The Currency Analytics
By Maheen Hernandez
Tether has survived the crypto winter. Bitcoin in the past week recorded a bullish reversal from its low at $6,750 to $7,800 in just two days.
Several of the Altcoins are in a disappointing trend, while others are recording slight gains.
One of the tweets read: “5 times the entire Tether supply was traded yesterday Mati Greenspan takes aim at Coin Market Cap figures. CMC says they have a solution.”
Mati Greenspan is not convinced about the current scenario. He opines that a lot of wash trading is happening to the extent of things getting out of hand.
Faking trade volumes is done to inflate the price artificially. CMC has proposed a new metric called ‘liquidity’ to combat wash trading.
Higher liquidity indicates lots of counterparties to trade with and less slippage. A larger order in this scenario affects the price.
Greenspan opines that “The liquidity metric won’t work though,” and he further clarified that bad actors would learn their way around the algorithm, and things will get back to…
However, Dan Matuszewski, now principal and co-founder of CMS Holdings, stated, "I say this as someone who created and redeemed billions of tether over the course of my life and…