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Tether funds the buy orders and bids. Without them the market price falls
by space_rock 6y ago
Tether funds the buy orders and bids. Without them the market price falls
- TekMol 6y agoHow so? The Bitcoin/USD exchange ratio is from orders that trade Bitcoin for USD. How does Tether have an impact on this?
- space_rock 6y agoTether is a USD token used by many exchanges and accounts for much of the volume
- LMYahooTFY 6y agoCitation is definitely needed here.
- anonymoushn 6y agoFor example Binance and gate.io USD pairs are actually USDT pairs.
- space_rock 6y agoWell you could Google it. The amount of tether in circulation is within the billions. Thought it was common knowledge
- space_rock 6y agoFor people not aware of Bitcoin trading $136,273,340,188.23 Tether 24hr volume Volume on Chinese exchanges is unreliable But the trading volume is obviously significant $33,139,949,239.15 in tether tokens https://coinmarketcap.com/currencies/tether/ https://coinmarketcap.com/currencies/tether/
- TekMol 6y agoSo you claim that Tether Limited is not buying Dollars when they issue Tether but rather Bitcoin? Why would they do it?
- rkagerer 6y agoThey also make up a portion of the sell orders and asks. Anyone know the proportion of buy vs. sell pressure accountable to it and how that's trended over the last few weeks/years?