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It's a stablecoin. It's not supposed to move at all!
by tome 4y ago
It's a stablecoin. It's not supposed to move at all!
- edf13 4y agoYes - it is... It's stable - not fixed. The stability of the coin allows for minor flucuation in price - these are then arbitraged out. Today's drop is clearly an indicator of market moves, cash-outs, etc.
- tome 4y agoYes, of course it can move a few basis points, like a money market fund (compare https://www.vanguard.co.uk/professional/product/fund/money-market/9869/sterling-short-term-money-market-fund-institutional-plus-gbp-acc https://www.vanguard.co.uk/professional/product/fund/money-m...). It shouldn't drop by 5% occasionally!