Just like the title says , tether has been floating at .99 USD for over 30 days only touching the stable $1.00 USD here and there before going back down. What is this a sign of? Is it just the heavy selling pressure keeping it there? Why are other stablecoins still pegged 1.00USD ? Why is nobody really talking about it ? Seems like a good arbitrage opportunity, but I’m sure something deeper lies. I know there’s a lot of concern about tether, so I wanna ask something , would you rather tether fall now to get it over with or do hope tether will sometime calm everyone with evidence and proof of a full backing of their usdt?
USDt/USD 0.99883
Wouldn’t call that depegging
It means it’s being traded with the biggest single value transactions of the stablecoins. If I want to move something worth $1 billion at $0.98, you can bet it will depeg at once to that value.
Isn’t it normal breathing with a market cap like this?
I think the risk outweighs the potential 1% arbitrage reward for me.
Where are you looking at the value? You can redeem 1:1 directly from tether
I don’t know what could happen but I’m not investing in Tether. Imagine investing on a stable coin and still losing money
Yeah some exchanges have dif showings.
There are a lot of factors that go into why.
Not much opportunity since the price difference isn’t that big unless u’ll be buying in 6-7 digits
I don’t think it matters because else we would have seen some form of arbitrage oppurtunity happen. Since you are trading USDT against other stablecoins, it is bound to not be at 1$ most of the time. If it goes below 0.95$ for extended time then we have something concerning
The charts may show it as slightly below with minor fluctuations but exchanges wont allow you to buy or sell it at anything less than exactly a dollar. I know lots of the Tether fud has been legit concerning for years, but people sold SO much recently and it stayed strong.
$0.99 is stable in my mind. It always goes from $0.99 to $1 abs change
To this day Tether never lost it’s peg. It could be trading for $0.10 at exchanges, as long as Tether (the company) still gives you a dollar for every USDT then literally nothing happened with it’s peg.
Price on exchange doesn’t matter. Learn more about stablecoins before trying to create FUD.
Technically, if I had a million dollars, I could make bank just daytrading
People need to understand almost 80% or something like that of Bitcoin volume is in tether. So when there is a huge dip. People will use tether to buy hence the huge drop offs in MC or other parts.
When you buy say tether with Fiat. Your selling your Fiat for that tether.
Same concept goes with BTC to tether. When people buy BTC with tether…they are selling tether for BTC.
I am not worried about Tether even I don’t like it. I read they are going to try go full transparent this year.
Idk man, it’s 0.999 in binance, it’s close enough to 1$ taking into account slippage. Most stables are not even close to USDT stability.
The moment other coins crashed, it’s not so scary!
99% more stable than 99% of the rest of the crypto market… that’s why it’s a stablecoin.
Considering they lost, what, 30 billion in liquidity? I think they are doing pretty good.