Tether translated Bitfinex USDT 100 million, causing an increase in BTC


In the night of Wednesday, the company Tether transferred to the account of the exchange Bitfinex another batch USDT from your stock. This time the exchange was moved 100 million USDT.

After a short period of time after that, bitcoin rose sharply to $350, and total market capitalization grew by $12 billion.

According to the service Omni Explorer, this is not the first transaction for the last time: after the market started to fall and the price of bitcoin approached the break of the $6000, Tether made 8 transactions totaling 315 billion USDT. Apparently, therefore, the company is trying to keep bitcoin afloat, and prevent a drop below $6000 as this will result in the discontinuance of a number of miners because of the loss.

As for USDT, capitalization of a token rose to $2.8 billion, which lifted him to 8th place in the top cryptocurrencies.

If you believe the service Omni Explorer, Tether reserve currently amounts to 150 million tokens. This means that if with the further fall of bitcoin, the company will again artificially inflate its price, the resources they have will end quickly and they will again start producing USDT. Given the fact that the activity of the Tether has long been a question for the community, a new stage of emission does not entail anything good.

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