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The Sustainability of Alchemy by Tether

Tether price is a little below the dollar peg today. For this reason, Tether seems to have reduced the issue amount a little. The alchemy cycle may be becoming unstable because the BTC rally is too fast.

MarketCap and Price of Tether from 16 June to 22 June
MarketCap and Price of Tether from 17 June to 23 June

The top of the graph is until June 22, and the bottom is until June 23. Notice that the scale of the price on the green line changes from top to bottom.

However, since Tether is essentially a stable coin backed by BTC, as long as the BTC is at a high level, I think it is unlikely to be a serious situation. I think it’s an interesting phenomenon for those of us who are observing it as an experiment, but I get goose bumps from the fact that billion worth assets are floating around.