Factors Influencing the Tether Exchange Rate (Will Tether Price Rise?)
The Tether exchange rate is influenced by various factors. According to a repor
The Tether exchange rate is influenced by various factors. According to a report by Cryptobriefing, there is often a price difference between Bitcoin and Ethereum. The Tether exchange rate is affected by market sentiment. When volatility increases, it can lead to a premium, thus reducing investors’ enthusiasm for investing in digital currencies. Therefore, if the price rises, there will be more arbitrage opportunities, making people more willing to invest in cryptocurrency rather than traditional financial products. However, since there is currently no stable value storage system in the market that can maintain a relatively balanced price structure, this situation is not always common.
Will Tether Price Rise?
According to Cryptovest, the price of Tether has remained unchanged since its launch in June last year. After May 1st this year, the project resumed its original trading model and only provides deposit and withdrawal services for stablecoins such as USDC, DAI, and GUSD. Since the testing of Tether’s US dollar reserves in late September 2018, the price of Tether has risen by more than 50%. However, in early 2020, when Bitcoin plummeted to around $3,800, Tether also experienced a slight decline. As of the time of writing, it has dropped by 80%. This indicates that many investors are still cautious about cryptocurrency.
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