A Tether is a virtual coin that represents the equivalent of a dollar.
The structure of Tether companies is part of the same holding as Bitfinex.
For almost a year there have been rumors that a Tether might lose its liquidity or not have it at all.
Is Tether a fiction?
I do not think so, because there are large players in the market (Binance, Poloniex, Bittrex) who work with him (for now).
If he were fiction - they would not have become involved in it. Now the tether connects everything and everyone.
As you can guess, this is potentially bad for the reliability of the market - to have a monopolist that can bring everything down if something goes wrong with it.
Therefore, exchanges are taking action. Major players do not want to be dependent on Tether. Therefore, they began to create their stablecoins (PAX).
What happened yesterday (and what caused the Bitcoin impulse)
Option 1 - It was a massive sale of Tether main exchanges and the purchase of other currencies before a major rally.
Option 2 - This is a temporary loss of Tether's liquidity during the transition to interaction with a large bank (rumors that Tether got a partnership with one of the largest banks in the world).
It is difficult to say anything here, because such actions are not public.
Perhaps it was both options or coordinated actions of the exchanges, because they are not even fussing with Bitfinex or going against it.
I think many of you will be interested in this screenshot (not promotion link)
www.screencast.com/t/pbSvIpggS1N3
As you can see, Binance and possibly other players purchased thousands of bitcoins from Bitfinex. Thus, it seems Binance can sell its Tether to the main holder of Bitfinex.
Please post your questions and comments if you know something else!
The structure of Tether companies is part of the same holding as Bitfinex.
For almost a year there have been rumors that a Tether might lose its liquidity or not have it at all.
Is Tether a fiction?
I do not think so, because there are large players in the market (Binance, Poloniex, Bittrex) who work with him (for now).
If he were fiction - they would not have become involved in it. Now the tether connects everything and everyone.
As you can guess, this is potentially bad for the reliability of the market - to have a monopolist that can bring everything down if something goes wrong with it.
Therefore, exchanges are taking action. Major players do not want to be dependent on Tether. Therefore, they began to create their stablecoins (PAX).
What happened yesterday (and what caused the Bitcoin impulse)
Option 1 - It was a massive sale of Tether main exchanges and the purchase of other currencies before a major rally.
Option 2 - This is a temporary loss of Tether's liquidity during the transition to interaction with a large bank (rumors that Tether got a partnership with one of the largest banks in the world).
It is difficult to say anything here, because such actions are not public.
Perhaps it was both options or coordinated actions of the exchanges, because they are not even fussing with Bitfinex or going against it.
I think many of you will be interested in this screenshot (not promotion link)
www.screencast.com/t/pbSvIpggS1N3
As you can see, Binance and possibly other players purchased thousands of bitcoins from Bitfinex. Thus, it seems Binance can sell its Tether to the main holder of Bitfinex.
Please post your questions and comments if you know something else!
Comment:
I need to show you chart of Tether also around 5:00 UTC 15 oct
Comment:
Guys! If someone of you have Pro 3 account - can you post chart in comments by formula: BTCUSDT * USDTUSD. I think this will be a real BTC cost now.
Comment:
This days delta between stablecoins and USD start to growing.
Also as you can see price of BTC very different between Finex/Binance and Coinbase, Bitmex and many others.
Also as you can see price of BTC very different between Finex/Binance and Coinbase, Bitmex and many others.
Comment:
As you can see on this chart we can be now in yellow line first.
Soon we should see some action maybe negative in some time but Im sure that new growing wave of BTC is coming.
Soon we should see some action maybe negative in some time but Im sure that new growing wave of BTC is coming.
Comment:
Well guys, its happening! Binance list BTCPAX and other major coins soon.
support.binance.com/...rticles/360020263451
support.binance.com/...rticles/360020263451
