Cryptocurrency is Set for a 10x Price Explosion According to Analysts

Cryptocurrency-Tamadoge, one of the most well-known ERC20 tokens, takes a novel approach by combining meme currency concepts with play-to-earn (P2E) game elements. Simply put, Tamadoge aspires to be the finest meme coin by capitalizing on the “Doge” style’s widespread appeal. 

Due to retail demand, meme coins like Dogecoin and Shiba Inu are expected to see massive price increases in 2020. However, Dogecoin and Shiba Inu were doomed because they were not practical, which is crucial to the success of any venture.

For the time being, investors’ attention is focused on Tamadoge, which is already performing admirably during its presale phase.

Cryptocurrency is Set for a 10x Price Explosion

The TAMA native token, used on the Tamadoge platform, has been selling exceptionally successfully, giving resources for the platform’s continued growth. However, the price of TAMA is increasing with each transaction because there is less of it accessible. It’s primarily because the Tamadoge crew has completed all of their milestones ahead of schedule thus far.

According to crypto analyst Jacob Crypto Bury, TAMA has a high upside potential, which we can also see during the presale process. Assuming the presale is successful, TAMA’s potential for growth and subsequent significant returns on investment is wide open.

Despite the recent downturn in the cryptocurrency market, the popular Play-to-Earn (P2E) platform continues to set new milestones. However, even if the industry as a whole is still picking itself back up after the crash, the success of tokens like TAMA offers us reason to believe that the worst is over. 

The fact that this is still an early-stage project only adds to the impressiveness of the accomplishment.

Tamadoge Nears $14 Million

Tamaverse ecosystem hopes to become a major player in the blockchain gaming industry. Only about 85% of the presale allocation has been sold as of this writing; thus, there is a limited time left for investors to stock up on tokens at a discount before the launch of LBank and Uniswap. 

Each TAMA coin has a new price tag of $0.0275, but the price will increase by 10% to $0.0300 once the initial supply of 100 million is gone. 


The current exchange rate of 36.36 TAMA for 1 USDT will drop to 33.33 TAMA once Tamadoge completes its presale. So far, Tamadoge has already raised $13.7 million and is on its way to achieving the $16 million target. 

Tamadoge 5% Burn on Pet Store

The TAMA price could rise significantly amid Tamadoge’s burn rate of 5% on pet store transactions. The NFT pets and Tamadoge shop are scheduled for release in the fourth quarter of 2022. 

TAMA’s value is predicted to increase as gamers hoard tokens ahead of in-store sales’ 5% burn rate. However, since the presale of Tamadoge generated so much interest, it seems likely that the release of the P2E game will similarly cause a surge in player enthusiasm.



Tether Fails to Calm Jittery Nerves as Short Sellers Circle

Repeated assurances by the backers of Tether, the biggest stablecoin, that the token is backed by ample reserves and working smoothly haven’t been enough to reassure markets. 



A so-called liquidity pool that allows traders to swap between the three biggest stablecoins still shows an elevated supply of Tether, with the token accounting for 65% of the total as of Friday. That’s an indication that investors remain cautious about holding Tether, said Edul Patel, chief executive of crypto investment platform Mudrex. 


USDT is the most widely held and most accessible stablecoin in the world, so it isn’t a surprise that more people hold USDT and have it available to swap for other assets that they want to use for other purposes,” a Tetherspokesperson said in an emailed response to questions from Bloomberg. USDT is the ticker for Tether’s main dollar-based stablecoin. 

On Curve’s 3pool, where traders can swap between Tether, USDC and DAI, Tether’s share of supply stood at 29.9% on May 6, just before TerraUSD started deviating from its peg. That portion jumped as high as 82% on May 12 as the TerraUSD crisis worsened, briefly knocking Tetherfrom its own peg.

While Tether’s share of supply has since declined, it remains far above pre-TerraUSD crisis levels. And it has reversed some of the decrease after the Journal report. The 3pool platform handled about $117 million in trading volume.

Tether has hewed close to its dollar peg since that brief May decoupling and continues to be widely used despite all the questions swirling around it. Over the weekend, for instance, the cost of buying the token with Argentine pesos surged after the nation’s Economy Minister Martin Guzman resigned.Tetherrelies on a reserve of dollars and dollar-equivalent assets to maintain its one-to-one peg with the currency, though the quality of this stockpile has repeatedly been called into question.

