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Tether Accounts for 5% of Daily Bitcoin Transactions

In a new post on the Omni Layer Medium page, the pseudonymous Omni Core maintainer “dexx” revealed some statistics around Tether’s use of the Bitcoin blockchain and the Omni Layer protocol. In their post, dexx pointed to the TetherUS token’s transactions per day and transaction volume as indicators of the general success of the token, which was created on the Omni Layer network in 2014. Tether Limited is a company that has released multiple stablecoins on the Bitcoin and Ethereum blockchains, and TetherUS was the first stablecoin on the market to gain serious traction. Tether is seen as a rather...

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Bitcoin ETF Approval and Tether to be Wiped Out? 2019 Predictions

We are now two weeks into 2019 though the markets still reek of 2018 fever. I’ll be honest, many of us did expect to see Bitcoin at $10,000.00 by now and some of us may even have felt optimistic enough to believe that the start of 2019 would have bought the same riches as the start of 2018. Two weeks later, we are pretty certain that this is not the case. As we have seen, the markets are riding very low, too many, this is good news - it presents a great buying opportunity, for others though, this is a...

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Further Investigations Into World’s Leading Stablecoin

Reports have surfaced that suggest Tether has got the billions to back its promises to suggest that the stablecoin could be backed one-to-one by dollars. That said, the reserves do not necessarily prove the innocence of Tether in a laundry list of other mismanagement. Earlier in the week, it was reported by Bloomberg that “Crypto-Mystery Clues Suggest Tether Has the Billions It Promised,” alluding to statements which go back four months of money cash held in Tether’s dollar reserves. Unfortunately, though, these claims don’t ensure the leading stablecoin to be backed one-to-one prior to the date of the bank statements,...

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CONFIRMED: Tether Can Afford To Keep USDT

As you should know, USDT is a stablecoin pegged to the US Dollar, created and funded by the team at Tether. The way stablecoins work is that they are backed by FIAT currencies, in order to ensure they are tethered to a set price. In other words, for USDT to be pegged to the US Dollar, it needs to have a like for like backing in dollars, for each 1 USDT, there needs to be $1.00 in the pockets of its creators. Many believe that as a result of the sheer volume of USDT in circulation, Tether do not have...

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Bitfinex Tackle Tether & List Four New Stablecoins

Bitfinex, one of the world’s leading cryptocurrency exchanges have listed four new stablecoins according to reports, in an attempt to shred some of the growing market share of Tether. Over the past day, the market capitalisation of Tether has shot up, suggesting that more USDT Tokens have entered the markets, something that is likely to have caused the recent plunge in the price of Bitcoin. By listing further stablecoins, investors that use Bitfinex are given access to further alternatives, meaning they won’t be forced to choose between USDT or DAI (the two stablecoins currently active on the Bitfinex exchange). This...

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