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/biz/ - Business & Finance

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2722995 No.2722995 [Reply] [Original]

Why does this have such a huge trading volume? Explain this /biz/, it's far and away the most traded coin compared to its market cap according to coinmarketcap.com???

>> No.2723010

TETHER $100 by December, screencap this

we're gonna make it

>> No.2723019

>>2723010
nice just bought 100k

>> No.2723020
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2723020

>>2722995

Because Poloniex runs a scam wherein they don't offer any fiat and thus defer any runs on their deposits to others.

I suspect Poloniex is insolvent.

>> No.2723024

>>2723010
kek it's funny because it's not impossible. This is a freely traded coin like any other with no real backing

>> No.2723060

>>2723020
Strange shit is afoot, this coin has a market cap of $220,773,286 but the last month saw a trading volume of $2,611,549,792, about 10 times it's actual market cap.

Compared with Ethereum and Bitcoin which both has a healthy 1:1 trade volume to market cap in the last month.

>> No.2723185

>>2723060

Why is that strange? It's high volume is due to the fact people flip back and forth constantly. Little do they know that if there is a major crash like an exchange failure, USDT will not maintain parity with fiat.