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USDT Tether Holding Strong Despite Loud Controversies

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Thu, 05/02/2019 - 12:22
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Tether doesn’t seem to be affected by the most recent controversy with its price sitting at $1.00. The seventh biggest cryptocurrency by market capitalization was expected to lose its peg to the US dollar.

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Tether gets under fire

As reported by U.Today, Tether’s lawyer admitted that only 74 percent of the total USDT circulating supply is backed by fiat or fiat equivalents, which puts the biggest stablecoin issuer in a serious predicament. That news came right after Bitfinex was accused of pulling off an $850 mln Tether cover-up.

Some industry influencers suggested that the whole debacle surrounding Tether could be an elaborate plan to tank the USDT price and buy the token back at a discount. The day the Tether-Bitfinex news took the market by storm, Paxos Standard, another popular stablecoin, saw a great demand, and USDT was the only dollar-pegged cryptocurrency that was trading below the $1.00 mark.

Must Read
Tether Provides Update, Admitting USDT Is Not 100% USD-Backed - READ MORE

Not losing its peg

However, Tether has managed to rebound, and the cryptocurrency remains pegged to USD even though there is an opulence of other stablecoins in the market. While many expected that Tether would lose its peg (like it did in November due to its banking problems), it never happened.

At the time of writing this article, the flagship stablecoin is as stable as ever with its price sitting at $1.00, according to the data provided by CoinMarketCap. With that being said, there is a huge gray cloud of uncertainty hovering over USDT now that a sizeable amount of its supply is not backed by its cash reserves.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Gamblers Are Driving Force Behind dApps Growth: 2019 H1 DappReview Report         

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Sun, 07/14/2019 - 15:00
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  • It appears that many cryptocurrency enthusiasts are willing to roll the dice

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The recently published report by DappReview encompasses everything related to the growth of decentralized applications (dApps) in the first half of 2019. When it comes to the most popular category of dApps, gambling ones appear to be in the lead by a big margin.

Upping the ante

The “Casino” category has the biggest chunk of the pie with 606 newly created dApps. For comparison, there are only 398 gaming dApps, which occupy second spot. “High-risk” dApps are trailing behind the gaming ones with 358 newly created apps.  

DappReview explains that the main reason behind their popularity is that they are relatively cheap and easy to create, but, nonetheless, they generate great returns for their developers. 

On top of that, there doesn’t seem to be a shortage of risk-loving crypto enthusiasts. 

dApps are doing just fine

Overall, the report points out that rapid growth has become a new trend in the dApps department. More than 1,114 dApps have been already created this year. Tron boasts the biggest amount of newly created dApps while Ethereum and EOS come in second and third places respectively.

Notably, only one percent of users tried more than ten dApps, but they are responsible for the lion’s share of the total transactions on each of the aforementioned networks.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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