Hunger games with tether coin

Jul 11, 2022
2 min read
Blockchain

Hunger games with tether coin

Hunger games with tether coin

Not long ago, Bitfinex & Tether CTO Paolo Ardoino stated that some hedge funds will try to cause a panic in the cryptocurrency market after the TERRA/LUNA crash. They will do this through coordinated attacks with asymmetric rates, short selling, and unbalancing DeFi pools. All in the name of hurting Tether’s liquidity and eventually buying back the tokens at a much lower price.

When Paolo Ardoino wrote a whole thread on Twitter about this issue a real panic started. The most important of his arguments in favor of Tether :
— There have never been failed redemptions & all USDt are redeemed at the price of $1.
— In more than a month, Tether has processed 16 billion redemptions, which once again proves that all operations, portfolio, banking infrastructure, and team are reliable & battle-tested.
— Reduction in the commercial paper number from ~ 45 billion to ~ 8.4 billion & the intention to completely abandon them in the coming months.
— Tether’s portfolio is stronger than ever & Tether is the only stablecoin tested by the fire under extreme pressure.

“Can other stablecoins stand the same test? Can losing operations go on forever, burning money simply because they have shareholders with big pockets?” he added.

Total what we have.
Significant funds are pushing people to get rid of stablecoins and buy the same Bitcoin / Altcoins. At the same time, they themselves become long on Bitcoin/Altcoins, take profits, and then reduce their short positions with Tether. Hedge funds then switch to short Bitcoin/Altcoin, expecting the price to go down because the pressure of inflation pushes Bitcoin back to lower levels anyway. So large funds once again make money on currency fluctuations, creating false pretexts — a swing in the market at the expense of other traders, and all for the sake of price movements.

So if your business is in any way connected with this cryptocurrency & if your team doesn’t have competent specialists, or if you don’t fully understand this area, then come to us — we will help you!

More Related articles

All Articles

NFT Marketplace: Cost and monetization strategy
Sep 14, 2022
NFT Marketplace: Cost and monetization strategy
Read arcticle
11 min read
How to Create a Software Requirements Specification (SRS) for Your Project
Sep 30, 2022
How to Create a Software Requirements Specification (SRS) for Your Project
Read arcticle
12 min read
Angular vs React: Which Front-end Framework to Use for Your Blockchain App
Oct 18, 2022
Angular vs React: Which Front-end Framework to Use for Your Blockchain App
How to write a white paper for your blockchain project
Oct 31, 2022
How to write a white paper for your blockchain project
Building your DEX: What you need to know before you start
Dec 06, 2022
Building your DEX: What you need to know before you start
9 Things to Consider During eCommerce Website Development (Shopify, WooCommerce, Custom CMS, Open Card)
Nov 28, 2022
9 Things to Consider During eCommerce Website Development (Shopify, WooCommerce, Custom CMS, Open Card)
NFT Marketplace: Cost and monetization strategy
Sep 14, 2022
NFT Marketplace: Cost and monetization strategy
Read arcticle
11 min read
How to Create a Software Requirements Specification (SRS) for Your Project
Sep 30, 2022
How to Create a Software Requirements Specification (SRS) for Your Project
Read arcticle
12 min read
To the top

We use cookies

Bot1101
Contact us

To contact us, please fill out the following form.

Please complete this

Please complete this. Email must contain "@."

Min. 8 numbers

File requirements: pdf, doc, docx, rtf, ppt, pptx

Set the flag

Starts-Image