Topic: Tether loses 10 billion dollars (Read 424 times)
That's a big amount and possible reason behind this, could be so many. As it is bear market, so withdrawing assets can be considered as common matter even bitcoin, Ethereum are also being sold and thats why they are dumping. Other reason could be, this is because of the effect of UST! Teher don't have fully backed by usd so its wise to move for decentralize. Or maybe the withdraw Because they want to altcoins & take advantage of bear market
I saw the chart you provided reminds me of events such as UST, moments before the collapse of the UST price there was an extraordinary destruction, even though USDT has very high strength it does not provide a guarantee that USDT can remain stable, the trading volume of USDT can collapse instantly if something happens the bad one. for investors or those who have assets in the form of USDT with amounts must remain cautious.
When the market collapses, there there will be panic situation among the investors this is natural. In this case, whales or big investors always try to be safe. Thousands of big investors have lost what Luna did a few days ago. If a stable coin ends like UST, it will have an effect on the market. Investors are now thinking about the same that has been done in the market with Luna. If there is any doubt about any other project, they will withdraw their money from it, this is natural. but I don't think there will be any such problem in Tether.
The difference between whales and us is that they have money they could lay back towards, whereas we do not have that. Imagine a situation where someone makes 30k a year in the USA, that person is a poor person, it would be SUPER rich in my nation but in the USA that is not enough. And this guy managed to work in UBER for his excess time, basically have no life left, and use all of that to buy about 50k dollar worth of bitcoin recently.Same period but we are talking about someone who has 1 million dollars income yearly, and he invested 50k as well and has a lot more left in other stuff. Which one of them would be able to feel relaxed when bitcoin goes down? Simple answer, right?
I'm just being safe and choosing different stablecoins.I think the last situation has already taught many that it is not worth keeping only one asset so that they wake up in the morning and realize that you have lost everything.It is important to always be prepared for the worst-case scenario.
Without a doubt this is going to make a lot of people that are holding tether to take a very good look at this situation, after all for a very long time there have been many accusations against tether about their tokens not maintaining the one to one ratio they claim.So while I have my doubts this is going to precipitate a crash similar to what we saw with UST it is important to keep looking at the situation and see how it develops, as even if you are not invested in tether if it were to collapse I think we could see a drop in the price many times worse than what we saw with UST.
When the bear market has arrived I think everyone will take their assets from cryptocurrency to real assets to fiat money. One of the easiest ways is via tether. There is no data here that shows that the 10 billion usdt transaction took place with a single transaction. The sheer number of tether users I think makes that many transactions possible.
Like they said its just a 10B, its tiny amount for a stablecoin that's on the top 3.
But some crypto observers are already expecting more stablecoin scam and they were suspecting USDT to be the next since a lot of circulating articles already about it not backed by real USD. So far nothing was said to counter this and then there's SEC who are eager to get their hands on stablecoin regulation while the FED also wants to release their own FEDstablecoin.
Capitalization has gone from $83 billion to $73 billion, so that's not a small amount.
In my opinion, it is not strange that investors are selling USDT when one of the biggest stablecoins collapses (LUNA).
Tether has already been audited several times to verify that all USDT are backed in USD and has passed all audits so far. In my opinion, for security reasons, SEC should check them again. Then we'll all sleep better.
Maybe you are talking about recent audits because way back in 2019, Tether itself admitted that they were not fully backed at one point.
https://www.coindesk.com/markets/2019/11/08/tether-says-its-stablecoin-is-fully-backed-again/
However, even with audits, how sure are we that we are getting the absolute truth behind their assets?
So for me, there's a reason for some holders to switch to other assets and find more solid platforms.
That amount, 10B is already huge to some. It may not be significant to USDT but it is a dent on their market.
When the bear market has arrived I think everyone will take their assets from cryptocurrency to real assets to fiat money. One of the easiest ways is via tether. There is no data here that shows that the 10 billion usdt transaction took place with a single transaction. The sheer number of tether users I think makes that many transactions possible.
Like they said its just a 10B, its tiny amount for a stablecoin that's on the top 3.
