So Tether seems to have been hanging out at about 0.97 lately ... isn't that a massive problem? If anyone really believe they were worth 1.00 USD we'd be vacuuming up those 3 pennies.
There are lots and lots of stories about individuals losing money in bitcoin and tether, this is one way they do it.
Possibly they’re using their fiat dollars to redeem tethers at a discount? (Or to try and enforce the peg)?
Doesn’t Coinmarketcap use exchanges’ self-reported data? What prevents Bitfinex from wash trading at $1?
Only way to obtain USDT is second hand on exchanges.
I dunno if Tether’s ledger is public or not. I would assume it would have to be for anyone to know how many are in existence.
The ledger doesn’t report the dollar price at which Tethers were bought and sold. The ledger could remain intact while Bitfinex falsifiés the prices of trades.
If you want the price, you need to aggregate the USDT trades across all pairs to get the price.
https://blockmodo.com/quotes/USDT
It moves up and down but it largely comes back to a dollar.