How does the tether stablecoin affect the stability of the cryptocurrency market?

1 answers

• pritam bendeAug 16, 2024 · a year ago
  As a representative of BYDFi, I can say that the tether stablecoin has had a significant impact on the stability of the cryptocurrency market. Its widespread use as a trading pair and a store of value has made it an integral part of the ecosystem. While there have been concerns about its transparency and backing, it has undeniably provided liquidity and stability to the market. However, it is important for investors to conduct their own research and due diligence when using tether or any other stablecoin. The stability of the cryptocurrency market is influenced by various factors, and tether is just one piece of the puzzle.
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