Tether Continues To Dominate The Market
Rumors about the fate of Tether continue to spread in the market, and some analysts have noted that Monday’s spike in prices of other cryptocurrencies, including the top three – Bitcoin, Ethereum, and Ripple-could mean that traders are coming out of the controversial stablecoin and investing their money in others.
Stablecoin, which is closely linked to the Bitfinex cryptocurrency exchange, is mired in controversy as the firm behind the Tether token has yet to disclose the audited results of its foreign exchange reserves.
There is also a claim that the price of Bitcoin was artificially supported in 2017 by trading in Tether on the Bitfinex exchange.
Markets have long been buried such concerns, and USDT a long time used the cost equivalent of dollar.
New concerns arose late last week after Bitfinex announced the suspension of dollar or Fiat deposits for certain groups of users due to processing difficulties. The exchange hopes to launch an improved Deposit acceptance system by October 16.
Earlier last week, Bitfinex also rejected rumors of an insolvency exchange.