But some crypto observers are already expecting more stablecoin scam and they were suspecting USDT to be the next since a lot of circulating articles already about it not backed by real USD. So far nothing was said to counter this and then there's SEC who are eager to get their hands on stablecoin regulation while the FED also wants to release their own FEDstablecoin.
Capitalization has gone from $83 billion to $73 billion, so that's not a small amount.
In my opinion, it is not strange that investors are selling USDT when one of the biggest stablecoins collapses (LUNA).
Tether has already been audited several times to verify that all USDT are backed in USD and has passed all audits so far. In my opinion, for security reasons, SEC should check them again. Then we'll all sleep better.
...
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
I also use Tether and I agree it works, but Tether data is not very reliable. The $10 billion you see in the chart may not have any equivalent in bank accounts. Save the day with Tether, but never trust it. It has a completely opposite structure to the understanding of cryptocurrency. On the other hand, the FED is giving high interest rate signals. We are entering a crisis period for the real sector. Investors may also want to invest in the real sector. Maybe that's why they withdraw their money. Everything is possible. We need to stay calm. I wish you a good day.
When the bear market has arrived I think everyone will take their assets from cryptocurrency to real assets to fiat money. One of the easiest ways is via tether. There is no data here that shows that the 10 billion usdt transaction took place with a single transaction. The sheer number of tether users I think makes that many transactions possible.
Like they said its just a 10B, its tiny amount for a stablecoin that's on the top 3.
But some crypto observers are already expecting more stablecoin scam and they were suspecting USDT to be the next since a lot of circulating articles already about it not backed by real USD. So far nothing was said to counter this and then there's SEC who are eager to get their hands on stablecoin regulation while the FED also wants to release their own FEDstablecoin.
When the bear market has arrived I think everyone will take their assets from cryptocurrency to real assets to fiat money. One of the easiest ways is via tether. There is no data here that shows that the 10 billion usdt transaction took place with a single transaction. The sheer number of tether users I think makes that many transactions possible.
Investors have taken out 10 billion dollars out of tether in these past few weeks according to The Guardian
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
I doubt that they have never lost 10 billion dollars before. And how can you say that they are the whales? and if ever they are the whales I still don't think that there is something happening behind that we don't know. Maybe they are just trying to manipulate the market and take advantage on the current bear market because actually they can. Plus tether is back by dollar, and I don't think there is something happening to us dollars that make them worried. So stop overthinking mate. What happening right now is just a normal market situation every bear market.
Investors have taken out 10 billion dollars out of tether in these past few weeks according to The Guardian
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
LUNA was a very large stablecoin and had a very good reputation, yet the project failed. Certainly, some investors fear that other stablecoins may suffer a similar fate. Tether is dollar backed unlike LUNA which was bitcoin backed. This greatly distinguishes the two projects from each other, but it is possible that someone simply does not know about it and is transferring their money elsewhere for security reasons.
As for my own personal opinion, this is just another day of business in USDT though I am aware that there are some concerns of the company behind this stablecoin not very transparent enough which of course can be the basis of some speculative ideas as to its strength and longevity in light of what happened to UST. No wonder that regulators are now pushing for an established parameters where stablecoins can be able to play especially in the cryptocurrency marketplace most notably with trading. We are, of course, hoping that everything just speculation as I could not imagine what will happen to the whole crypto industry if Tether will collapse.
When the market collapses, there there will be panic situation among the investors this is natural. In this case, whales or big investors always try to be safe. Thousands of big investors have lost what Luna did a few days ago. If a stable coin ends like UST, it will have an effect on the market. Investors are now thinking about the same that has been done in the market with Luna. If there is any doubt about any other project, they will withdraw their money from it, this is natural. but I don't think there will be any such problem in Tether.
Investors have taken out 10 billion dollars out of tether in these past few weeks according to The Guardian
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
Do you really think that there is no reason for such a thing to be glimpsed.
In fact the stablecoins have ceased to be so, it is not a new issue, it is something that has always been said, the stablecoins are uncertainty coins, they are self proclaimed stable, Beyond that pompous name, they are still another token within the crypto niche.
