Watch together how the bonds cancel | Finance times

Von Krypto News Österreich

With the preparation of FTX and the fully underway, all eyes were directed towards Tether.

If you can find out with the * manual * Handwinken * everything is currently a stable coin and the third largest cryptocurrency in the world after market capitalization We have written Much over the years, but if you still need a top line, the developers explain it here:

tether tokens are assets that can be moved as easily as other digital currencies, but are linked to real currencies 1: 1.

tether tokens are referred to as stable coins because they offer price stability because they are bound to a Fiat currency. This offers dealers, dealers and funds a solution with low volatility when leaving positions on the market.

All Tether tokens are 1: 1 with a suitable Fiat currency (e.g. 1 USD ₮ = 1 USD) and covered 100 % by the reserves of Tether.

And so it works (via coinmarketcap):

Attentive readers will have noticed that a shortened y-axis added drama above. Nevertheless, it is still a remarkable increase in the context of the previous year that almost matches the center-May freakout.

For what it is worth, the Chief Technical Officer from Tether seems to be unimpressed:

Although the nerves show elsewhere:

And, uh, 23 minutes later ...

The above is remarkable, since the tron ​​blockchain is usually the most busy place (under many alternatives) for Tether trading. Ethereum has the most trustworthy network, but the transaction costs of Tron are lower, so it tends to attract the greatest daily volume.

and to confuse the matter even more, Tron has his own minor League stable called USDD. This remains significantly below a dollar at the pixel period after it moved away from its bond a day before, and would therefore be the more obvious candidate for market intervention. But the USDD token is (according to the tron ​​website) more than 200 percent oversured and fully secured by tether reserves solely.

Similar to earlier fluctuations, trons cancellation of USDD should be easy at the nominal value. But for whatever reason, the founder and insatiable publicist Justin Sun prioritizes the trust in the whole of crypto and not into the sum of his parts. Er Set the depegging from usdd FTX, while the current state of crypto is described in intersint -flooded terms:

Anyway, back to Tether. said Chief Technology Officer Paolo Ardoino that the company returns on last day in The amount of $ 700 million "without problems".

It is difficult to reconcile the repayment number with the reported market value of Tether, which has returned to 69 billion USD according to the graphic below with a wider market recovery. Also worth mentioning are the two considerable stamps of fresh brands at the beginning of the week, which together increased the offer by around $ 500 million.

and while Tether has stabilized, the comments on social media tell a different story. Things feel pretty precarious at the moment. And in questions of public trust, FTAV always relies on the wisdom of the mass:

Read more
- Tether says that the exam is still for months because the cryptoma market falls (WSJ)


Source: Financial Times