Ethereum co-founder and head of the ConsenSys Inc. Joseph Lubin said he doubts the influence pegged to the dollar coins of the Tether on the value of Bitcoin and other cryptocurrencies. According to him, the manipulation of exchange rates, if they occurred, were related to other causes. This writes Cointelegraph.
Based on the study ConsenSys relative to the Tether, we can conclude that the coin is indeed provided the dollar 1 to 1, as stated by its developers. According to Lublin, the manipulation of exchange rates of cryptocurrencies is hardly associated with the coin — the reason for the jumps of the value of the coins at the end of last year were the actions of the major players.
Who is manipulating the prices of cryptocurrencies
I’m not sure that manipulation of the market is directly connected with the Tether, if they had a place to be. Their reason was the lack of regulation of kriptonite, which allowed the major players to do what they want. The community needs to strive to develop operational rules for centralised trading platforms.
The developers of Tether has been accused of manipulating the prices of Bitcoin and the Ethereum. In June, professors of the University of Texas John Griffin and Amin Shams found out that traders used the tokens for the artificial Pampa of Bitcoin prices in 2017.
Previously, Joseph Lubin, said that the cryptocurrency market since 2009 has already gone through six bubbles, each of which was associated with a record growth of individual coins. When they burst, it was a shock to the market, but always lead to a new phase of growth.
To what rate will give the next bullrun? Share your assumptions in cryptodata.
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