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Load ze tether fud. I'm no fan of USDT, and don't hold it but the same thing happened in the May 2021 crash. I think it's just the high volume of people selling
by 5350-uiop-1130 4y ago
Load ze tether fud. I'm no fan of USDT, and don't hold it but the same thing happened in the May 2021 crash. I think it's just the high volume of people selling right now cause it to depeg.
I think if it goes too far below you will see the major exchanges go into "maintenance mode" since they're all deeply invested into keeping it alive.
- ryanSrich 4y agoRight. It’s fairly trivial for the exchanges to disallow a sell order for a stable below a certain price. That’s an obvious thing they would do if things start to really spiral here.
- 5350-uiop-1130 4y agoThey did it briefly for UST(erra) at 0.7
- tomerv 4y agoThat's exactly the kind of thing that would cause everyone to lose confidence in a coin.
- ryanSrich 4y agoMore the exchanges imo. Similar to Robinhood halting orders on GameStop.
- eudoxus 4y agoExactly. Its not even like it "technically" depegged. Just because two ppl on the internet happened to agree to trade it for $0.95 instead of $1 on tether.io doesn't mean its value isn't actually $1. Mind you, I'm no fan of USDT, obviously not backed by anything but hopes and dreams, but lets at least be accurate when we shit on things :)