“Secured” Vietnam the USD cryptocurrency Tether used to support the price of bitcoin during periods of downturn in the market. This assured the researchers of the University of Texas at Austin.

Published by John Griffin and Amin Samson the document States that the increase in the price of bitcoin is largely dependent on the cryptocurrency Tether throughout 2017. So, researchers used “algorithms for the analysis of blockchain data” helped them to come to the conclusion that buying cryptocurrencies for licenzirovanie the US dollar contributed to a significant increase of bitcoin prices.

Thus, the researchers found a steady relationship between the increase in the supply Tether (USDT) and the growth of bitcoin prices.

“Comparison of bitcoin and blockchains Tether allowed us to conclude that in connection with the exchange Bitfinex subjects used the USDT to buy bitcoin in periods of falling prices. This focused on the price support activity successful, as the price of bitcoin is increasing in periods of this kind of intervention”, the study says.

But researchers note that a significant impact on the price of bitcoin enough change Tether deals only 1%.

“Tether is created, moves on Bitfinex, and then slowly into other cryptocurrency exchanges — mostly on Poloniex and Bittrex” — note the Griffin and Shams.

The researchers also emphasize that the tokens Tether, as a rule, are not redeemable by the Issuer:

“… and the only major market where the Tether can be exchanged for the US dollar is the Kraken. However, the proportion of such transactions is small.”

One of the most acute critics of the Tether is an anonymous blogger Bitfinex’ED that in March 2018 has identified a link between the new issue coins and Tether with the rising price of bitcoin and Ethereum. Earlier exchange Bitfinex, which is known to have close ties with the Tether, had threatened to sue the blogger.

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