps to receive a share of a full upvote every 2.4 hours...Then go relax and take a nap!
You got a 36.55% upvote from @booster courtesy of @steemium!
NEW FEATURE:
You can earn a passive income from our service by delegating your stake in SteemPower to @booster. We'll be sharing 100% Liquid tokens automatically between all our delegators every time a wallet has accumulated 1K STEEM or SBD.
Quick Delegation: 1000| 2500 | 5000 | 10000 | 20000 | 50000
You got a 61.40% upvote from @upmewhale courtesy of @steemium!
Earn 100% earning payout by delegating SP to @upmewhale. Visit http://www.upmewhale.com for details!
You got a 59.28% upvote from @oceanwhale courtesy of @steemium! Earn 100% earning payout by delegating SP to @oceanwhale. Visit www.OceanWhaleBot.com for details!