There has been a trust and audit issue with USDT. That's why if you worry about the authenticity of backing up its numbers, you choose another better stable coin in your opinion. One can verify and the others don't want to spend time checking it but the fact that it's at the top of the stable coins won't change. You have an option for a decentralized one which is the DAI and these are far from falling just like what UST has happened. Well, to avoid that happening from that worry, you really have to choose which is trustworthy based on the researches that you'll conduct.
doesn't matter if the reserved fund that's pegged for the USDT is still there and not algorithmic, since it's real backed up with real money then even if there is someone withdrawing more USDT it will definitely be fine.
Unlike algorithmic UST that could get shaken if the market condition become bad and at the same time there is massive selling for the UST because it is an algorithmic that relies heavily in various instruments like other cryptocurrencies.
Unlike algorithmic UST that could get shaken if the market condition become bad and at the same time there is massive selling for the UST because it is an algorithmic that relies heavily in various instruments like other cryptocurrencies.
That's right, While there is still a risk to holding USDT, USDT is not a UST. USDT is backed by the dollar and a few days ago Tether also released the results of its audit for the first quarter with total assets amounting to $82 billion while a circulating capitalization of $74 billion.
Before the collapse of the UST, there were also warnings that the algorithmic stablecoin was unsustainable and would be very risky as it depends on the price movements of bitcoin and other altcoins.
I still think that USDT is not 1to1 ratio backed. I still think that they are lying and they are "mostly in fiat liquid assets", like bonds and such, which are things they could sell in billions without crashing any market. However, thats still not fiat, and I believe that they are making money from people without merit and it should not be really given to them, reaching 80+ billion dollars with this doesn't make any sense to me at all. I get that its the biggest one and they do "audits" but I do not believe that they do audits at all, what they are doing is arranging some audits with some companies and paying them to show what they want shown thats it.
Remember the time that USDT team admitted they were not fully backed by USD assets?
So these whales or big holders maybe are just ensuring their funds are secure in other form.
But I don't think USDT will turn to be scam also. People behind this are already well-known in this market.
And I think, they are pretty established as compared to UST, which is algo-based (no backing of fiat).
So these whales or big holders maybe are just ensuring their funds are secure in other form.
But I don't think USDT will turn to be scam also. People behind this are already well-known in this market.
And I think, they are pretty established as compared to UST, which is algo-based (no backing of fiat).
You are trying to connect events that are almost a year apart. USDT issued an audit on June 30, 2021, indicating that the token was only 10% secured in fiat. Since then, USDT's capitalization was about $62 billion and continued to rise, until May 7, when the capitalization reached $83 billion. And now they have released a new audit saying that they have increased dollar collateral. So your version about investors withdrawing funds because of low fiat collateral doesn't make sense, because if it mattered to investors, we would have seen capitalization decline back in July of last year.
No wonder it happened, if what he meant was the tether count in the entire cryptocurrency community of 10 billion dollars is very possible. Everyone is still thinking positive because we are in a bear market of course tether is used more for entry and exit. Unless it's bad news then it's worth suspecting if tether has bad intentions but this isn't there.
This feels strange of course because until now tether has not been a problem whatsoever and it is still very safe for us to use, it is possible that many investors get profits in tether at this time because it has increased and they issued so many tethers at this time, but we also have to be vigilant because not all coins will always be safe for us to use including stable coins of course, So we have to keep abreast of future developments hopefully there is no problem whatsoever.
Even though it doesn't look strange for us to use, but we need to be aware of it, many investors get profits based on the investment pattern they develop, and even they are good at getting out if something happens in a short time, experienced investors know how to make a purchase and get out of trouble. yes, but talking about stablecoins not all investors believe it, keep an eye on the market and don't do anything based on hype 
This feels strange of course because until now tether has not been a problem whatsoever and it is still very safe for us to use, it is possible that many investors get profits in tether at this time because it has increased and they issued so many tethers at this time, but we also have to be vigilant because not all coins will always be safe for us to use including stable coins of course, So we have to keep abreast of future developments hopefully there is no problem whatsoever.
....
After many years the same rumors are still around, but still, it's being used widely!
Tether is trying to comply and meet the minimum standards required by regulators but this rumor will continue for many more years until they become fully transparent. After many years the same rumors are still around, but still, it's being used widely!
I don't really think they can ever become "fully transparent" not that they would want to anyways,i mean they've lied about being pegged 1:1 with USD for many years before they were finally caught.
