Alert! Tether's New Tool Could Trigger New Regulations, What's the Fate of USDT/IDR?

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Bittime - Tether is a leading stablecoin issuer, just launched a recovery tool to move their USDT between blockchains if one of the blockchains it operates on becomes unresponsive. This will certainly have an impact on the USDT exchange rate against Rupiah (IDR).

Tether announced the launch of this blockchain recovery tool on March 4 to ensure stable access to USDT in the event of a disruption to one of the several blockchain networks used for USDT transactions.

According to data from Tether, as of March 4, Tether (USDT) is on 14 blockchains, including Tron, Ethereum, Solana, Avalanche, and Omni. Tron and Ethereum are the two largest blockchains for USDT, holding 51% and 43% of all USDT issued respectively.

Impact of USDT on Rupiah

The USDT/IDR exchange rate is currently around IDR 15,800. The launch of this recovery tool could impact the USDT/IDR exchange rate in several ways:

Improve USDT stability

This recovery tool can help improve USDT stability by reducing the risk of an unresponsive blockchain. This may attract more users and investors to USDT, which may increase demand for USDT and push the USDT/IDR exchange rate up.

Increase trading volume

This recovery tool can help increase USDT trading volume by making inter-blockchain USDT transfers easier and more efficient. This can increase demand for USDT and push the USDT/IDR exchange rate up.

Increases regulatory risk

These recovery tools could attract the attention of regulators, which could increase regulatory risks for USDT. This may cause a decrease in demand for USDT and push the USDT/IDR exchange rate down.

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USDT/IDR Tether Price Today on Bittime

Source: Bittime.com

On March 05, 2024, the price of Tether (USDT) was at IDR 15,823 per coin, an increase of 0.18% in 24 hours.

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Conclusion

The launch of the Tether recovery tool is a positive development for USDT and could have a positive impact on the USDT/IDR exchange rate. However, it is important to note that there are still some risks that could affect the USDT/IDR exchange rate in the future.

How to Buy Tether (USDT) on Bittime

You can buy and sell  Tether (USDT)  in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.  

Tether (USDT)  is available on Bittime with  the USDT/IDR market pair . To be able to buy  USDT/IDR  at Bittime,  make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.  

Learn  the complete guide on how to buy Tether (USDT) on Bittime . 

Monitor price chart movements  of Tether (USDT) , Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.  

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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.