Tether files quarterly attestations from a Cayman Islands accounting firm on its holdings, which show that it’s been steadily decreasing its exposure to assets like commercial paper in favor of more liquid instruments like Treasury bills.Bloomberg reported in February that Fir Tree Capital Management was making a substantial short wager on Tether, predicting it could pay off within a year.

Paolo Ardoino


Tether Chief Technology Officer Paolo Ardoino has repeatedly taken to Twitter to reassure markets since TerraUSD cratered. In a 12-part tweet this week, just after the Journal story was published, he said Tetherhas “never failed a redemption” and has cut its commercial paper holdings by roughly $45 billion, adding: “Tetherportfolio is stronger than ever.” 



Tether ‘Transparency Is Needed’ Following Terra’s UST Collapse: Analyst



Alexandre Lores, director of blockchain market research at Quantum Economics, said stablecoin issuers like Tether, the issuer of USDT, the largest of the stablecoins, should be providing external audits of underlying assets.


“I think more transparency is needed in terms of showing what they [Tether] actually hold on the balance sheet,” Lores said on CoinDesk TV’s “First Mover” program.


USDT, which is supposed to be pegged 1:1 with the value of the U.S. dollar, is hosted on blockchains including Bitcoin, Ethereum and Tron. USDT most recently had a $10 billion drop in its circulating supply, placing its market capitalization at just above $73 million, according to CoinGecko.

As questions linger about the feasibility and safety of stablecoins in general, USDT’s issuer has had past regulatory run-ins. In October it was fined for more than $42 million by the Commodity Futures Trading Commission (CFTC) for allegedly violating the Commodity Exchange Act (CEA) and CFTC regulations. According to the CFTC, Tether’s stablecoins were not fully backed at all times. Tether and a sister company also paid an $18.5 million settlement in February 2021 to close an investigation by the New York Attorney General’s office.

Now, as Tether looks to reassure investors while meeting its legal obligations, its latest attestation report, as of March 31, reveals that $286 million of Tether’s assets were being held in non-U.S. Treasury bonds with a maturity of less than 180 days. That revelation was not included in its previous December report.

Lores said Tether’s opaqueness will remain an issue because markets are down and investors are moving to preserve their assets. He said that could change if investors grow more interested in seeking greater profits.

“It’s a short-term change as long as the bear markets continue, which I personally think is going to happen for at least the next year,” Lores said.

He added that backing a stablecoin with a volatile asset makes no sense at all and “as long as they [Tether] have not provided transparent audits of their treasury in real time, it’s going to remain a problem,” he said.



USDT Tether tanks Stablecoin down 5%

Stablecoin USDT Tether is down 5% to $0.95. This is the lowest the stablecoin has hit in the last 2 years. 


Close in the heels of UST de-pegging, USDT Tether too could be de-pegging.  The stablecoin USDT Tether is down 5 per cent, which is the lowest dip on its value in the past 2 years. The stablecoin is now trading at $0.95, as per data from CoinMarketCap, as of 12:50 pm IST on Thursday. 

What is USDT Tether? 

USDT Tether is a stablecoin. It is a cryptocurrency pegged to the US dollar. 

How is Tether pegged to USD? 

The stablecoin is pegged to the USD by maintaining a sum of commercial paper, fiduciary deposits, cash, reserve repo notes, and treasury bills in reserves that is equal in USD value to the number of USDT in circulation. 

Why was USDT created? 

The USDT whitepaper states that the objective of creating USDT was to combine the unrestricted nature of cryptocurrencies, that is to send money between users without a trusted third-party intermediary, with the stable value of the US dollar. 

Why is Tether Crashing? 


Crypto expert and vice president, Research and Strategy at Earth ID, Sharat Chandra, told that, “Volatility in crypto markets is testing the mettle of stablecoins. After non-collateralized algorithmic stablecoin UST, collateralized stablecoin Tether has lost its peg. It’s important to highlight the reserve breakdown of Tether.  Commercial paper and certificates of deposits form a major chunk of USDT reserves followed by cash and bank deposits and reserve repo notes and Money Market Funds. These are not highly liquid assets. In April , Tether’s CTO Paolo Ardoino did promise to reduce  Tether’s holdings of commercial paper from  the current 30 per cent of total reserves.”Chandra further explained: “Decade high inflation and rising interest rates have wreaked havoc on bond and currency markets. The value of assets held by Tether , therefore, has taken a beating in these uncertain times.”Lastly, he pointed out that the US Fed’s “recent Financial Stability Report highlighted that stablecoins are backed by assets that may lose value or become illiquid during stress; hence, they face redemption risks similar to those of prime and tax-exempt MMFs. These vulnerabilities may be exacerbated by a lack of transparency regarding the riskiness and liquidity of assets backing stablecoins.



