Tether (USDT), is a stablecoin developed by Tether Limited that has become a significant player in the cryptocurrency field. It provides a stable transactional medium and introduces the concept of stablecoin, which is crucial in a highly volatile market. The project was launched in 2012 and gained prominence in 2015 via Bitfinex. Today, Tether offers several stablecoins, each pegged to different assets.
Maintaining Value and Stability
USDT, often referred to as the digital dollar, aims to maintain a value equivalent to $1.00 USD, asserting that a dollar backs each token in Tether Limited's reserves. The Transparency page of Tether provides insights into the USDT tokens in circulation versus its total reserves, asserting a 1-to-1 pegging with the corresponding fiat currency.
Risk Factors and Considerations
When investing in Tether, it's important to be aware of the potential risks involved. These may include the lack of independent audits, potential delays in redemption and withdrawal, regulatory scrutiny, and market volatility. There is also a possibility that USDT could become de-pegged from its underlying asset, the US dollar, which could impact its value and stability.
The fastest, most convenient way to purchase Tether is to purchase it on ICONOMI. We check Tether live prices on 10+ crypto exchanges and buy it at the best market price.
You can buy Tether by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if Tether is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy Tether, we recommend you read the next section, as copying might be a better approach.
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the “ticker” filter to find out which public Crypto Strategies have Tether in their structure.
Here you can read and comment on all posts made by Strategists about Tether USDT. See all Tether price predictions in real time and make the best use of their crypto knowledge.
Looking at $ETH / $BTC I think we could be finding a bottom here.
This would result in $ETH appreciating in price against $BTC and if Bitcoin does not fall substantially also in $USDT terms.
Because altcoins have had a few rough months I believe buying $ETH beta like Layer 2 solutions or DeFi is the better risk to reward play.
When going to $USDT at the fib resistance I wanted to trade the volatility so had a dabble on rollbit.
This is (almost) pure gambling but the entry was possible thanks to Fibonacci. High leverage even at 50x and your liquidation is up your back side let alone 500x.
Yes you need luck but there are days when well educated guesses and faith in your system pay you for your dedication to it.
Here is one trade for BTC
$BTC short
Entry $61,964
Exit $59,077
$62 bet - $1297 won.
2000% gain.
For the general GoldenFibs fund, still stable and watching for a reversal.
We decided to remove $DYDX from our portfolio which carried a small weight of 2.75% at the time of rebalancing, we've replaced it with the the $USDT stablecoin pending wider portfolio rebalancing.
Main reason for removing this crypto is due to the latest negative news that their website has been compromised, whilst this may turn out to be a small issue, we decided to not take the chance of risking a bigger sell-off.
This now makes $USDT our biggest holding.
Click here to read more $DYDX compromise here.
Quick update on what's been going on in the world of Bitcoin ETFs lately. Things have been pretty busy, with daily net inflows averaging $141 million in the past couple of weeks. Blackrock’s IBIT fund has actually become the biggest one out there now, beating out Grayscale’s GBTC.
Point to note - miners have been putting up a daily sell pressure of $32 million since the halving, but ETFs have been buying over four times the new supply.
In addition to this, stablecoin supplies have shot up to almost $170 billion, which is $30 billion more than last year.
TLDR - Its a waiting game - place your bets and stops accordingly!
Current structure:
$BTC 13.13%
$SOL 11.02%
$FET 9.13%
$RUNE 8.1%
$INJ 6.26%
$DOGE 5.87%
$USDT 4.79%
$TVK 4.17%
$ICP 3.85%
$ATOM 3.76%
$ETH 3.4%
$FTM 2.96%
$RNDR 2.73%
$SHIB 2.67%
$NEAR 1.99%
$JASMY 1.7%
$GRT 1.59%
$AGIX 1.55%
$AR 1.53%
$OCEAN 1.5%
$OSMO 1.38%
$WIF 1.1%
$BONK 1.1%
$FIL 1.04%
$LINK 1.02%
$FRONT 0.93%
$MATIC 0.88%
$RLC 0.85%
