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Tether Plays Unfair Game

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The New York Times wrote that Tether is being severely criticized by the crypto-community again. This time, the creators of the cryptodollar are charged with the fact that the USDT is used to influence cryptocurrency price fluctuations. This information was presented by several researchers from the University of Texas.

For example, transaction studies led analysts to conclude that the December wave of 2017, which raised the value of BTC to the top of $20,000, was partly connected to Bitfinex and Tether. Transactions of this network are usually activated during the periods of declines in the cryptocurrency value, which after Bitcoin purchases for USDT provide at least a 50% increase in the price. For other tokens, this figure rises to 64%.

It is likely that the unprecedented growth of the cryptocurrency may be a consequence of actions by just a few whales. Since the end of 2017, Tether repeatedly and constantly fell under suspicion of manipulation. Moreover, it should be noted that every large issue of USDT tokens actively influences the increase in the Bitcoin price.

But the reliable information cannot be provided yet, so we can only refer to popular publications. Even the study by Texas professors was presented to the media somehow differently than for its original purpose.

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