Many factors contribute to the current bullish behavior in the cryptocurrency space. The role of importance of Tether should never be ignored, as it may be a major catalyst moving forward.
It is evident that Tether is on a lot of people’s minds.
The Role of Tether in Cryptocurrency
Whether that is a good or bad thing, remains up for debate.
The role of importance of this stablecoin cannot be ignored.
During the 2017 bull run, USDT had a market cap of $400 million and dominated the landscape.
Today, its market cap has increased to over $4.5 billion.
Some traders expect this to play a key role of importance in the current and upcoming bull run for all cryptocurrencies.
How much of a role USDT will play – across the different blockchains it is issued on – will be interesting to observe.
Despite the growth in market cap, a lot of people still dislike Tether and USDT.
Some still hold out hope for a lawsuit bringing the company to its knees, as unlikely as that may seem.
It is also intriguing to note how the “printing” of tethers is seemingly less opposed compared to banks printing helicopter money.
Very curious, considering both approaches are nearly the same thing, but in different industries.
The coming weeks will undoubtedly become very interesting for many different reasons.