Tether-Growing Regulatory Pressure on Tether

The growing appeal of stablecoins in the cryptocurrency industry has been leading to increases in regulatory scrutiny. Tether, the leading stablecoin by market valuation, has been attracting much scrutiny. In response, other fiat-pegged currencies have been attempting different approaches to avoid using the banking system altogether.


Tether Is King In Many Ways

When glancing over the stablecoin segment in cryptocurrency, ignoring Tether (USDT) is impossible. It is the world’s leading stablecoin by market capitalization and overall trading volume. At a current market cap of over $80 billion, Tether is only behind Bitcoin (BTC) and Ethereum (ETH) in these rankings. That makes the project more “valuable” than thousands of crypto assets, including Ripple (XRP), Dogecoin (DOGE), Binance Coin (BNB) and many others. 

Additionally, Tether commends the highest trading volume of all stablecoins. With over $45 billion in daily volume — primarily across Bitcoin, Ethereum, USD, and Circle (USDC) pairs — it is a dominant force in the industry. Unfortunately, that success also attracts ample scrutiny, as many people have started to question the company’s operations. More specifically, Tether claims it has the financial reserves to keep the USDT supply at its current level.

The problem here is how there has never been an audit of Tether’s reserves by an independent party. As a result, regulators have begun to pay much closer attention to Tether and how the company operates. The commercial paper reserves held by the company are especially of great interest. Figuring out which reserves the company holds is crucial in determining whether the company needs to be regulated in the future. 

A recent unveiling by Tether of its reserves indicates not all USDT is backed by paper reserves. Instead, other vehicles are used to issue the asset, including bonds, secured loans and cryptocurrency. While the company will commit to a thorough audit in the coming months, many questions remain.  

Not Tether’s First Tangle With Controversy

Since its inception in 2014, Tether has been at the forefront of attention and speculation. The project, formerly known as Real coin, initially promised that every Tether would be back 1-to-1 by traditional currency. That changed in 2019, when the company rephrased it to “100% backed by our reserves, including traditional currency.” Moreover, there is a mention of “including assets and receivables from loans made by Tether to third parties and affiliates entities.”

That latter part stirred much controversy, as there has been wild speculation as to how the same people run Bitfinex and Tether. While they are separate business entities, there is a significant overlap in personnel per the Paradise Papers. To this date, Bitfinex and Tether claim they operate independently from one another. 

Tether’s dominant position has not changed despite these tussles and increasing regulatory scrutiny. There is no shortage of alternative stablecoins either, including USDC, BUSD, UST, DAI, FRAX, TUSD, USDP, etc. Most of these stablecoins pursue a similar strategy to Tether: Keep funds in a bank account to issue digital assets pegged to the U.S. Dollar. However, there are alternative options that may continue to build momentum. 

Creating Different Types of Stablecoins

Besides fiat-backed stablecoins, developers have shown an appetite for experimenting with other concepts. The first solution is a commodity-backed stablecoin, relying on interchangeable assets, including precious metals, real estate, oil, etc. While it lets holders exercise ownership over real-world assets, it is not a very popular option among crypto enthusiasts today. The best-known commodity-backed stablecoin is Digix Gold, commanding a market cap of just under $1.3 million. 

A second option comes in the form of crypto-backed stablecoins. It may seem unusual to issue a stablecoin tied to the most volatile assets in the world. However, such assets are also trustless and provide better transparency, even if they may require over-collateralization. Several such assets exist, including DAI, Wrapped Bitcoin, etc. These currencies do not necessarily represent the value of $1, but that of the underlying asset.

The last option is algorithmic stablecoins. Unlike any of the above, these currencies do not require assets to provide value. Instead, they use an algorithm to control the supply and its “peg” to $1. If demand rises, the supply goes up to bring the price back to normal. When the demand dwindles, outstanding coins are purchased back from the market to reduce the circulating supply. 

Growing Demand For Tether Alternatives

Regardless of how the stablecoin is issued, a demand for alternative currencies to Tether’s USDT is inevitable. The fiat-backed approach remains popular for USDC and BUSD, with market caps of $52.7 billion and $17.7 billion. However, there is a strong increase in circulation for TerraUSD (UST), a currency that leverages an algorithmic peg. Users can swap $1 worth of LUNA – Terra’s native currency – for 1 UST and vice versa at all times. Its market cap has risen from $1.7 billion to $15.5 billion in the past year, confirming strong demand.