Tether holds more US government debt than Australia, should you be worried? Buyers are stacking up Everlodge tokens prior to launch

According to reports, Tether, a popular stablecoin, now holds a larger amount of US government debt compared to Australia. This raises concerns over possible implications for investors and the crypto space. In other news, on-chain data has revealed huge transaction activity on the Everlodge network. Investors are accumulating large amounts of Everlodge tokens before its launch.

Click Here To Find Out More About The Everlodge (ELDG) Presale

Should you be worried about the debt status of Tether (USDT)?

Tether  is the world’s most popular stablecoin and is the third largest cryptocurrency according to CoinMarketCap. Moreover, it has a market capitalization of $83.1 billion. According to Tether’s latest financial attestation for Q2 2023, the firm has increased its treasury reserve holdings backing USDT  tokens.

On August 1st, Tether published its Q2 attestation from the accounting company, BDO. Notably, the company’s excess reserves have increased by $850 million and are $3.3 billion. Meanwhile, the company holds $72.5 billion in US Treasury Bills. If Tether is ranked as a country, it would be the 22nd largest holder of US debt. 

Tether tops countries like Australia, the UAE, Mexico, Thailand, and The Philippines. While Tether’s significant holdings might seem like a good move, it also raises several concerns. Firstly, it puts Tether in a vulnerable position.

Fluctuations in US debt yields could affect the value of its stablecoin. Also, if the US Treasury recalls its debt, it would affect Tether’s market position and even cause a liquidation issue. Subsequently, this could disrupt the broader cryptocurrency market and investors considering its widespread usage and integration.

Investors going after Everlodge (ELDG) Tokens

While Tether is increasing its US Treasury Bills, investors are also increasing their Everlodge (EGLD) token balances. The project has attracted investors from across the crypto ecosystem with its token presale.

Everlodge (ELDG) will be an innovative blockchain-based property marketplace that will reshape the real estate investment process. The platform is often referred to as “Airbnb meets Web3.” It aims to provide users with a seamless experience to invest, co-own, and generate passive income from high-end properties. 

This new platform will digitize the properties as NFTs and store ownership details and property information within the NFTs’ metadata. Interestingly, Everlodge offers a feature called NFT fractionalization. The NFT representing a property is divided into fragments so low-income investors can buy with as little as $100. 

Everlodge’s ecosystem will offer different features like a marketplace, a lending platform, a launchpad, and a rewards club. The Everlodge token is currently available for sale at only $0.01 per token. However, upon launch and public listing on exchanges, its value will rise to $0.03. As a result, this presents an opportune moment to join the project and amass Everlodge tokens. 

Furthermore, only 480 million out of the total 800 million tokens will be available in the presale phase. Therefore, early participation holds the potential for substantial rewards. ELDG token holders will enjoy benefits like staking rewards, discounts, and free nightly stays in Everlodge properties. 

Find out more about the Everlodge (ELDG) presale today

Website: http://www.everlodge.io/
Telegram: https://t.me/everlodge

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