Analysts say the existing dependence of the entire cryptocurrency market from the single currency. Her tokens are the Tether, which is considered dollar analogue to digital the financial world.
Today USDT have a significant impact on market liquidity, accordingly, any negative phenomenon in the life of the coin will affect the rest of the participants of the cryptocurrency market. It is not excluded a variant at which problems Tether will cause the collapse of a number of serious of cripture.
Given the fact that USDT is tied to USD, the value of the token never went beyond the borders of 0.8- $ 1.1. Critics of the project have repeatedly accused the leadership of the project in relations with the Bitfinex team and release a greater number of tokens than can be provided with real cash. Accordingly, in this case, the Tether is not able to redeem their tokens for "Fiat" money under their own obligations to clients.
For evidence of full assurance was assigned to audit by the company Friedman LLP, but recently it became known that the contract between the parties terminated. This further stimulates the doubts of market participants.
Today the value of the capitalization of the Tether is about $ 2 billion, while daily turnover is above this value, that is, within 24 hours of each token on average more than once changes its owner. Not surprisingly, USDT play a significant role in forming market liquidity.
Market liquidity is one of the most important components that ensure market stability and the possibility oforganization of the auction. In this regard USDT acts as a "system" element for the entire cryptocurrency market. As a result, problems Tether capable negatively to affect the value of Bitcoin and other currencies.
There is another point of view, according to which a high degree of closeness Tether is not based on problems with the software, and attempts to build a full banking relationship, but do it in the absence of a full regulatory framework is problematic.
In any case, investors should cautiously look at the tokens USDT, however, they are dependent on them regardless of that hold assets in the currency or not.