Tether became too big for crypto. good or bad?

[marrcelo]

USDT got so big that now its hard to imagine the crypto market without it. almost every exchange uses it and a lot of traders keep money in USDT between trades.
For traders it made things easier. prices feel more stable and moving money around crypto became much faster and simpler.
But at the same time crypto depends too much on Tether now. if USDT ever collapsed it would probably be a total disaster for the whole market. panic everywhere and huge drops.
Sometimes it feels like crypto cannot live without Tether anymore. both the good and bad side of it.

[Oshosondy]

Sometimes it feels like crypto cannot live without Tether anymore. both the good and bad side of it.

This is not true.

Exchanges makes USDT more relevant because they pair it with other cryptocurrencies, which makes it to be more recognized and the trading volume and marketcap continue to increase fast because of this reason.

But nowadays you can see other coins pairs, most especially the USDC.

Later you will see other pairs that the exchange will promote.

Another thing to take note of is that if there is no more USDT, bitcoin will survive, and that means cryptocurrencies will survive.

[examplens]

USDT got so big that now its hard to imagine the crypto market without it. almost every exchange uses it and a lot of traders keep money in USDT between trades.
For traders it made things easier. prices feel more stable and moving money around crypto became much faster and simpler.
But at the same time crypto depends too much on Tether now. if USDT ever collapsed it would probably be a total disaster for the whole market. panic everywhere and huge drops.
Sometimes it feels like crypto cannot live without Tether anymore. both the good and bad side of it.

Tether is so big that in a year, Circle (USDC) will surpass it. 
If the US decided to launch its own crypto stablecoin currency, Tether, as well as similar stablecoins, would probably become minor.
When following the market, don't just look at the numbers on the CMC because there are deeper reasons behind why something is exactly the way it is.

[samysamy1]

USDT got so big that now its hard to imagine the crypto market without it. almost every exchange uses it and a lot of traders keep money in USDT between trades.
For traders it made things easier. prices feel more stable and moving money around crypto became much faster and simpler.
But at the same time crypto depends too much on Tether now. if USDT ever collapsed it would probably be a total disaster for the whole market. panic everywhere and huge drops.
Sometimes it feels like crypto cannot live without Tether anymore. both the good and bad side of it.

You might be right as this analyses from Coinbureau came out the day after your post https://www.youtube.com/watch?v=oEfoKp-uTzQ Europe’s Plan to Crush Tether

[BitMaxz]

If fiat exists on the trading pairs from crypto exchanges, why not use them? We just don't have any other option but to use tether or other stablecoins when trading.

That's the reason on my mind: if our local currency exists, why not use it to avoid a tether? It's pretty bad they only allow the local currency on the P2P page. Also, I've never tried the USD option on crypto exchanges since I don't have the option to withdraw USD.

Let us just hope that USDT does not collapse in the same way that it has in the past, because that would be a complete disaster that could lead to most of the coins, including Bitcoin, into a massive price drop.