The stablecoin Tether claims it processed $18.2 trillion in transactions in 2022, more than both Visa and Mastercard. If this number is correct, it proves the market is heavily manipulated. There are almost 4 billion Visa cards in circulation vs. a little over 4.5 million Tether holders. If Tether claims 18-trillion in settlements, that means the average transaction size was almost 4-million. This market is completely fake, and propped up by wash-trading whales.