USDT is still the grand master of stable coins and it's audited too, I dont know why people are worried about other stable coins because of what happened to UST, we can clearly see how incapable the Luna teams are so do not compare UST with others.
It didn't just happen to UST, it happened to USDN and DEI as wellInvestors have taken out 10 billion dollars out of tether in these past few weeks according to The Guardian
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
How do you tell if they are just only "Investors"
There has been a lot of FUD surrounding stablecoins especially after a couple of them depegged so yeah people are selling hoping that USDT might crash too. Just check out USDC's market cap. It's now the 4th in the rankings. Have you ever seen anything like this before?
You should be more careful with using the term. The way you said "loses" made it appear the company actually lost money. Yes it's not a small amount but it's a normal transaction for them. I'm sure they have anticipated large movents like this.
....
After many years the same rumors are still around, but still, it's being used widely!
Tether is trying to comply and meet the minimum standards required by regulators but this rumor will continue for many more years until they become fully transparent. After many years the same rumors are still around, but still, it's being used widely!
I don't really think they can ever become "fully transparent" not that they would want to anyways,i mean they've lied about being pegged 1:1 with USD for many years before they were finally caught.
~
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
With the UST blunder everyone is skeptical about the so called stable currencies and that is the main reason everyone is selling off their USDT as well because they too have a fair share of issues when it comes to transparency and faced legal issues in the past and you never know when it will fall as well because it is certain that only a small portion of it is pegged with actual US dollars. as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
You should be more careful with using the term. The way you said "loses" made it appear the company actually lost money. Yes it's not a small amount but it's a normal transaction for them. I'm sure they have anticipated large movents like this.
....
After many years the same rumors are still around, but still, it's being used widely!
Tether is trying to comply and meet the minimum standards required by regulators but this rumor will continue for many more years until they become fully transparent. After many years the same rumors are still around, but still, it's being used widely!
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
Most likely, the withdrawal of assets is related to the recent event of the loss of the peg by stablecoins, caused by the events around Terra. The media often writes about the contagion effect, that investors, under the pressure of panic, withdraw their funds and redistribute them to safe havens to wait out this uncertainty in the market. In addition, some evidence suggests that the entire stablecoin industry has experienced an outflow of funds from these assets, as the market is in a bearish trend and this is a normal occurrence.
In any case, if you are trying to hint at a possible usdt scam with these factors, it is unlikely to happen. The market has not yet recovered from the panic that LUNA started, so it is not surprising that investors are leaving the crypto space for a while.
I am more on the idea that some of these whales are cashing out.
Though we can't deny the possibility that some are afraid that USDT may also crashed.
Remember the time that USDT team admitted they were not fully backed by USD assets?
So these whales or big holders maybe are just ensuring their funds are secure in other form.
But I don't think USDT will turn to be scam also. People behind this are already well-known in this market.
And I think, they are pretty established as compared to UST, which is algo-based (no backing of fiat).
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
Most likely, the withdrawal of assets is related to the recent event of the loss of the peg by stablecoins, caused by the events around Terra. The media often writes about the contagion effect, that investors, under the pressure of panic, withdraw their funds and redistribute them to safe havens to wait out this uncertainty in the market. In addition, some evidence suggests that the entire stablecoin industry has experienced an outflow of funds from these assets, as the market is in a bearish trend and this is a normal occurrence.
In any case, if you are trying to hint at a possible usdt scam with these factors, it is unlikely to happen. The market has not yet recovered from the panic that LUNA started, so it is not surprising that investors are leaving the crypto space for a while.
doesn't matter if the reserved fund that's pegged for the USDT is still there and not algorithmic, since it's real backed up with real money then even if there is someone withdrawing more USDT it will definitely be fine.
Unlike algorithmic UST that could get shaken if the market condition become bad and at the same time there is massive selling for the UST because it is an algorithmic that relies heavily in various instruments like other cryptocurrencies.
Unlike algorithmic UST that could get shaken if the market condition become bad and at the same time there is massive selling for the UST because it is an algorithmic that relies heavily in various instruments like other cryptocurrencies.
