Most of teh action is on Bitfinex, using tethers to buy (and tethers arn't real US dollars, they're just another crappy alt) - so there is a bit of fakery going on. Be careful out there people.
People are going nuts on Tether, but they don't realize that the purpose of its existence is gone already, due to it not being able to keep its value at a 1:1 ratio with the USD. That's exactly the reason I never trade with anything that's tied to Tether. That being said, Bitfinex is a shady exchange to begin with, which is another reason to avoid using that centralized garbage. People however don't seem to care and just continue to make use of Bitfinex and Tether, which is a clear sign that their greed has got the better of them -- people eventually will pay the price....