Tether tends to get printed before crypto prices stabilize or go up. The simplest reason for this is because Tether acts as a dollar substitute, especially on exchanges that don’t use dollars, and prices go up when people buy crypto… especially with dollars / dollar substitutes.
Stable coins are cryptos meant to hold a stable value. They are generally pegged to $1 USD.
For example, Tether (USDT) and USDC are centralized cryptos whose value roughly mirrors the price of a dollar, while Dai is an attempt at a decentralized stable coin.
Some stable coins are backed by dollars like USDT and USDC, other stable coins use different mechanics to keep their peg (for example Dai is backed by crypto assets). Each stable coin is its own beast.
For exchanges that don’t deal in dollars, stable coins provide much needed liquidity and allow traders to go to a stable asset that mimics cash.
Details aside, suffice to say, in the volatile world of crypto, its nice to have some stability.
A 66 page study is trying to assert that Bitcoin’s 2017 rise was the result of price manipulation using Tether… but the report is narrow and likely not telling the full story.
Bitfinex is a leading and important cryptocurrency exchange that offers the major cryptocurrencies for trade and is a favorite spot for margin traders.
“Stable coin” is a term used in cryptocurrency to describe cryptocurrencies meant to hold stable values. For example, Tether (USDT) is a blockchain based asset meant to trade for $1 USD. It is a “price-stable cryptocurrency.”
Bittrex’s CEO confirmed that after some updates Bittrex will soon reopen signups to new users and allow USD trading.
A lot of conspiracy theories were going around about Tether. Tether addressed these theories and ensured everyone that they Tethers are backed 1:1 by dollars and they have been audited.
Tether (USDT) is a stable coin meant to trade for $1. The idea being that dollars are held in a 1:1 ratio by the company Tether. We discuss the FUD and conspiracy theories surrounding Tether.
Sometimes the cryptocurrency market corrects by 25% or more. Dec. 21 – 22, was one such time. From a positive frame, crypto just went on sale for the Holidays.
Tehter was reportedly hacked on Nov. 20th. This caused a quick sell-off of all things crypto. However, most coins quickly recovered.
Bittrex is one of the most popular crypto exchanges for trading altcoins in the U.S.. Its complexity can be intimidating, but the learning curve is worth it.