Very few cryptocurrency or blockchain projects make an impact on the scale of Tether and their USDT asset. In the case of this company, the public’s perception is anything but positive, despite how popular its asset has proven to be. New research by Coin Metrics confirms there are enormous Tether whales out there who own over $1m worth of digital dollars. The bigger question is whether these individuals and companies pose any real threat.
Identifying Tether Whales
When a project is marred by controversy as much as Tether is, every snippet of research will be scrutinized along the way. Since its inception in 2015, the company has had a few noteworthy headlines in the media, although most of them have not been all that positive. This new piece of research won’t necessarily do anything to effectively change that situation, albeit it is pertinent to put everything in its correct perspective first and foremost.
As it turns out, there are very few “wallets” which effectively control the current supply of USDT. Roughly 320…