2Yr·

$USDT (+0.22%) loses the dollar peg

⚠️ Update: after plunging as low as $0.95, things seem to be returning to some normalcy. Or just the calm before the storm?


After the crypto faction has certainly witnessed the drama around $UST (+1.52%) in the last few days, Tether has now been trading below a dollar for a few hours. The dimensions are by far not as huge as with UST, but it started similarly with UST - and currently you can watch the gap grow.


Unlike UST, USDT is not algorithmic. For every USDT there is a real dollar deposited. The only stupid thing is that exactly this is doubted again and again. At the same time, USDT is the most important stablecoin in the crypto environment. If USDT continues to crash, what we have seen in the crypto environment in recent days was just a small dent.


I for one have swapped all stablecoins into euros and only keep UST for gambling. And don't forget, with the Donkey you heard it first 🥕

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Thank you @DonkeyInvestor for always being the first to inform us about such things, best donkey this side of the Bosporus 💪
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Go away...😭
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So who still has Krpyto on the Exchanges should get a hardware wallet very quickly. When USDT bursts there is a real celebration :D
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The depeg is still within the range so far, there have been more than 5% before
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Let's see what happens around 3 pm.
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Now at 50 cent
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Team WallStreetBets is just trying everything... people are shortening like mad just all possible stablecoins
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