Just 318 Crypto Addresses Control 80% of Tether | Crypto Craft

  • Just 318 Crypto Addresses Control 80% of Tether

    From bnnbloomberg.ca

    The cryptocurrency world is even more concentrated than most observers probably realize. While large holders of Bitcoin that are commonly referred to as whales own almost a fifth of the largest cryptocurrency, researcher Coin Metrics says the unique identifiers known as addresses show that only about 300 entities control around 80% of Tether, the token that serves as a conduit for trading on many of the world’s largest crypto exchanges. Tether has been at the center of controversy since it was introduced in 2015 as a way to provide liquidity to exchanges because lingering concerns about illegal uses have made it ... (full story)

Comment Options
TwoSense
Aug 7, 2019 7:00pm
Permalink
Tether is bad news. They never did, nor can they prove that it's backed by cash. So holding it at anytime is a dangerous game.

About the 318 crypto addresses, it's got to be brokers. Otherwise, the manipulation by bitcoin whales would mean coordinated efforts that includes timing their buying or selling into and out of Tether. I'm not buying that theory.

The addresses probably belong to the brokers. Traders primarily only use Tether to try and gain more bitcoin. Into Tether when it drops and back to bitcoin for the ride back up. Catch the rallies and stay out of the drops. That's the game. That's what Tether is good for until it's revealed that it's nothing backed by nothing.
Reply
Goat
Aug 7, 2019 6:00pm
Permalink
Tether is a scam, along with all the other securities masquerading as cryptocurrencies. This story proves it.
Reply
vanillaice
Aug 7, 2019 5:34pm
Permalink
Tether is a scary word if you ask me!
Reply
  • Story Stats