Today, June 25, the company released the Tether on the market licenzirovanie additional 250 million us dollars USDT. The relevant record appears in the browser Omni Explorer.
You may also notice that the previous “quantitative easing” tokens USDT took a little over a month ago, on may 18. If you look at the graph of BTC/USD, then you may find that immediately after the additional issue, the Tether, bitcoin exchange rate showed a short rise followed by a quite strong fall:
BTC/USD: impact of additional issue of USDT in the middle of may
Currently, there is a similar pattern: after alternating with flat downward trend, there was quite a sharp jump in prices accompanied by rising trading volumes:
BTC/USD: current situation
According to the Creator of Litecoin Charlie Lee, the sudden growth of bitcoin prices it often precedes the release to the market token USDT.
Generally, this has been a precursor of price going up. Tether gets printed when people deposit USD and get USDT to the back. This USDT will then be used to buy crypto. This is similar to someone depositing $250MM to exchanges. Of course, that doesn’t mean they will buy right away. DYOR https://t.co/zg2PEjGohv
— Charlie Lee [LTC⚡] (@SatoshiLite) 25 June 2018 R.
He also notes that additional coins Tether is used to purchase crypto-currencies, which in turn enlivens the market.
“It’s like that to make $250 million on the stock exchange”, — shares thoughts Lee.
However, he notes, this does not mean that $250 million will be spent overnight.
ForkLog previously reported that stabilin USDT came in second place by trading volume.