That's right, While there is still a risk to holding USDT, USDT is not a UST. USDT is backed by the dollar and a few days ago Tether also released the results of its audit for the first quarter with total assets amounting to $82 billion while a circulating capitalization of $74 billion.
Before the collapse of the UST, there were also warnings that the algorithmic stablecoin was unsustainable and would be very risky as it depends on the price movements of bitcoin and other altcoins.
Investors have taken out 10 billion dollars out of tether in these past few weeks according to The Guardian
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
Or probably due to the fear of stable coin crash especially after what happened to UST in the last week or two, isn't?You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
I assume that whales along with average joes are moving towards the decentralized coins like bitcoin which keep the resistance on line and didn't let the panic selling to consume investors.
Whats the points ?
It's normal in and out money, as long the pegged money is 100% 1:1 by US DOLLAR. Then nothing is wrong, however the speculation rumor the backup asset is not 100% full back up + Tether spread the money not only USDT but also some investment too based the information of their treasure money.
It's normal in and out money, as long the pegged money is 100% 1:1 by US DOLLAR. Then nothing is wrong, however the speculation rumor the backup asset is not 100% full back up + Tether spread the money not only USDT but also some investment too based the information of their treasure money.
I was in crypto before stable coins... when they appeared I remember I saw the same rumors, it's not 100% fully backed up! After many years the same rumors are still around, but still, it's being used widely! Can we make any conclusions from that?! I sure can't!
I also believe it's just in & out money! From 80 to 70 billion market cap is a nice drop, but nothing alarming, in my opinion! Maybe it's Musk withdrawing funds to buy Twiter?!
Investors have taken out 10 billion dollars out of tether in these past few weeks according to The Guardian
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
Even though on this scale I do see this as a giant collapse in absolute terms obviously but if you clearly see there have been some minor hiccups in the overall chart earlier also which means that there have been times earlier also when such things have happened, one major reason could be some upcoming bullish movement reduction in the amount of USDT might mean people are going to buy alts in upcoming month. It's too difficult to talk about consequences of such a small thing. You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
Investors have taken out 10 billion dollars out of tether in these past few weeks according to The Guardian
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
I think investors must have think that maybe a similar thing could happen to Tether like the UST of Terra. So maybe they are slowly withdrawing some it and now up to 10 billions have been taken out in the past few weeks.
Of course, for average joe this is scary and alarming because this could mean another crypto bloodbath. Hopefully though those whales are putting it back in the market in other forms of crypto, like bitcoin and any other solid altcoins.
This is actually working out well for USDT as well and Tether company. You know why? Because investors withdrew all that much money, and they were capable of withdrawing that much money without the price moving at all. There are so many projects where if you withdraw 10 billion dollars, they would either not be able to pay it, or they would have a problem in the long run.
This is something we need to care about a lot, if Tether is capable of paying this much, then it is going to end up with a good result in the long run. They are gaining a lot of trust with this move, and people will trust a lot more money to them when the bull market comes by looking at this move.
This is something we need to care about a lot, if Tether is capable of paying this much, then it is going to end up with a good result in the long run. They are gaining a lot of trust with this move, and people will trust a lot more money to them when the bull market comes by looking at this move.
We don't know what that is but something is for sure this is a bear market and we can expect like this to happen. What can we speculate for a stablecoin by the way? I think it doesn't related to the market performance like being FOMO, it's more on the security side I guess considering that UST collapse.
USDT is still the grand master of stable coins and it's audited too, I dont know why people are worried about other stable coins because of what happened to UST, we can clearly see how incapable the Luna teams are so do not compare UST with others.
You cannot blame them, since a so called stable coin collapsed and many are afraid right now that it might happen again to other stable coin. Tether also move on its price and maybe the selling pressure are the reason why there’s a sudden dump. Anyway, Tether are more established, I’m pretty sure they have the back up plans now that they have the idea ok what will happen if a stable coin suddenly become too volatile. 
doesn't matter if the reserved fund that's pegged for the USDT is still there and not algorithmic, since it's real backed up with real money then even if there is someone withdrawing more USDT it will definitely be fine.
Unlike algorithmic UST that could get shaken if the market condition become bad and at the same time there is massive selling for the UST because it is an algorithmic that relies heavily in various instruments like other cryptocurrencies.
