Since they deleted it, I will post here:
Is XMR/USD price pumped by Tether?
For the purpose of this post, I will assume the reader knows that Tether/USDT tokens are frequently printed by iFinex, likely out of thin air and without any backing. Furthermore, I believe it's common knowledge that BTC price pumps are fairly closely correlated with USDT printing (most recently, the $3 billion USDT printed last weekend briefly pushed BTC/USD over $70k on Monday morning). I don't have time to debate these points, so feel free to ignore this post if you don't agree.
My question is: does USDT printing also inflate XMR price? Looking at coinmarketcap volume statistics, I notice that XMR/USDT daily volume is currently around $300 million, which is very low compared to the $15 billion BTC/USDT trade volume. For this reason I'd posit that fresh USDT is not used to pump XMR price. And XMR price tends to not rise when USDT is printed.
Generally the pattern looks like this: USDT is randomly printed, BTC price pumps 5-15%, and then over the next few days BTC fiat price stabilizes and other coins rise in fiat price. In my opinion this is traders moving BTC into other coins while the BTC/alt ratio is low. When BTC/USD rises 20%, BTC/XMR drops quite a bit, so XMR/BTC volume increases.
thoughts?
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source https://www.reddit.com/r/btc/comments/qr22b4/is_rmonero_censoring_i_tried_to_post_about_tether/
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