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Tether Hits 2billion USDT in Circulation

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Tether USDT is one of the most controversial cryptocurrency tokens in the market. Tether USDT is a digital token that is an actual representation of the US dollar. Tether developers boast that their cryptocurrency is anchored to real-world currencies and that makes it immune to cryptocurrencies volatilities. As of today Tether supply is over 2billion USDT, Tether rapid increase in supply to 2billion USDT has raised numerous concerns among cryptocurrencies enthusiast where some traders question its financial asset capability to back this rapid supply increase. For every USDT in circulation, it represents One US dollar. Most cryptocurrency investors would prefer the Federal Reserve to take charge over the issuance of the tethered digital tokens contrary to the digital private company “Tether’’.

In the last seven days, Tether has issued 400 Million USDT into the circulation, this steep increase in supply has sparkled out debates among cryptocurrency traders, where some trader’s questions Tether financial capability to support the 2billions Tokens in the Circulation. As of today, Tether has hit a remarkable milestone of 2billion USD in circulation. Tether recently posted on their website that their USDT digital tokens are now available on Ethereum Blockchain.
Most cryptocurrency traders have pointed out that Tether always prints additional token at “convenient” times. When other cryptocurrencies prices plummet to new lows, Tether responds by bringing more tokens to the market than they normally do. When the prices of the other cryptocurrencies such as Bitcoin soars, Tether will issue USDT to maintain the trend going. Many cryptocurrency enthusiasts feel that this as a major conspiracy, since no illegal activity has been reported.

The better part of Tether Recent Remarkable 2billion USDT milestone is yet to be seen, given the bad publicity on Tether company prior to this event, and it is speculated that tether will be given even a bad press after this recent development. However, it is logical to argue out that if tether company triumph by justifiable means, then there no cause for alarm given that Tether’ offers no room for arbitration nor a chance for USDT to appreciate its value because one USDT will always be valued approximately to $1. Although there was a 7 percent discrepancy on Tuesday where tether prices soared to $1.07

About the author

Jason Manolopoulos co-founded Dromeus Capital Group in April 2008 and is the co-CIO of the firm. Jason leads the firm's investment activities is a member of the Firm's Executive and...

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