Stablecoins: the latest buzzword in cryptoland. Long before the hype, Tether was already reigning as the most utilized USD pegged currency. Surrounded by doubt and controversy, Tether was (and still is) a very hot topic among traders and crypto enthusiasts alike. How is the allegedly 100% USD backed fiat-collateralized coin holding up in today's bear market?
Based on Kaiko's historical trade data, Chainalysis wrote a tremendous report on Tether's explosive growth while others declined, its function as a 'cryptocurrency bank' and its role in low-volume assets pump and dump activity.
Read the full report here: