I was scrolling through cmc and I didn't realise until now that tether has the 4th highest market cap at ~$20bn. This feels like a really high risk asset and that's probably reflected in it having a 5x market cap daily trading volume.

It's probably just something to take note of that if it isn't physically backed and we see massive volatile moves then don't trust it to peg the dollar especially if it keeps getting a higher and higher pool of funds that are thought to control it (its a shame a lot of sites use it in futures).