According to the latest update from ‘OmniExplorer’ The digital currency Tether “USDT” had previously released its tokens at a price of $1 USD per token worth about 300 Mln’s in July and now on Aug. 11 it has again released its new tokens at worth price $50 Mln’s.
As far considering this month, Tether is not performing well. It has lost around $300 Mln’s from its market capitalisation in just one month.
Currently Tether ‘USDT’ is in the second place after Bitcoin (BTC) in terms of daily high volumes, seeing around $4.2 Bln in every day trades, whereas the average high volume trades for Bitcoin seeks around $5.7 Bln’s.
The value of Bitcoin surged by $300 USD over the course of few time, following a drop to as low as $6,115 USD on last weekend . At this current time, the price of major cryptocurrency seems to be slightly stabilising following the start of this new week. Todays price of Bitcoin at this time of reporting is around $6,509.98 USD.
However, this current scenario of twice releasing Tether tokens this year, is since not clear. In June this year, Tether faced an another criticism following a study that lifted the company into the news again for Bitcoin price manipulation in an unscrupulous way back in year 2017. The study report mentioned clearly company’s patterns on how it had been “using its assets to produce subsidy and manipulate cryptocurrency costs.”