Tether Net Issuance Has Stalled While Crypto Market Stagnates

Tether Net Issuance Has Stalled While Crypto Market Stagnates
фото показано с : beincrypto.com

2019-11-20 17:56

The number of issued USDT by the Tether Treasury exploded in the first half of 2019. However, it has since stalled alongside Bitcoin’s own price.

There was much buzz earlier this year about Tether (USDT) issuances and Bitcoin’s rising price. If you recall, Bitcoin hit $13,000 in late June but has since tumbled quite a ways down. Interestingly, this tumble downwards seems to coincide with the stagnation of USDT issuances.

Tether Issuances Stagnate

The relationship between USDT and Bitcoin has been established for some time. BeInCrypto previously reported that Tether issuances seemed to correlate with around 70% of Bitcoin rallies. It is a shocking statistic that forces us to consider the impact of Tether on Bitcoin’s price. Given that Tether has not seen any major increase in issuances since the late-June rally, is the situation really as clear-cut as it seems?

Some have taken this stagnating issuance rate as an indication that the ‘game is up’ for USDT. With trading volume on Bitfinex dwindling, the Tether Treasury seems unwilling to issue any more USDT. One also cannot ignore the fact that Tether’s stagnation in its issuances has correlated strongly with a relative choppiness in Bitcoin’s price movements.

There's hardly any net issuance of USDT. Tether has nothing left to monetize. That's why they want to start issuing GLDT backed by bars of tungsten. pic.twitter.com/pUICB4WXMA

— Silver Watchdog (@Silver_Watchdog) November 20, 2019

Conversely, not all of Bitcoin’s rallies can be explained by Tether. After all, Bitcoin’s mega double-digit rally in late October saw the leading cryptocurrency rise some 30% on the daily — and that was despite there being no Tether issuances whatsoever. If the largest single-day rally in years for Bitcoin was not provoked by Tether, it’s a good sign for long-term fundamentals.

Bitcoin Continues to Hold Its Own

So, should we be concerned that the Tether Treasury has seemingly stopped issuing USDT? Considering that Bitcoin has been holding its own regardless, and still experiencing wild price swings, it seems that Tether doesn’t pull all the strings. Tether issuances or not, Bitcoin has remained in the $8,000 zone for some time. It seems to be operating just fine independently of new USDT issuances.

Perhaps we can expect an uptick in USDT again once the trading volume on cryptocurrency exchanges grows. However, in order for that to happen, we need some bullish momentum which may take some time.

Images courtesy of Twitter.

Did you know you can trade sign-up to trade Bitcoin and many leading altcoins with a multiplier of up to 100x on a safe and secure exchange with the lowest fees — with only an email address? Well, now you do! Click here to get started on StormGain!

The post Tether Net Issuance Has Stalled While Crypto Market Stagnates appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Tether (USDT) на Currencies.ru

$ 1.0002 (+0.01%)
Объем 24H $61.194b
Изменеия 24h: 0.01 %, 7d: -0.04 %
Cегодня L: $1 - H: $1.0008
Капитализация $111.229b Rank 3
Цена в час новости $ 0.9974 (0.28%)

tether bitcoin stalled usdt price stagnates market

Источник: beincrypto.com

tether bitcoin → Результатов: 126


Фото:

Tether plans $500M investment into Bitcoin mining operations

In a significant diversification of its core business of managing the USDT stablecoin, Tether Holdings Ltd. is pivoting a portion of its operations toward Bitcoin (BTC) mining. As reported by Bloomberg, Tether plans to invest approximately half a billion dollars over the next six months, a move that could significantly alter the dynamics of the […] The post Tether plans $500M investment into Bitcoin mining operations appeared first on CryptoSlate.

2023-11-16 19:40


Фото:

‘Really Un-Tethered?’ Bitcoin Price Manipulation Returns With New Research

Days after Tether (USDT) gained a higher market cap than Monero and Dash, new research has reignited suspicions that the altcoin “manipulated” Bitcoin prices.   Cryptocurrency Highs Fuelled By Tether The product of two researchers at the University of Texas, the paper — titled Is Bitcoin Really Un-Tethered? — claims to have identified potential evidence of direct price manipulation since November 2017.

2018-6-13 20:00


This paper investigates whether Tether, a digital currency pegged to U.S. dollars, influences Bitcoin and other cryptocurrency prices during the recent boom. Using algorithms to analyze the blockchain data, we find that purchases with Tether

Using algorithms to analyze the blockchain data, we find that purchases with Tether are timed following market downturns and result in sizable increases in Bitcoin prices. Less than 1% of hours with such heavy Tether transactions are associated with 50% of the meteoric rise in Bitcoin and 64% of other top cryptocurrencies. The flow clusters

2018-6-13 19:39


Фото:

Research shows Bitcoin’s price increased due to tether manipulation

The U.S. dollar-pegged tether has been used to support bitcoin’s price during market downturns, a new study published by University of Texas at Austin professors. The published study states that the researchers used “algorithms to analyze the blockchain data, we find that purchases with tether are timed following market downturns and result in sizable increases in bitcoin prices.

2018-6-13 19:31


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru