Impact of USDT in the Crypto Market?

[Abiky]

As of today, Tether's USDT stablecoin is the world's third-largest cryptocurrency by market cap. It experienced an unprecedented rise since the COVID-19 outbreak took the world by storm. Some say that USDT is being massively pumped on the market by the Tether company itself. With shady operations such as lack of transparency, I wouldn't be surprised if USDT goes down the drain sometime in the future.

The real issue is not USDT itself, but rather its impact on the crypto market in the long term. For now, USDT has a positive impact over the crypto market due to the extreme hype surrounding stablecoins and "De-Fi". But if USDT is being artificially pumped, the effects won't last for long. Imagine if USDT goes all the way to $0 in the future due to a large government crackdown. It would turn out to be completely disastrous for the entire crypto market, since it's directly linked to stablecoins. At least, the downfall in crypto's prices will be in the short term. With USDT censoring people from getting access to their funds, anything could happen in the future.

What impact will USDT have in the crypto market over the long term? Will it be a positive or negative one? What if governments find out that Tether is a scam? Being the world's third-largest cryptocurrency in market cap, a full government crackdown will turn out to be a huge blow to the entire crypto/Blockchain space. Thoughts?

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[crwth]

In a long-term perspective, there's nothing much to consider because I know it will recover even if the value of USDT due to government breakdown turns to zero, it's just time to change to another stable coin. Maybe the USDC would provide better regulations and transparency when it comes to evaluation if there are actual backed currencies in their vault.

The impact would be devastating at the start, and since almost every reliable crypto is being traded with USDT, the markets would be affected. There could be a crash and possibly recover when the time comes.

[tabas]

With shady operations such as lack of transparency, I wouldn't be surprised if USDT goes down the drain sometime in the future.

In fact, Tether just keeps on printing like brrrrrrrrrrrrrrr and that's why it's being disliked.

The real issue is not USDT itself, but rather its impact on the crypto market in the long term. For now, USDT has a positive impact over the crypto market due to the extreme hype surrounding stablecoins and "De-Fi". But if USDT is being artificially pumped, the effects won't last for long. Imagine if USDT goes all the way to $0 in the future due to a large government crackdown. It would turn out to be completely disastrous for the entire crypto market, since it's directly linked to stablecoins. At least, the downfall in crypto's prices will be in the short term. With USDT censoring people from getting access to their funds, anything could happen in the future.

This is absolutely true.
The 2017 all-time high for bitcoin, it's not just about ICOs but also Tether have made contributions with that. But I think even if it goes to $0, bitcoin and it's associate altcoins will recover eventually. That's the normal attitude of crypto.

[btc_angela]

What impact will USDT have in the crypto market over the long term? Will it be a positive or negative one? What if governments find out that Tether is a scam? Being the world's third-largest cryptocurrency in market cap, a full government crackdown will turn out to be a huge blow to the entire crypto/Blockchain space. Thoughts?

Tether has been in the radar from regulators already, and allegedly they are doing a lot of fraudulent practice from behind, they don't even let auditors do their job, so its just a matter of time that US government will go after them. But I don't think it will be a huge blow to the market because as I have said, there's no secret that they are doing some pump. Probably it will have a short term effect, just like any negative news, but in the long run, much better without them.

[kentrolla]

I guess the supply of USDT is growing substantially and the exchanges was continuously high, so this made a serious surge in the market. When BTC price goes down immediately many of them change it to USDT as a comfort zone.

Also a big drop in BTC and other cryptocurrencies fueled by corona virus USDT have pumped now, also it surpassed XRP as well. There are possiblities if the crypto currencies recover.

[Yogee]

How do stable coin's price get pumped? It should remain at $1 or close to it regardless of the market fluctuations to be called stable right?

It manged to climb to number 3 by market cap because the company behind it minted more during COVID-19. If I'm not mistaken, they added 280 million tether from March to April 2020. We can't really call that as an "unprecedented rise".

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What impact will USDT have in the crypto market over the long term? Will it be a positive or negative one? What if governments find out that Tether is a scam? Being the world's third-largest cryptocurrency in market cap, a full government crackdown will turn out to be a huge blow to the entire crypto/Blockchain space. Thoughts?

I don't know if it's a huge blow. I would rather call it a huge cleansing of the cryptocurrency space. It is a fact that the tether team were caught lying when they said 1 USDT is backed by 1 USD. They eventually revealed that it's backed by USD and some other assets. The market doesn't need shady behavior like that and I think a more reputable stable coin like DAI deserves more support.

[Fundamentals Of]

Somehow the real issue is USDT itself because it has yet to prove that there is really a real USD behind every USDT.

The role of stablecoins such as USDT is good. I am using a stable coin whenever I need to because it is the only stable coin in exchange platforms. When you are doubting on which specific direction Bitcoin or any altcoin will take next, you better be choosing the safer option which is USDT.

[havoc928]

Somehow the real issue is USDT itself because it has yet to prove that there is really a real USD behind every USDT.

The role of stablecoins such as USDT is good. I am using a stable coin whenever I need to because it is the only stable coin in exchange platforms. When you are doubting on which specific direction Bitcoin or any altcoin will take next, you better be choosing the safer option which is USDT.

It's true. USDT acts like a safe zone that allows traders to store their money without worrying too much about the volatility or unpredictable fluctuations of the market. As a trader and investor, I don't see any problem with USDT since it has been proving to be a very efficient coin to us. I use USDT all the time when I need a place to keep my capital as stablest as possible.

[tsaroz]

The popularity of USDT signifies the importance of stable coin rather than importance of itself. Most of the users are still using it as there are no alternatives in most of the places and are no other stable coin that are so widely accepted. The another big advantage of USDT over other stable coins are it's cross platform nature and their easier interchange. That's a unique feature as more and more people are moving towards dapps and dex.

[rz20]

There lot of uncertainties around stable coins these days with many central banks now proposing to ban stable coins 'coz according to them only they have a right to print money lol.

even if USDT becomes unusable there are tons of other stable coins out there to choose from.

[bayudndy]

Somehow the real issue is USDT itself because it has yet to prove that there is really a real USD behind every USDT.

The role of stablecoins such as USDT is good. I am using a stable coin whenever I need to because it is the only stable coin in exchange platforms. When you are doubting on which specific direction Bitcoin or any altcoin will take next, you better be choosing the safer option which is USDT.

It's true. USDT acts like a safe zone that allows traders to store their money without worrying too much about the volatility or unpredictable fluctuations of the market. As a trader and investor, I don't see any problem with USDT since it has been proving to be a very efficient coin to us. I use USDT all the time when I need a place to keep my capital as stablest as possible.

USDT is a safe place for us to choose when the market collapses or fluctuates too much, and I totally agree with you that we can trust and use USDT for a long time. Previously there was bad news about USDT but it did not affect too much the project, now it continues to grow and expand every day.

[mersal]

As of today, Tether's USDT stablecoin is the world's third-largest cryptocurrency by market cap. It experienced an unprecedented rise since the COVID-19 outbreak took the world by storm. Some say that USDT is being massively pumped on the market by the Tether company itself. With shady operations such as lack of transparency, I wouldn't be surprised if USDT goes down the drain sometime in the future.

The real issue is not USDT itself, but rather its impact on the crypto market in the long term. For now, USDT has a positive impact over the crypto market due to the extreme hype surrounding stablecoins and "De-Fi". But if USDT is being artificially pumped, the effects won't last for long. Imagine if USDT goes all the way to $0 in the future due to a large government crackdown. It would turn out to be completely disastrous for the entire crypto market, since it's directly linked to stablecoins. At least, the downfall in crypto's prices will be in the short term. With USDT censoring people from getting access to their funds, anything could happen in the future.

What impact will USDT have in the crypto market over the long term? Will it be a positive or negative one? What if governments find out that Tether is a scam? Being the world's third-largest cryptocurrency in market cap, a full government crackdown will turn out to be a huge blow to the entire crypto/Blockchain space. Thoughts?

In the long run tether is going to be a harmful one for the crypto market for sure if they exists that much longer because they can be manipulated which will decrease the stability on other crypto prices if its get adopted as the main stream payment.So we should stop using the stable coins as soon as well can or else it may change the entire direction of crypto market in the wrong way.

[Iyanu14]

As of today, Tether's USDT stablecoin is the world's third-largest cryptocurrency by market cap. It experienced an unprecedented rise since the COVID-19 outbreak took the world by storm. Some say that USDT is being massively pumped on the market by the Tether company itself. With shady operations such as lack of transparency, I wouldn't be surprised if USDT goes down the drain sometime in the future.

The real issue is not USDT itself, but rather its impact on the crypto market in the long term. For now, USDT has a positive impact over the crypto market due to the extreme hype surrounding stablecoins and "De-Fi". But if USDT is being artificially pumped, the effects won't last for long. Imagine if USDT goes all the way to $0 in the future due to a large government crackdown. It would turn out to be completely disastrous for the entire crypto market, since it's directly linked to stablecoins. At least, the downfall in crypto's prices will be in the short term. With USDT censoring people from getting access to their funds, anything could happen in the future.

What impact will USDT have in the crypto market over the long term? Will it be a positive or negative one? What if governments find out that Tether is a scam? Being the world's third-largest cryptocurrency in market cap, a full government crackdown will turn out to be a huge blow to the entire crypto/Blockchain space. Thoughts?

Anyway, what I know for now is that, USDT as one of the stable coins has been so much beneficial to the crypto market.  Investors have been using it greatly for transactions most especially when the market price dump.  But if its values has been manipulated, I wonder how long they can keep to this, then if this is bursted, lots of investors will definitely agonise.

[Anonylz]

There are alternatives to usdt like the Busd for instance, fully backed by us dollar and is approved by the "New York State Department of Financial Services (NYDFS)" in my opinion, I would much rather use a stablecoin with this type of approval and support than the former, after all, they serve the same purpose, because you never know what will come up some day in the future, if they are pumping more usdt in circulation without any control then I believe sooner or later, things will take a different turn, in other to avoid any future harm,  better to stick with the one that is fully approved.

[TopT3ns]

The popularity of USDT signifies the importance of stable coin rather than importance of itself. Most of the users are still using it as there are no alternatives in most of the places and are no other stable coin that are so widely accepted. The another big advantage of USDT over other stable coins are it's cross platform nature and their easier interchange. That's a unique feature as more and more people are moving towards dapps and dex.

although the exchange could be easier but it still could not have the effect that could give an increase in the price of cryptocurrency, so in my opinion USDT is the same as other cryptocurrency if there is no support then the price will not be expensive again.

[suryapro]

I guess USDT will keep growing due to the huge acceptance of it by all cryptocurrency enthusiasts, currently almost everybody make use of USDT which keep Advancing the platform, I see more good contributions coming from USDT to the market in the future.

[holly.ball8]

Govt already set their eyes on USDT or any stablecoin by recently, freeze an account holding stablecoin asset. Next few years will have more rules and regulations to control stablecoin.

[sayulita]

As of today, Tether's USDT stablecoin is the world's third-largest cryptocurrency by market cap. It experienced an unprecedented rise since the COVID-19 outbreak took the world by storm. Some say that USDT is being massively pumped on the market by the Tether company itself. With shady operations such as lack of transparency, I wouldn't be surprised if USDT goes down the drain sometime in the future.

The real issue is not USDT itself, but rather its impact on the crypto market in the long term. For now, USDT has a positive impact over the crypto market due to the extreme hype surrounding stablecoins and "De-Fi". But if USDT is being artificially pumped, the effects won't last for long. Imagine if USDT goes all the way to $0 in the future due to a large government crackdown. It would turn out to be completely disastrous for the entire crypto market, since it's directly linked to stablecoins. At least, the downfall in crypto's prices will be in the short term. With USDT censoring people from getting access to their funds, anything could happen in the future.

What impact will USDT have in the crypto market over the long term? Will it be a positive or negative one? What if governments find out that Tether is a scam? Being the world's third-largest cryptocurrency in market cap, a full government crackdown will turn out to be a huge blow to the entire crypto/Blockchain space. Thoughts?

If the downfall of Tether happens then the price of other cryptocurrencies should rise in an ideal market as people will dump Tether like crazy and will buy other crypto in exchange for selling tether which will pump that coin pair's price and Bitcoin is the most traded coin pair with tether, so directly the funds of Tether will pump the price of Bitcoin and we can see a flash rise in the price of bitcoin when the Tether kingdom falls. I also think that the Tether Limited is actually issuing more Tether than the actual amount of funding in dollars they are holding currently.

[MikeyVeez]

Who knows what is the truth about printing USDT and the bull market in 2017. Tether was accused that the growth was not natural because it was pushed by money that doesn´t exist. But Tether successfully withstood this accusation and is live, stronger than ever.

[jacafbiz]

I don't know why people do not give Tether the respect it deserves, I used to bash Tether like this before until the last bear market when I understand its role in the space, no company is perfect and the team never claim to be saint but it paves the way for stable coin market in the space, there is a reason why is still growing and people won't trust it to be holding it. The demand for USDT in developing countries is very high because people do trust it.