It's probably because Bitcoin and Ethereum service the altcoin investing market by being the largest pairings by volume and we're seeing less trading right now because of soft market conditions. This is going to change soon, probably in 2018 as we see cross chain capabilities and moving away from Tether as a pegged coin by allowing smooth Fiat conversions. When this happens the transaction volumes for both Bitcoin and Ethereum will likely fall dramatically exposing how little they're actually used in their intended use cases, more specifically Bitcoin.
RE: Bitcoin’s Backlog Nearly Clears, Transactions Reach Lowest Level in Months
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Bitcoin’s Backlog Nearly Clears, Transactions Reach Lowest Level in Months
I could'nt have said it better. With that being said though, what do you think happens with the market when/if Tether goes down?
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I think it would be pretty big on a short to medium term because Tether is what all traders use to trade in and out of crypto. The whole markets volume would be crushed. Hopefully exchanges can onboard proper fiat trading before/if Tether crashes. Bittrex looks to have jumped through the regulatory hoops and plans to do just that very soon.
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