Why does this have such a huge trading volume? Explain this /biz/, it's far and away the most traded coin compared to its market cap according to coinmarketcap.com???
TETHER $100 by December, screencap this
we're gonna make it
>>2723010
nice just bought 100k
>>2722995
Because Poloniex runs a scam wherein they don't offer any fiat and thus defer any runs on their deposits to others.
I suspect Poloniex is insolvent.
>>2723010
kek it's funny because it's not impossible. This is a freely traded coin like any other with no real backing
>>2723020
Strange shit is afoot, this coin has a market cap of $220,773,286 but the last month saw a trading volume of $2,611,549,792, about 10 times it's actual market cap.
Compared with Ethereum and Bitcoin which both has a healthy 1:1 trade volume to market cap in the last month.
>>2723060
Why is that strange? It's high volume is due to the fact people flip back and forth constantly. Little do they know that if there is a major crash like an exchange failure, USDT will not maintain parity with fiat.