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Approximately half a billion USD are traded for USDT every single week though... and have been for a number of years now: https://cryptowat.ch/charts/KRAKEN:USD
by johnnyApplePRNG 4y ago
Approximately half a billion USD are traded for USDT every single week though... and have been for a number of years now: https://cryptowat.ch/charts/KRAKEN:USDT-USD?period=1w_Monday https://cryptowat.ch/charts/KRAKEN:USDT-USD?period=1w_Monday
If there was a discrepancy between the amount of USDT and USD controlled by Tether, surely that peg would be far away from $1 USD/$1 USDT right now no?
It has slipped during periods of mass hysteria in the crypto markets a few times in the last few years but has always reverted to $1 within a few days tops.
- gizmo686 4y ago> If there was a discrepancy between the amount of USDT and USD controlled by Tether, surely that peg would be far away from $1 USD/$1 USDT right now no? Why would you think that? As long as Teather has >0 USD they can honor redemptions at face value. When Teather has 0 USD, their ability to redeem also drops to 0, and the peg collapses.
- mirntyfirty 4y agoI’d replace mass hysteria with moments of clarity. Interest rates rising will motivate investors to purchase more bonds and limit the speculative tendencies that propped up the crypto marketplace.