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This wouldn't be the first case that Bitcoin's market volume has been artificially inflated (i.e. Mt. Gox), but doesn't Tether only have a $700MM market cap and
by QML 9y ago
This wouldn't be the first case that Bitcoin's market volume has been artificially inflated (i.e. Mt. Gox), but doesn't Tether only have a $700MM market cap and $900MM 24H volume? How is that able to affect Bitcoin with its $175BN market cap and $8BN 24H volume?
Sidenote: With all this talk about cryptocurrencies, I find it strange that Tether is the only coin whose volume exceeds its market cap; strange in the way that cryptocurrencies should be having way higher velocity rates IMO.
- deorder 9y agoAccording to (and many others): https://mobile.twitter.com/sLabunsky/status/935641867097649152 https://mobile.twitter.com/sLabunsky/status/9356418670976491... "To raise market cap. by 5B, you basically need to raise price by ~3% (%_delta = [(cap_delta / btc_count + current_price) / current_price - 1] * 100%). The total usd amount to change price by desired delta is pretty small, for BTC it is usually around 8M for 1% (easy to check)"