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Tether itself also had a dry run of the Tether collapse. It seems to mostly be holding steadyish in the past few days, but the dip down to $0.95 is a giant scre
by NelsonMinar 4y ago
Tether itself also had a dry run of the Tether collapse. It seems to mostly be holding steadyish in the past few days, but the dip down to $0.95 is a giant screaming alarm. It's still only at $0.9990; before the crisis last week it was pretty much always at $0.9998 or above.
- id 4y agoSimilar or worse drops happened in 2016, 2017, 2018, and 2020. In other words, business as usual for Tether.
- georgeecollins 4y agoYes, and like $50b-$100b worth of trades each day are in USDT, with a market cap of $73b. That's according to coinbase, I can't verify it. When I look at people talking about trading crypto currency on reddit they just don't seem that sophisticated. I am not bashing on crypto, but this seems like a systemic risk people are oblivious to. It won't wipe everything out, but it can't be good for the price.