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Tether Delisting from EU Exchanges: What It Means for the Crypto Market
The recent announcement of Tether (USDT) delisting from several European Union exchanges has sent shockwaves throughout the cryptocurrency market. While some are panicking, others see this event as a buying opportunity. In this article, we’ll delve into what this means for the crypto market and explore the analyst’s take on the situation.
Firstly, it’s essential to understand that Tether continues to maintain its impressive $138.5 billion market cap and $44 billion in daily trading volume, with an astonishing 80% of its volume originating from Asia. The value of your crypto assets depends solely on the coins or tokens you own, not how you acquired them. So, whether you use USDT, BTC, or fiat money, your assets remain safe in your wallet or on the platform you’re using.
Despite the delisting from EU exchanges, Tether’s market capitalization and trading volume will likely continue to grow. This is because, historically, FUD (fear, uncertainty, and doubt) surrounding Tether has been a sign of buying opportunities. In fact, similar FUD events in the past have seen Bitcoin recover quickly.
Let me give you an example from October 2024 when the US government launched an investigation into Tether’s operations. Following this news, Bitcoin dropped by $2,000, but after Tether’s CEO denied the claims, the market rebounded with a 43% surge in Bitcoin’s price.
These types of events typically occur at either the market’s bottom or during a full-blown bull run. Historically, it is believed that FUD on Tether has been a signal for investors to buy and accumulate more assets.
In this case, the EU delisting may not be as disastrous as some would have you believe. USDT dominance in the stablecoin space is likely to continue, with its market cap and demand expected to rise further.
The analyst concludes that this event will not derail Tether’s long-term success and advises crypto investors to take screenshots of current prices and revisit them in February or March 2025 when most assets are predicted to be trading much higher.
Source: coinpedia.org
