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The peg broke by 10% today for ONE HOUR and it caused pandemonium. If the peg breaks more significantly, it'll be worse.
by VHRanger 5y ago
The peg broke by 10% today for ONE HOUR and it caused pandemonium.
If the peg breaks more significantly, it'll be worse.
- matheusmoreira 5y ago> The peg broke by 10% today for ONE HOUR and it caused pandemonium. Where was this event recorded? Is there a USDT/USD chart somewhere?
- VHRanger 5y agoSure, go to coingecko or livecoinwatch
- SilasX 5y agoIn don’t see it on the CMC chart. https://coinmarketcap.com/currencies/tether/ https://coinmarketcap.com/currencies/tether/
- matheusmoreira 5y agoI don't see it either. 1 USDT = 1 USD ± 0.01.
- gruez 5y agohttps://trade.kraken.com/charts/KRAKEN:USDT-USD https://trade.kraken.com/charts/KRAKEN:USDT-USD
- matheusmoreira 5y agoAn increase in price smaller than one cent? This caused pandemonium?
- mmmmmbop 5y agoSee e.g. here: https://coinmarketcap.com/currencies/tether/ https://coinmarketcap.com/currencies/tether/
- yrral 5y agoThe peg broke because during times when the market is extremely volatile: 1. Exchange deposits/withdrawals are slower and more expensive because of ethereum network congestion 2. Other assets have larger price disparities across exchanges Because of this reason, arbitrageurs have better pairs to arbitrage with their assets during these busy times. Why make 10% on usd/usdt when you can make 15/30% on eth or altcoin price dislocations across exchanges?