2 September blockchain startup Tether wire 100 million tokens USDT to wallet cryptocurrency exchange Bitfinex to support the exchange rate of the cryptocurrency.
29 and 31 August the company issued 70 million tokens, according to experts, this has led to a rise in the Bitcoin exchange rate above $7,000. The volume of trading in Bitfinex cryptocurrency pair BTC/USDT approximately 54%, so the issue of tokens has an impact on the price of the leading cryptocurrency. Statistics indicate that popularity of trading pairs with Fiat currencies – the share of the Japanese yen accounts for only 12% of total trade, while the tokens USDT – 57%.
According to Coinmarketcap, Bitfinex ahead of Binance exchange trading volume of Bitcoin and is currently the market leader in BTC. This was achieved largely thanks to the company’s Tether, which puts a new token on the account of the exchange. However, cryptologist accuses Tether to manipulate Bitcoin exchange rate, because each transfer USDT account on Bitfinex is accompanied by a rise in koina. A mere coincidence or a deliberate action on the part of Tether? This question has no single answer, it is likely that the release of the new token has an indirect impact on the price of Bitcoin.