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'Other stable coins are not serious contenders at this stage:' High speed traders don't see an alternative to Tether
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Quick Take
- It is surprising that the ongoing Tether-NYAG dispute did not reflect significantly on the price of tether over the past week, two crypto trading firm executives told The Block
- There are not many opportunities to short tethers at the moment, because a lot of institutional investors are unwilling to lend tethers out due to high risk
- Given the popularity of tethers, no other stablecoins in the market can substitute tethers in the near future
The Tether shake-up is bad, but investors really don’t have many other stablecoin options. This is the consensus reached by two cryptocurrency trading firm executives, B2C2 Founder Max Boonen and DV Chain CFO Paul Bialobrzewski, in separate interviews with The Block. To them, the price trend of tethers, the stablecoins issued by the company of […]
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