Paolo Ardoino explained that the most interesting part of Tether growth is that some of it is without marketing. He also pointed out that Tether is purely community and use driven.
Some users feel that it is important to have a newly paved, gas-free highway in order to move part of the new USDT further quickly.
The very important and interesting part of tethered growth is that some of its growth occurs without USD support. There are people who feel that it is all about printing and the market is about to discover it.
The reality is that if banks didn’t allow fiat accounts for crypto and instant money transfers, the market was innovative. This product is known as a tether. It seems that a lot of people, banks, governments, and other organizations are very jealous of Tether’s success. However, without market demand, it is not possible to succeed.
Sydney Ifergan, the crypto expert, commented on Tether: “If Tether (USDT) falls, the entire market will go under with the belief of its hardcore users. Are you wondering if it is so? “
For those new to Tether or USDT, it was mainly designed to add stability to the cryptocurrency market. It is pegged to the US dollar, with one USDT representing one USD. The stablecoin is issued by Tether, the Hong Kong-based company Tether, which claims to hold reserves equal to the number of USDT in circulation.
Tether (USDT) backing and pumps
It’s important to remember that there are several scandalous legal disputes going on between Tether, Bitfinex, and U.S. regulators. The consequent complaint is that Tether is no longer supported by the USD, but that they have tacitly changed the peg. Tether now has baskets of assets like cash equivalents and various other types of assets like third party loans.
It should be noted that tether is made up of almost anything from USDT to dollars or other types of assets. The originally announced claim to the type of tether and the peg factor simply does not exist.
However, there’s no denying that Tether is becoming a digital version of Fiat, with a lot of printing going on without a clue about the backup. Despite the negative market impression and criticism, the USDT market capitalization is rising steadily. The daily trading volume is also a staggering $ 1 trillion. There is a lot of pumping and it continues.