Tether Has the Strongest Competitor Now

Tether has been flooded with accusations of manipulation of Bitcoin Price. For those who still do not know what Tether is, just imagine that, instead of buying Bitcoin directly with your fiat, you can buy USDT with your fiat and then but Bitcoin or Ethereum also other altcoins with USDT. Until now, nearly all crypto exchanges has USDT based trading pairs.

The biggest problem for USDT is that it did not accept any kinds of auditing. In other words, the amount of circulating USDT could not be totally matched with some real US dollars reserve somewhere in reality, which will lead to speculations about the real amount of USDT, as a result, raising concerns about the true price of Bitcoin.

These days are over since the birth of GUSD, a new stable coin, with a full name of “Gemini US Dollar”, issued by Winklevoss Gemini Exchange. It is an ERC 20 Token, which means it lives on the Ethereum network, and most importantly, it is well audited.

Below is from the launch announcement:

I believe that this may be the biggest bullish news recently in the absence of an approved Bitcoin ETF, and the market is already reacting to this news with a bull move.

Take all this into account, BitEye would like to list GUSD/ETH trading pair, and will open the GUSD based trading pairs soon.

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