You sure you have the right thread? This thread was about marketing and then you mentioned USDT being the cause of low volume and posted a screenshot of Binance.
It is funny how you avoid the answer. The bottomline is there will be HUGE DUMP when there are BTC pairs and still NO VOLUME. And the main reason of this will be absence of USDT. No marketing will help here.
If there is going to be a huge dump then sell pretty simple, why be emotional when you know the future? Tether is going through a Trillion dollar lawsuit right now and shady as hell…also it’s literally just USD there is nothing special about it, or I guess you could say it is special since it was the only stable coin worth a dollar but only backed by 75cents. Once people have USDC to park their dollars in it does not matter.
Yeah because when you have real USD who needs a stable coin? If Binance had real USD Tether volume would probably be 0. When people use Nash the stablecoin will be USDC. Do you really think people will refuse to use Nash because USDC is the stablecoin? Who cares what the stable coin is once it doesn’t lose value when I flee to it when the market falls?
And if BTC/USD volume is not going through matching engine? What then? Because 90% of the volume is in BTC/USD or BTC/USDT pairs. Not in BTC/ETH and BTC/alts. What volume can you expect under this condition?
I have to agree with @Moon: I think Tether pairs are the most used amongst stablecoin pairs because they were here first.
Traders just see a temporary shelter when btc/alt markets are tanking, but any stablecoin pair would do the trick. At least that’s how I felt when using USDT.
ok, now tell me: “If you sold your BTC for USDT (90% people did) what will you do when it’s time to buy BTC back? Will you buy BTC directly with your USDT or go and buy USDC and then buy BTC?” You guys don’t want to understand this simple thing: if there’s no most popular stable coin that everybody has - there will be no volume for your exchange.
try to compare these numbers:
USDT 24H $19 476 606 365 USD
USDC 24H $224 550 773 USD
USDT - legal uncertainty.
I don’t understand what’s so difficult to understand.
Even Bittrex has USDT. Everything is legal there.
You’re acting like it’s mission impossible to go from BTC to USDC or even USDT>BTC>USDC. Let’s not forget most of the USDT volume is fake anyway.
Yes, it is. If you want to do it on Nash.
It’s not a big deal, if someone is a trader and wants to use Nash where they control their own funds it’s easy to say “on my next trade I will go into USDC and move that to Nash” or they can just send their BTC, this is silly.
The question you need to answer is this: What is the advantage of using USDT over USDC for a trader? Are there any clear advantages or issue with liquidity? I doubt. Also, USDT volume is largely fake. Look at the top 5 exchange with highest USDT volume and tell me if those are not fake volumes. In conclusion, using a stablecoin with good legal standing should be an advantage for Nash rather than the way you are putting it
I have to agree that USDT is not the answer. USDT has high volume on other exchanges (probably because it was their first stable coin), but that doesn’t mean it brings volume to Nash if they would support it in stead of USDC. The volume of the stable coins is exchange related.
Sorry, but it doesn’t make sense at all.
ps @asus78 thank you for renaming the topic
And if both stablecoins are listed USDT always prevails. You can’t ignore that. It’s IMPOSSIBLE to have good volume with USDC as a stablecoin. USDT volume is x44 of USDC
You have to understand that this is the main source of the whole crypto volume. If we can’t have it then we won’t be able to get those large numbers with anything else.
You keep posting this photo of Binance but Binance had USDT listed way before they ever listed USDC so it’s really first mover in that case and in most cases where both are listed. On Nash the first mover will USDC. It’s not like Tether fundamentally has anything special that USDC doesn’t.
I agree with that. But this status quo is telling and it’s not going to change anytime soon. It’s like PC vs MAC. I mean if Nash wants to take some market share it’s a share of BTC/USDC volume (only $266 million) not BTC/USDT ($19 billion). Am I wrong @canesin?
I see it as discussion between two hypothesis:
- “USDT causes trading volume (liquidity) on an exchange”
- “Stable Coins causes trading volume (liquidity) on an exchange”
For myself I’m going with the second one. Stable Coins are used as tool from an exchange an the traders. For them it doesn’t matter if it is called USDT, USDC, apple, banana or any other word you can think about. The important thing is that the coin keeps his value at the same level and that there are enough coins for liquid markets.
This picture is from coinmarketcap about the liquidity of a well known exchange. As you can see USDC/USDT pairing is the most liquid pair over there. It has four times the liquidity of the BTC/USDT pairing.
I guess that is quite enough to support an healthy growth of the nash environment.
This is a whole new topic u guys started here