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Author Topic: Tether's expansion: a good signal for the uptrend?  (Read 1464 times)

Offline KryptoBull

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Tether's expansion: a good signal for the uptrend?
« on: April 02, 2024, 03:23:21 AM »
Currently, stablecoins have become an important part of the crypto market thanks to their role in creating high liquidity for the market and becoming a safe haven for investors' assets when the market fluctuates greatly. We have many stablecoin issuers, of which Tether is the largest with USDT cap reaching 105B USD, accounting for 69% of the entire stablecoin market [1].

Tether has had many legal problems in the past [2, 3], but it still exists today and has become a giant that plays an extremely important role in the development of the crypto market. USDT has been integrated on 16 major blockchain networks [4]. Not only that, Tether is also the 16th largest holder of US Treasury bonds [5], and also invests in mining [6] and accumulates BTC. Currently, Tether is holding about 75K BTC, worth about 5B USD [7].

If in 2017, someone had said that Tether would still exist in 2024 and become the largest stablecoin issuer in the crypto market, I wouldn't have believed it either, but that has become a reality. The growth of USDT's market cap has made many people suspicious and worried about the negative effects that the crypto market will face if Tether does not have enough 1:1 collateral for all of the USDT circulating on the market.

However, when USDT is continuously minted, we can see that money is flowing into the market from outside, and that USDT is often used to buy and accumulate crypto, which increases buying pressure, helps the token price increase, and creates an uptrend in the market. In other words, as long as Tether continues to mint USDT, I am confident that the market is still in an uptrend.

I am still holding USDT in Binance's Simple Earn while DCA BTC. USDT also helps me avoid the depreciation of the local currency against the USD. I really hope that Tether will not have any legal problems, at least until I take profit and withdraw all USDT to cash.

I would like to know your views on Tether:
  • Is USDT safer than other stablecoins in the market?
  • Are Tether and USDT really important for the development of the crypto market?
  • Could Tether collapse in the future?

References:
[1] DefiLlama: Stablecoin Overview
[2] Cryptocurrency firms Tether and Bitfinex agree to pay $18.5 million fine to end New York probe
[3] CFTC Fines Tether and Bitfinex $42.5M for ‘Untrue or Misleading’ Claims
[4] Tether Token (USDT) to Launch on Celo
[5] Tether: the Q4 2023 report shows stellar profits
[6] Tether plans major expansion into BTC mining with $500M investment: Report
[7] Tether becomes seventh largest Bitcoin holder with recent $618 million purchase

Note:
  • My opinion has been presented in a topic, on BitcoinTalk forum.
  • This topic on AltcoinsTalks forum has included a minor change in the way my opinion is presented.
  • This statement is to avoid accusations of plagiarism.

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Tether's expansion: a good signal for the uptrend?
« on: April 02, 2024, 03:23:21 AM »

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Offline Wiseman

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Re: Tether's expansion: a good signal for the uptrend?
« Reply #1 on: April 02, 2024, 08:21:22 AM »
  • Is USDT safer than other stablecoins in the market?
  • Are Tether and USDT really important for the development of the crypto market?
  • Could Tether collapse in the future?

I’m not sure that any cryptocurrency or anything else that has a financial component can be considered safe; only storing money in real estate that is insured can be safe.

What can be said about the development of USDT is that in fact you can do without it, but trading without a stable asset like USDT is very problematic.

Tether and USDT can, of course, collapse, but I don’t think anyone can do that)) there’s a lot of money there, a lot of people, it’s very unsafe, I’m sure it won’t collapse.
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Offline MrSpasybo

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Re: Tether's expansion: a good signal for the uptrend?
« Reply #2 on: April 02, 2024, 11:06:35 PM »
However, when USDT is continuously minted, we can see that money is flowing into the market from outside, and that USDT is often used to buy and accumulate crypto, which increases buying pressure, helps the token price increase, and creates an uptrend in the market. In other words, as long as Tether continues to mint USDT, I am confident that the market is still in an uptrend.

