Why rose Bitcoin. Startup Tether “printed” 100 million tokens


The cost of a digital money rose again after the company has issued a large number of new coins

Tether, the company released 100 million tokens USDT, price of which is tied to the US dollar, according to the Omni Explorer Explorer. The coin used in most trading platforms as a counterpart of the American Fiat currency.

On the night of 22 August, the cost of bitcoin rose sharply to almost $400, it exceeded $6800. The coin is now trading at $6680. During the same period, the total capitalization of the sector increased by $12 billion. The growth of the market coincided with maintenance work at the exchange BitMEX.

In August released the Tether 415 million new coins. The company justifies the issuance of tokens by the increase of interest in digital money, but according to statistics, the trading volume of the cryptocurrency has dropped significantly in 2018, on Coinbase, for example, this figure dropped to 83%.

At the end of June startup Tether published Bank report. It cannot be considered a full-fledged audit, the information it contains in just one particular day. At the moment no one can guarantee that all tokens are fully secured by the U.S. dollar.

More news on cryptocurrency can be found in our telegram channel RBC-Crypto.

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.