In its latest announcement, Bitfinex introduced 12 new ERC20 tokens on its trading platform. The exchange made a special notification of the stable coin Dai that is the main competitor of Tether (USDT) which holds the same CEO as Bitfinex reportedly.
Bitfinex introduces 12 new ERC20 tokens for BTC, ETH, & USD trading pairsRead here:
https://coingape.com/nano-cryptocurrency-class-action-lawsuit/I gotta be honest, this doesn't signal any kind of altcoin market recovery at all.
To me, it just signals that greedy bitfinex is pulling off another greedy bitfinex type move.
It looks like a hedging move between tether and dai.
Release a bunch of shitcoins and promote their trading pairs with tether and dai and voila!
You have fooled people into enriching your own capital.
Personally, I stay far away from tether, the absolutely worst "Make money out of thin air" project I have ever seen.
Although it is commonly used in exchanges now, I would advise you stay far away from it.
It is totally unsustainable and unusable.
Try changing your usdt to the actual usd it claims to represent, yeah good luck with that.
