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The biggest Stablecoin, Tether, is also struggling (https://coinmarketcap.com/currencies/tether/ https://coinmarketcap.com/currencies/tether/). Their 3 month tr

The biggest Stablecoin, Tether, is also struggling (https://coinmarketcap.com/currencies/tether/ https://coinmarketcap.com/currencies/tether/). Their 3 month trend is clearly downwards.

mike_d 4y ago
That is pure FUD. In the last year there has been less than one tenth of a cent of movement. It is so stable the graph is incredibly zoomed in to show any movement at all.
- ahahahahah 4y ago
  > In the last year there has been less than one tenth of a cent of movement That aged well. Tether hit $0.9935 hours after this comment.
  - jfk13 4y ago
    Looks like it dipped further to $0.9508, before mostly recovering (currently $0.997). Time will tell, I guess.
- dvh 4y ago
  They should sell small amount at 0.5 once a month to normalize the charts
  - sfshaw 4y ago
    Like a periodic stress test to see how quickly things stabilize themselves?
    - FabHK 4y ago
      No, just to change the scale on the vertical axis of the graph when you look at the 3M (or longer) chart.
- throwaway290 4y ago
  Tether's probably the least trustworthy one, known to lie about its USD supply[0][1]. The fact that this crash happened with another coin in my eyes only further clears up that the entire field is quite problematic. [0] https://fortune.com/2021/10/15/tether-crypto-stablecoin-fined-reserves/ https://fortune.com/2021/10/15/tether-crypto-stablecoin-fine... [1] https://www.bloomberg.com/news/features/2021-10-07/crypto-mystery-where-s-the-69-billion-backing-the-stablecoin-tether https://www.bloomberg.com/news/features/2021-10-07/crypto-my...
icelancer 4y ago
I think Tether is a scam but the current price is $0.9998, or $0.0002 off from the peg as a three month low. Calling it "struggling" is overstating things.
graeme 4y ago
That’a actually an interesting trend. Tether consistently had a very wide oscillation for the bull run. Now much smaller, and steadily down. Probably nothing but a definite change in their patterns
eknkc 4y ago
Nah, that chart has a $0.0005 range on its y axis and even there, the value is fairly stable. This is what it looks like if the range is between $0.90 and $1.10: https://link.ekin.dev/zPe9Qq https://link.ekin.dev/zPe9Qq Not saying Tether is the bastion of trust but the data shows exact opposite of what you are implying.
- roenxi 4y ago
  A sound-bite from elsewhere in the comment section is stablecoins having 2 stable values - 1 and 0. In this case, if the peg isn't being maintained that could easily be a sign of heavy stress. Someone is maintaining the peg. If they don't have the power to push from 0.999 to 1.001 then they certainly don't have the power to push from 0.9 to 1.0. I'm sceptical enough of Tether that my opinion isn't interesting, but the trending nature of the slip could easily turn out to be an early warning.

The biggest Stablecoin, Tether, is also struggling (https://coinmarketcap.com/currencies/tether/ https://coinmarketcap.com/currencies/tether/). Their 3 month trend is clearly downwards.

mike_d 4y ago

That is pure FUD. In the last year there has been less than one tenth of a cent of movement. It is so stable the graph is incredibly zoomed in to show any movement at all.

ahahahahah 4y ago
> In the last year there has been less than one tenth of a cent of movement That aged well. Tether hit $0.9935 hours after this comment.
- jfk13 4y ago
  Looks like it dipped further to $0.9508, before mostly recovering (currently $0.997). Time will tell, I guess.
dvh 4y ago
They should sell small amount at 0.5 once a month to normalize the charts
- sfshaw 4y ago
  Like a periodic stress test to see how quickly things stabilize themselves?
  - FabHK 4y ago
    No, just to change the scale on the vertical axis of the graph when you look at the 3M (or longer) chart.
throwaway290 4y ago
Tether's probably the least trustworthy one, known to lie about its USD supply[0][1]. The fact that this crash happened with another coin in my eyes only further clears up that the entire field is quite problematic. [0] https://fortune.com/2021/10/15/tether-crypto-stablecoin-fined-reserves/ https://fortune.com/2021/10/15/tether-crypto-stablecoin-fine... [1] https://www.bloomberg.com/news/features/2021-10-07/crypto-mystery-where-s-the-69-billion-backing-the-stablecoin-tether https://www.bloomberg.com/news/features/2021-10-07/crypto-my...

icelancer 4y ago

I think Tether is a scam but the current price is $0.9998, or $0.0002 off from the peg as a three month low. Calling it "struggling" is overstating things.

graeme 4y ago

That’a actually an interesting trend. Tether consistently had a very wide oscillation for the bull run. Now much smaller, and steadily down. Probably nothing but a definite change in their patterns

eknkc 4y ago

Nah, that chart has a $0.0005 range on its y axis and even there, the value is fairly stable. This is what it looks like if the range is between $0.90 and $1.10: https://link.ekin.dev/zPe9Qq https://link.ekin.dev/zPe9Qq Not saying Tether is the bastion of trust but the data shows exact opposite of what you are implying.

roenxi 4y ago
A sound-bite from elsewhere in the comment section is stablecoins having 2 stable values - 1 and 0. In this case, if the peg isn't being maintained that could easily be a sign of heavy stress. Someone is maintaining the peg. If they don't have the power to push from 0.999 to 1.001 then they certainly don't have the power to push from 0.9 to 1.0. I'm sceptical enough of Tether that my opinion isn't interesting, but the trending nature of the slip could easily turn out to be an early warning.