usdt tether market cap grows from 4,6 billions to 10,800 billions from March

[marlo1001]

Look at the whole industry market cap. Its the normal and logical process

[mindrust]

Rather stay away from Tether, who knows how many real dollars they have in banks? Maybe they are creating USDT tokens that are note backed by dollars from the air, just like banks and FED do it. Then it would mean a huge problem for all USDT holders.

Traders use USDT to fix their profit. And despite the fact that in addition to usdt, there are more than ten different stable coins on the market, it is the most popular, because it is represented on all exchanges. There is another option to trade in Fiat currencies, but these pairs have very little liquidity.

usdt is indeed useful and they dont questioned it but people are more concerned if the coin is really backed by the amount that it market cap achieved . i feel yes because money can be printed easily  . usdt is a virtual currency just like btc and other cryptos but why people dont ask the same to btc  and other cryptos where cryptos aside from tether are mostly not backed by anything but still they fully trust it .

for now , cryptos are now getting stable compare to before so the demand for stable coins are also gettting stable and not that high

People are asking if they are truly backed by US$ because they claimed to be pegged at US$. So they need to keep their word about the assets backing their supply. Up until now, I have some sort of hesitation if they are absolutely giving the right figures here. As only last year, they admitted that at one point they are not truly backed by the amount of assets that they should be having. So right now, we don't know how true they are keeping to their words.

They don't claim USDT to be backed by USD only anymore.

According to Finex, USDT could be backed by anything. Including real estate, stocks, gold and wait for it... Bitcoin. (or other crypto)

Meaning, they can print USDT and buy Bitcoin to back their own USDT.

INFINITE MONEY!

[MiningBattalion]

Tether will be the good project.And traders using tether to backup their currency,when the market is get into downtrend.Even when the price reached a maximum high,traders convert their bitcoin or ethereum into tusd.The reason behind this one is ,the price of tether will not get into major chage as like bitcoin and Ethereum.

[Vishnu.Reang]

Now the USDT market cap has increased to $15.7 billion. Given the volatility of Bitcoin and the other altcoins, it will continue to increase. But I don't think that this is sustainable. Tether is not doing any independent third party audit of its assets and there is a very real chance that the Tether team is misusing the backup funds for their own benefit (which they are already accused of).

[tvplus006]

Now the USDT market cap has increased to $15.7 billion. Given the volatility of Bitcoin and the other altcoins, it will continue to increase. But I don't think that this is sustainable. Tether is not doing any independent third party audit of its assets and there is a very real chance that the Tether team is misusing the backup funds for their own benefit (which they are already accused of).

The stability of USDT is maintained due to the trust of participants in the cryptocurrency market. Just as the stability of the Fiat dollar is ensured by trust in it. If the Tether Limited campaign runs into problems and their activities are checked by regulators, it can cause a USDT dump and bring down the entire cryptocurrency market.

[EmmaGod]

usdt tether market cap grows from 4,6 billions to 10,800 billions from March 2020

For last week - when btc jumped from 9 000 to 11 000 - tether issued 800 millions usdt

Do you think tether really has fiat for backing this usdt? 

To the best of my understanding, tether does not need to have the exact amount fiat needed to back up all the issued crypto. It only needs sufficient amount to keep the system running. I don't think every person who holds fiat would require them immediately. It's almost synonymous to the banks who tends to hold a whole lot of customers deposit, but they only need enough cash to keep customers satisfied and invest some of customers deposit in zero or low risk venture, they even give out loans to other customers but always ensure that they keep the needed fund that may be required by customers.

[poodle63]

So many people are using their stablecoin although it might looks shady for some people here but in my opinion it's kinda borderline makes sense if they could grow that fast but honestly it's better to see they got re-audited somehow and being more transparent. However if there's something shady going on I'm sure the community will figure it out hopefully. But, honestly sometime I wonder if they partnership with some of the banks out there really add credibility and reliabilty because it just doesnt sit right in my mind.

[barbara44]

What we should really realize is the fact that as long as there is attention and demand for it, it could reach 100 billion or 1 trillion, there is realistically nothing that can stop it. What needs to be done to print more usdt? There needs to be more request of USDT from tether, so if everyone gets together and sends another 1 billion to tether, they will print another 1 billion usdt.

So, as long as people keep sending money to them, why should they stop printing usdt? If we are not really comfortable with one company having over 10 billion dollars in cash because they printed something "fake" as usdt and allow us to trade usd without really having any usd legally, we just need to stop sending them our money and start withdrawing money from them instead so that they could not have all our money.

[Google+]

So many people are using their stablecoin although it might looks shady for some people here but in my opinion it's kinda borderline makes sense if they could grow that fast but honestly it's better to see they got re-audited somehow and being more transparent. However if there's something shady going on I'm sure the community will figure it out hopefully. But, honestly sometime I wonder if they partnership with some of the banks out there really add credibility and reliabilty because it just doesnt sit right in my mind.

I think many people use stablecoins like USDT for trading because indeed a stable and easy to use exchange is stable coin, usually the pair used is USDT/BTC or USDT/ETH and others, whereas if you use other coins for trading capital, for example BTC/ETH or BTC/XRP will have a double risk because when both coin prices fall it will suffer a lot of losses.

[aemma]

The only reason why Tether is still growing is that, it is stable and taking the volatility of the crypto space into account then you will see the reason why it keeps growing. I see it this way, the more crypto projects increases, the more people trade and since volatility still abounds, keeping funds in USDT seems to be better or trading against USDT is better. Even nowadays most projects lists against USDT unlike before it was majorly BTC or ETH.
Therefore, so far people continue seeing the need to use USDT be it in trading or keeping against volatility, USDT market cap will continue growing. As for what it is backed with, we can only believe what the team say because USDT is centralized and controlled by the team.

[sharos]

USDT is really amazing. Who doesn't like high cryptocurrency market risk, USDT is best for their. Now USDTs market cap is $15,759,333,913
and 24 hours Volume $47,876,932,368, Its really good. Personally, I like to hold USDT for sending payment.

[WalkerIVIV]

Look at the whole industry market cap. Its the normal and logical process

The problem is where can we see the asset that has already used to backed the stable coin? In fact the tether treasury is also printing more and more money anytime. I remember tether was printing multi million dollars and this could happen a few times in a month.
I know that this is normal but sometimes it looks so shady to see that happened.
The mcap of tether is also growing so fast. It's a logic and non logical process.

[casperBGD]

USDT is really amazing. Who doesn't like high cryptocurrency market risk, USDT is best for their. Now USDTs market cap is $15,759,333,913
and 24 hours Volume $47,876,932,368, Its really good. Personally, I like to hold USDT for sending payment.

why do you like it? you find it easier to send payments with USDT? but, when i look at transaction fees on Ethereum network, it is not that good option, do you use USDT on different platforms for payments, maybe TRX?
i find it risky to put much money in USDT, since there is no proof that USDT is covered with collateral, especially since there is a lot of new tokens minted, and we cannot see that there are new collateral to support this minting

i am not saying that i avoid USDT, but i do not find it that convenient and secure

[masterrex]

I don't think so, that was already a huge amount It is around 10.8 billion USDT was minted valued at ($10.8Billion) in circulation, correct me if I am wrong, and the USDT token is keep growing in numbers and without fiat back up Its nothing but empty so I believe that each USDT token was not really backed by fiat (US$) to make it a Stablecoin, In the process, it makes USDT more complicated and might be subjected to government intervention or scrutiny that's why it's considered risky.

[BTCappu]

usdt tether market cap grows from 4,6 billions to 10,800 billions from March 2020

For last week - when btc jumped from 9 000 to 11 000 - tether issued 800 millions usdt

Do you think tether really has fiat for backing this usdt? 

USDT is being traded a lot, I checked the volume and it’s more than BTC and ETH, so it has really been increasing. We were discussing this last week about how USDT has been increasing it’s market cap, and some people believed that it might soon overtake Ethereum with the way things are going. And whether tether is really backed completely by the USD is what I can’t tell, but from what I have read on Forbes it’s not 100% backed by USD.

i find it risky to put much money in USDT, since there is no proof that USDT is covered with collateral, especially since there is a lot of new tokens minted, and we cannot see that there are new collateral to support this minting

I think they already dropped a clue on their website that shows that USDT is not fully a USD backed cryptocurrency (stablecoin). But there are other stablecoins that are really backed by the USD, just like PAX? But USDT seems to be more popular than the other ones because it came before them, so it’s leading the way.

[bitkanu]

Look at the whole industry market cap. Its the normal and logical process

The growth that happened with the stable coin and its mcap is not so transparent to the public and that will be a big question. Just take a look at how USDC was printing more and more money everyday.
How is it possible for the USDC to get a lot of money everyday?

That looks so crazy and in my opinion, if that could become a manipulation that has already made.
That looks suspicious.

[SquallLeonhart]

USDT literally told people it didn't backed 1 to 1 for a period, they at least didn't lied which is at least an improvement, we really need places like them which does screw up time to time but at least no lie about it neither. Now when you are a company that sold 10 billion dollars worth of anything and have 10 billion dollars backing something, you are not actually just putting it in a savings account and letting it be.

You use that money, you think insurance companies take your money and wait until you get sick? They have some in liquid assets they can get out very easily, even some cash, but most of their money is in investment as well. Which is why I think it is quite important that we realize Tether could make that money back very quickly whenever they lose it.

[alisonwonder]

I don't think so, that was already a huge amount It is around 10.8 billion USDT was minted valued at ($10.8Billion) in circulation, correct me if I am wrong, and the USDT token is keep growing in numbers and without fiat back up Its nothing but empty so I believe that each USDT token was not really backed by fiat (US$) to make it a Stablecoin, In the process, it makes USDT more complicated and might be subjected to government intervention or scrutiny that's why it's considered risky.

from what I have often encountered in cryptocurrency when a coin has a very large supply it will provide a very high risk, one of the risks is that it can make the price collapse due to price inflation, so in my opinion if it has a limited supply it is not an important problem.

[1kodumtek7]

Tether is not printed for free. It is a very normal situation for it to increase since March. It means that there is an inflow of money into the market. Bitcoin price has increased correspondingly. The real problem will begin when these tetheres are withdrawn from the market. Then we can see a drop.