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The Sustainability of Alchemy by Tether

Tweet ThisSend to Facebook | by naoyuki.iwashita
The price of Tether is a little below the dollar peg today. For this reason, Tether seems to have reduced the issue amount a little. The alchemy cycle may be becoming unstable because the BTC rally is too fast.

MarketCap and Price of Tether ,from 17 June to 23 June

However, since Tether is essentially a stable coin backed by BTC, as long as the BTC is at a high level, I think it is unlikely to be a serious situation. I think it’s an interesting phenomenon for those of us who are observing it as an experiment, but I get goose bumps from the fact that billion worth assets are floating around.
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