I would like to know your views on Tether:
  • Is USDT safer than other stablecoins in the market?
  • Are Tether and USDT really important for the development of the crypto market?
  • Could Tether collapse in the future?
Tether has become a giant in this market and I really believe that according to market cap ranking, Tether's role in the crypto market is only behind BTC and ETH. Each negative event that happens to Tether can threaten the overall development of the crypto market, not as simple as the collapse of UST in 2022. I also hope that Tether will continue to exist healthy, at least until the end of the bullrun so that if it does collapse, it will also be a legitimate news for the market decline to enter the crypto winter.

1. Currently, Tether has completed the audit requirements so it is more reliable, we also know that Tether owns US government bonds and reserves many other assets such as gold and BTC. At least USDT has not been de-pegged like USDC earlier this year.

2. USDT and Tether are really important to the crypto market: when they exist, they promote the development of the market, when they have problems, the market also goes into crisis. They can be seen as a weakness in the stability of the market when the market is dependent on the health of Tether.

3. The future is something we don't know. Maybe CBDC will rise and make Tether lose its current position, or some regulation can cause Tether trouble, or Tether's reserve evidence will be investigated and concluded to be unreliable... Every company has its own time of existence, I just hope Tether can exist until the crypto market develops to the point where it is less dependent on it.
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Offline KryptoBull

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Re: Tether's expansion: a good signal for the uptrend?
« Reply #3 on: April 03, 2024, 02:05:01 AM »
I’m not sure that any cryptocurrency or anything else that has a financial component can be considered safe; only storing money in real estate that is insured can be safe.

What can be said about the development of USDT is that in fact you can do without it, but trading without a stable asset like USDT is very problematic.

Tether and USDT can, of course, collapse, but I don’t think anyone can do that)) there’s a lot of money there, a lot of people, it’s very unsafe, I’m sure it won’t collapse.
Even though Tether always tries to provide the most reliable proof of reserves, there is still concern in the crypto investment community, and many people fear that Tether could collapse due to the company's own deception, if any. I am not sure about the future of Tether, I can only focus on my portfolio.

As you said, if 105B USDT is missing from the market, I think liquidity will be negatively affected and we will go back to the pre-2017 period, when we could only trade altcoins with BTC and calculating profits in USD was really much more complicated. It is best for Tether to continue to exist and USDT will gradually lose market share to USDC and other stablecoins to reduce the impact and consequences in the worst case scenario for Tether in the future.

Offline Trongduy

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Re: Tether's expansion: a good signal for the uptrend?
« Reply #4 on: April 03, 2024, 05:19:35 AM »
  • Is USDT safer than other stablecoins in the market?
  • Are Tether and USDT really important for the development of the crypto market?
  • Could Tether collapse in the future?
1. I think USDT is still the safest and most popular stablecoin in the market, partly because Tether is a large company, and partly because large organizations will not let USDT collapse like UST.

2. USDT is important for the crypto market because it is the largest stablecoin. Tether is important for USDT because it is the issuer. If Tether has a problem, USDT will be affected first, and then the entire crypto market.

3. Any company can collapse and disappear in the future, but I think it will be a long time before we have to worry about this. Tether's financial foundation has been very solid after being built over the years.
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Offline Wiseman

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Re: Tether's expansion: a good signal for the uptrend?
« Reply #5 on: April 03, 2024, 07:54:22 AM »
I’m not sure that any cryptocurrency or anything else that has a financial component can be considered safe; only storing money in real estate that is insured can be safe.

What can be said about the development of USDT is that in fact you can do without it, but trading without a stable asset like USDT is very problematic.

Tether and USDT can, of course, collapse, but I don’t think anyone can do that)) there’s a lot of money there, a lot of people, it’s very unsafe, I’m sure it won’t collapse.
Even though Tether always tries to provide the most reliable proof of reserves, there is still concern in the crypto investment community, and many people fear that Tether could collapse due to the company's own deception, if any. I am not sure about the future of Tether, I can only focus on my portfolio.

As you said, if 105B USDT is missing from the market, I think liquidity will be negatively affected and we will go back to the pre-2017 period, when we could only trade altcoins with BTC and calculating profits in USD was really much more complicated. It is best for Tether to continue to exist and USDT will gradually lose market share to USDC and other stablecoins to reduce the impact and consequences in the worst case scenario for Tether in the future.

In fact, before we traded not only in pairs with Bitcoin, but also on some exchanges there were Dollars, the only drawback was that not in all countries it was possible to withdraw them to your card or wallet, I don’t know why you think USDС is better, as in to me it's the same thing.
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Offline notblox1

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Re: Tether's expansion: a good signal for the uptrend?
« Reply #6 on: April 04, 2024, 01:02:39 AM »
    • Is USDT safer than other stablecoins in the market?
    • Are Tether and USDT really important for the development of the crypto market?
    • Could Tether collapse in the future?
    USDT is not any safer than other stable coins because Tether is a company and they can always get banned and punished by governments.
    Collapse is possible if that happens but I can think of other scenarios of banks not accepting them anymore, or they dont have 1:1 backup with US dollars.
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    Re: Tether's expansion: a good signal for the uptrend?
    « Reply #6 on: April 04, 2024, 01:02:39 AM »


    Offline KryptoBull

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    Re: Tether's expansion: a good signal for the uptrend?
    « Reply #7 on: April 05, 2024, 12:45:37 AM »
    In fact, before we traded not only in pairs with Bitcoin, but also on some exchanges there were Dollars, the only drawback was that not in all countries it was possible to withdraw them to your card or wallet, I don’t know why you think USDС is better, as in to me it's the same thing.
    I don't remember very clearly, I used to have to buy BTC and then use BTC to trade with altcoins, maybe because I don't use USD so I don't trade altcoin/USD pairs.

    Unlike Tether's USDT, USDC is backed by Circle and Coinbase, which are large companies in the US and I think they are reputable enough to ensure the peg of USDC. However, the truth is that at the beginning of this year, USDC also lost its peg and caused many USDC holders to worry or have to sell off at a loss of 25%. This is perhaps something quite difficult for me to understand in the crypto market!


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    Re: Tether's expansion: a good signal for the uptrend?
    « Reply #8 on: April 05, 2024, 07:39:35 AM »
    In fact, before we traded not only in pairs with Bitcoin, but also on some exchanges there were Dollars, the only drawback was that not in all countries it was possible to withdraw them to your card or wallet, I don’t know why you think USDС is better, as in to me it's the same thing.
    I don't remember very clearly, I used to have to buy BTC and then use BTC to trade with altcoins, maybe because I don't use USD so I don't trade altcoin/USD pairs.

    Unlike Tether's USDT, USDC is backed by Circle and Coinbase, which are large companies in the US and I think they are reputable enough to ensure the peg of USDC. However, the truth is that at the beginning of this year, USDC also lost its peg and caused many USDC holders to worry or have to sell off at a loss of 25%. This is perhaps something quite difficult for me to understand in the crypto market!

    I believe that everything that is not called ( USDT ) but has another name and is a steiblcoin I will not trust them with my money for a long saving, and in general I would not advise anyone to keep money in them even in usdt, it is a very convenient tool for trading but not something more.
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    Offline KryptoBull

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    Re: Tether's expansion: a good signal for the uptrend?
    « Reply #9 on: April 07, 2024, 02:08:13 AM »
    I believe that everything that is not called ( USDT ) but has another name and is a steiblcoin I will not trust them with my money for a long saving, and in general I would not advise anyone to keep money in them even in usdt, it is a very convenient tool for trading but not something more.
    I understand that no asset like USDT is completely safe, even USDC has lost its peg before, but we have no better choice. I myself have bought and held USDT to easily DCA BTC, and in the meantime I also get extra profit from Simple Earn. My friends do the same, they don't invest in crypto but USDT is the only way they can access USD, get higher savings returns than bank interest rates and avoid depreciation of the local currency against USD.

    To be honest, we trust Tether and Binance more than traditional banks. The stability of USDT and attractive savings interest rates are also worth us taking a little risk in this market.

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    Re: Tether's expansion: a good signal for the uptrend?
    « Reply #10 on: April 07, 2024, 07:38:40 AM »
    I believe that everything that is not called ( USDT ) but has another name and is a steiblcoin I will not trust them with my money for a long saving, and in general I would not advise anyone to keep money in them even in usdt, it is a very convenient tool for trading but not something more.
    I understand that no asset like USDT is completely safe, even USDC has lost its peg before, but we have no better choice. I myself have bought and held USDT to easily DCA BTC, and in the meantime I also get extra profit from Simple Earn. My friends do the same, they don't invest in crypto but USDT is the only way they can access USD, get higher savings returns than bank interest rates and avoid depreciation of the local currency against USD.

    To be honest, we trust Tether and Binance more than traditional banks. The stability of USDT and attractive savings interest rates are also worth us taking a little risk in this market.

    You are right about banks) they really do not give such interest, if you look around you can find some exchanges that just for the deposit and retention can get almost 20% per year, I think it is a very good percentage, I will attach below as an example of a table with one of the exchanges.

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    Re: Tether's expansion: a good signal for the uptrend?
    « Reply #11 on: April 08, 2024, 02:05:23 AM »
    You are right about banks) they really do not give such interest, if you look around you can find some exchanges that just for the deposit and retention can get almost 20% per year, I think it is a very good percentage, I will attach below as an example of a table with one of the exchanges.

    https://skrinshoter.ru/sP8scWm52ZU
    Normally, the APR for USDT in Simple Earn during the crypto winter is only around 5-6%, which is not really attractive. However, currently, as the demand for margin trading increases, CEXs need more stablecoins to lend and make a profit, so they are also willing to offer higher APRs. It is very difficult to resist this temptation, so many investors have decided to keep their USDT on CEXs instead of self-custodying in personal accounts.

    They are making profits, so they are becoming more and more confident in Tether. I hope Tether will continue to grow and operate stably in the future, bringing peace of mind to both USDT holders and crypto investors!

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    Re: Tether's expansion: a good signal for the uptrend?
    « Reply #12 on: April 08, 2024, 08:16:07 AM »
    You are right about banks) they really do not give such interest, if you look around you can find some exchanges that just for the deposit and retention can get almost 20% per year, I think it is a very good percentage, I will attach below as an example of a table with one of the exchanges.

    https://skrinshoter.ru/sP8scWm52ZU
    Normally, the APR for USDT in Simple Earn during the crypto winter is only around 5-6%, which is not really attractive. However, currently, as the demand for margin trading increases, CEXs need more stablecoins to lend and make a profit, so they are also willing to offer higher APRs. It is very difficult to resist this temptation, so many investors have decided to keep their USDT on CEXs instead of self-custodying in personal accounts.

    They are making profits, so they are becoming more and more confident in Tether. I hope Tether will continue to grow and operate stably in the future, bringing peace of mind to both USDT holders and crypto investors!

    Previously, many exchanges gave such percentages. Now, for example, the binance exchange does not give such percentages because it has become very popular. But if you search, you can find exchanges with such percentages and not pay attention. Only on a very popular exchange.
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    Re: Tether's expansion: a good signal for the uptrend?
    « Reply #13 on: April 08, 2024, 10:21:44 AM »
    P.S. Interesting news today. What do you think about it?

    In 2023, Tether made about $6.2 billion on USDT - that's 78% of what Goldman Sachs made ($7.9 billion) and 72% of what Morgan Stanley made ($8.5 billion).

    Tether has about 100 employees. Goldman Sachs has 49,000 and Morgan Stanley has 82,000.

    Source where the information was taken from: https://twitter.com/teddyfuse/status/1777034406030352656
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    Offline KryptoBull

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    Re: Tether's expansion: a good signal for the uptrend?
    « Reply #14 on: April 09, 2024, 03:41:45 AM »
    P.S. Interesting news today. What do you think about it?

    In 2023, Tether made about $6.2 billion on USDT - that's 78% of what Goldman Sachs made ($7.9 billion) and 72% of what Morgan Stanley made ($8.5 billion).

    Tether has about 100 employees. Goldman Sachs has 49,000 and Morgan Stanley has 82,000.

    Source where the information was taken from: https://twitter.com/teddyfuse/status/1777034406030352656
    I do not doubt Tether's figures and profits, I just find this billion-dollar profit very attractive. We can understand why in recent years large companies and traditional banks also want to participate in the crypto market: they want to acquire users and make money!

    Tether's revenue comes from the yield on US government bonds + the minting and burning fees of USDT. At first, I thought it was quite small, but considering USDT cap of over 100B USD, I can understand that Tether is leading an extremely attractive field in the crypto market. Tether will soon be challenged by CBDC and other stablecoins, such as Ripple's stablecoin.

     

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