The highest traded markets .. Know the currency that conquered the composition of the famous?

If you think the world's most widely traded digital currency is Bitcoin, which holds about 70% of the market value of the digital asset world, you are probably wrong.

At a time when it is difficult to get exact figures on volumes in this narrow area of ​​financial services, data from Queen MarketCap shows that the currency with the highest daily and monthly volumes, writes Olga Fall in a report on Bloomberg. It is called tether, and its market value is 30 times lower than Bitcoin.

Althar surpasses Bitcoin
According to the data provider, the trading volume of Al-Tather exceeded the size of Bitcoin for the first time in April, and has continued to rise since early August to about $ 21 billion a day.

Since the monthly trading volume of Alther is 18% higher than Bitcoin, it is arguably the most important currency in cryptocurrencies.

Tether is also one of the main reasons for regulators to be cautious in dealing with cryptocurrencies amid fears of possible market manipulation.

According to Lex Sokolin, co-head of global financial technology at Consensis, a blockchain company, if tether does not exist, we will surely lose an enormous amount of daily trading - about $ 1 billion or more, according to the source.

Some potential market-related factors are likely to begin to decline.

The author pointed out that Al-Tather is considered the most used currency in the world, a category aimed at avoiding price fluctuations by linking them to currencies or reserves.

It also paves the way for the crypto market for most active traders in the world. According to Sokolin, in countries like China, that is, where there is a ban on encrypted exchanges, people can pay in cash for a tether with some questions to be answered.

Cryptocurrency trading
Asian traders account for about 70% of the total trading volume of the cryptocurrency. Alther has been used in 40% and 80% of all transactions in Paynes and Hubei as two of the world's largest stock exchanges, respectively, the writer quoted Aller as saying.

Thaddeus Driga, a Massachusetts Institute of Technology researcher, says many people are unaware they use tether.

In the words of the researcher, since traditional financial institutions worry about their inability to detect criminals and those involved in money laundering, most encrypted exchanges still lack bank accounts and are unable to hold SDR assets on behalf of clients. Drives them to use alther as an alternative.

While Bitcoin does not belong to a specific party, the Hong Kong-based global trading platform Bitfinex is also issuing the tether currency, but the exact mechanism employed to increase or reduce tether supplies remains unclear.

In April, the company disclosed that 74% of Al-Tather's currency was covered by cash and short-term securities, while previously it said it had 100% reserves.

The disclosure was part of a continuing investigation by the New York Attorney General who accused the cryptocurrency companies of covering up a huge financial loss of $ 850 million in client and corporate money.

John Griffin, a professor of finance at the University of Texas at Austin, said half of the bitcoin swaps in 2017 were the result of market manipulation using the Teather currency, and Bloomberg reported last year that the US Justice Department was investigating the role played by the currency.

Interest versus risk
According to Griffin, the control of central parties in cryptocurrencies causes neutrality from the original purpose of these currencies and eliminates their decentralized character.

Bypassing government authorities, stable cryptocurrencies give confidence instead to tech giants with mixed accountability lines.While the idea is fascinating in theory, it is risky, abusive and has problems similar to traditional paper currency.

Although dozens of stable currencies have emerged over the past year and many have been independently scrutinized and regulated, Al-Tather remains a favorite of many.

Aaron Brown, an investor and opinion writer at Bloomberg, said that Alther's currency has been around since 2014 and has a long history of encryption and has been successful in keeping its value. Risks. "