The Death of Tether?: Coinfloor and USD Coin

Datum : 08/01/2019 @ 19h01
Quelle :ADVFN Crypto NewsWire
Name : TetherUS (USDTUSD)
Kurs : 1.00000000  0.00000000 (0.00%) @ 02h02
TetherUS share price Chart

The Death of Tether?: Coinfloor and USD Coin


 

Bitcoin Global News (BGN)

January 08, 2019 -- ADVFN Crypto NewsWire -- As we have said time and time again, 2018 was the year of the Stablecoin. Simultaneously, it also represented the year that Tether ran into the most controversy in its’ history. Despite effectively failing the only attempted audit of its’ cash reserves as well as essentially never being able to maintain a truly stable value, right now, Tether still exists and trading of the often-maligned currency is still supported by certain crypto exchanges.

2019, however, just might be the year that Tether finally loses its’ spot in the top ten cryptocurrencies. Today, the news broke that CoinFloorEX, has separated from its’ parent company CoinFloor which is effectively the oldest peer-to-peer Bitcoin marketplace that is still supported by a crypto exchange.

Reportedly, their aim in doing so is to launch the first Stablecoin derivatives market where interested traders will be able to use their Tether to purchase USD Coin with the expectation of the latter currency giving them a large amount of profit over the long-term.

While, at face value, any sort of derivatives trading is a risky endeavor, keeping Tether is arguably more risky than investing in another, newer, possibly less volatile Stablecoin at this point. Perhaps even more importantly, an argument can be made for CoinFloorEX having an ulterior motive in enabling this sort of trading pair.

In a word, it might kill Tether for good and though some supporters are still around like Bitfinex executives and Bitfinex die hard traders, many would agree that doing so could be very good for the future health of the cryptocurrency markets. At first, we might experience a market-wide crash, simply due to the coin’s powerful market cap, but over the long-term, we might have a lot to gain such as an increase in investor confidence related to how much fraudulent activity is taking place across the greater crypto market. 

All of this, of course, depends on this derivatives market actually giving most of its’ investors a profit and therefore, incentivizing them to move their trust away from Tether for good.

 

 

By: BGN Editorial Staff

TetherUS (COIN:USDTUSD)
Historical Stock Chart

1 Jahr : Von Okt 2018 bis Okt 2019

Click Here for more TetherUS Charts.

TetherUS (COIN:USDTUSD)
Intraday Stock Chart

Heute : Donnerstag 17 Oktober 2019

Click Here for more TetherUS Charts.
Kürzlich von Ihnen besucht
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

Der Markt LS (Lang&Schwarz) wird als Realtime Indikation kostenlos angezeigt und bietet Ihnen außerbörsliche Realtime Aktienkurse in der Zeit von Mo-Fr 08:00 bis 23:00, Samstags 10:00 bis 13:00 und Sonntags an.
NYSE und AMEX Kurse sind um mindestens 20 Minuten zeitverzögert.
Alle weiteren Kurse sind um mindestens 15 Minuten zeitverzögert, sofern nicht anders angegeben.
P: V:de D:20191017 00:15:40