Unlike algorithmic UST that could get shaken if the market condition become bad and at the same time there is massive selling for the UST because it is an algorithmic that relies heavily in various instruments like other cryptocurrencies.
I'm just being safe and choosing different stablecoins.I think the last situation has already taught many that it is not worth keeping only one asset so that they wake up in the morning and realize that you have lost everything.It is important to always be prepared for the worst-case scenario.
for now I still see the movement of tether is very stable and still very calm there is no decline there, you should provide evidence and relevant data about the decline in tether, is the chart you sent is a former transaction in and out of someone's wallet, and that's very clear not from the charts on cmc or any other market,
Investors have taken out 10 billion dollars out of tether in these past few weeks according to The Guardian
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
"investors"
You are pretty naive imo. I think them investors never existed. Do you really believe some big whale (or a few) whales) just decided to pull $10b out of tether (which was 1/8 of tether's total supply btw) just like that? When usdt marketcap was going down it was always round numbers like $1b, $2b, $500m. Now the marketcap is going down and the same thing is happening.
So, investors my ass.
Whats the points ?
It's normal in and out money, as long the pegged money is 100% 1:1 by US DOLLAR. Then nothing is wrong, however the speculation rumor the backup asset is not 100% full back up + Tether spread the money not only USDT but also some investment too based the information of their treasure money.
It's normal in and out money, as long the pegged money is 100% 1:1 by US DOLLAR. Then nothing is wrong, however the speculation rumor the backup asset is not 100% full back up + Tether spread the money not only USDT but also some investment too based the information of their treasure money.
Investors have taken out 10 billion dollars out of tether in these past few weeks according to The Guardian
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
People like this see things based on opportunities, maybe there are new things they see, so they need to take that step in securing their assets, for now people who have assets in Usdt need to be aware of this, maybe in the future they will make a scenario massive correction of Usdt and we never know for sure what they are planning in the future You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
there is no valid news source with what you are talking about the picture you provide as a chart also does not make that proof that anyone or company has lost that much USDT and it has no impact at all on the USDT market at this time they are still stable and calm. If what this graph means is transactions that go out of USDT supplies into people's wallets, I think that's normal, they are working properly.
This is a small amount for the crypto market, maybe the manipulators want more panic.
However:
Andreessen Horowitz raises $4.5 billion crypto fund to take advantage of bargains in down market
https://www.cnbc.com/2022/05/25/andreessen-horowitz-raises-4point5-billion-crypto-fund-in-down-market.html
However:
Andreessen Horowitz raises $4.5 billion crypto fund to take advantage of bargains in down market
https://www.cnbc.com/2022/05/25/andreessen-horowitz-raises-4point5-billion-crypto-fund-in-down-market.html
Investors have taken out 10 billion dollars out of tether in these past few weeks according to The Guardian
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
This is bear market, did you know how many dollars that has been taken out of bitcoin and all altcoins? It is in billions. This should not be a panic, tether was once worth less than $10 billion in 2 or 3 years ago but its price remain stable with dollars which it is pegged with.You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
What I did not like about tether is just that the coin is centralized and can be frozen even on noncustododial wallet by Tether developer. This is a reason not to buy tether.
USDT is still the grand master of stable coins and it's audited too, I dont know why people are worried about other stable coins because of what happened to UST, we can clearly see how incapable the Luna teams are so do not compare UST with others.
For whatever it's worth, I feel like this will be a historic day for Bitcoin and other cryptocurrencies in general. It's not just that there are doors open to other financial industries. as you mentioned above what's interesting about this situation is that for the first time we can actually see how much USDT is in circulation and who owns it on the other hand Tether has no intrinsic value, it was the first cryptocurrency to exist and struggled for years below the 1:1 benchmark because people still believe it.
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
They know something we don't know. Probably their own agenda. They were taking huge amounts of their USDT. That proves that if there will be something bad happening. I may think if what already accused by a member here may become true. Tether has not fully backed by the dollars and those whales are feeling worry with it and they are taking their money from the market rather than put their money into the risk caused by UST has proven even stable token that can collapse anytime.
Investors have taken out 10 billion dollars out of tether in these past few weeks according to The Guardian
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk
as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?
Jump to: