Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: zorchy on October 15, 2018, 07:03:33 PM
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Some people say that the mission of the USDT was created to collapse.Why does OKex trade all large-scale USDT futures explosions? This caused the entire market to start exploding, and coins such as Bitcoin Ethereum rose rapidly, and BTC rose 13%. Is this situation beneficial to this market? Will the collapse of the USDT cause the entire market to collapse? What do you think will happen in the next situation?
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This is a tough one, because I don't really see any evidence that Tether is doing anything wrong or that BitFinex doesn't have the tether backed up... but I can definitely understand the lack of transparency concerns. I personally don't like the idea of using USD or USDT on exchanges as a holdable commodity that you arent cashing out, because it creates a shelter for a shelter.. and it creates these crazy Alt - > BTC - > Tether -> BTC - > Alt position trades that I don't think are healthy for the market... but I see no sign for concern at least as of now, and it seemed all created as a plot for whales to move margin exchanges.
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I think because USDT is a stable coin because the price is set by the US Dollar. Because of this, USDT will never experience price fluctuations such as crypto coins in general. So, it can be said that investing in this coin is safe but not profitable enough.
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USDT is supposed to be a stable coin and with the happenings around it, People are beginning to doubt its credibility. The USDT holders are selling off to buy other coins and BTC. This is why the price of BTC has surged . The happening is not good and can be disastrous to both USD and other coins. The collapse of the stable coin like USDT can cause severe volatility and loss of confidence in the crypto space
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I think because USDT is a stable coin because the price is set by the US Dollar. Because of this, USDT will never experience price fluctuations such as crypto coins in general. So, it can be said that investing in this coin is safe but not profitable enough.
Thing is really its only as stable as its perception to be stable.. two days ago was a prime example of how volatile even stable coins can be when theres fud in the air. (Bitfinex halting deposits, Kucoin stopping USDT transfers). Theres lots of money in USDT and some hodlers have millions to lose if the token crashes, so it can cause lots of panic very easily.
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USDT will collapse because this coin does not have price fluctuations like crypto coins in general. Coins like the USDT tend to be stable because they follow the dollar exchange rate. So, it's better to think 3x to invest in this coin.