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Sounds right but if there was a general departure from crypto, I don’t expect Phire’s observation that “USDC, TUSD and BUSD, they are indeed drifting slightly h
by nuclearnice1 4y ago
Sounds right but if there was a general departure from crypto, I don’t expect Phire’s observation that “USDC, TUSD and BUSD, they are indeed drifting slightly high” to hold.
- nix0n 4y agoDeparting from crypto is generally done in two steps, first convert from speculative to stable then convert from stable to fiat. If some exchanges are making the second step much harder than the first, then a lot of people attempting to depart crypto could have the effect that we're seeing.
- nuclearnice1 4y agoSounds plausible To elaborate tether is making the switch to dollars harder so people are preferring other stable coins?
- nix0n 4y agoNo, I think the prices are going up because that's where the money gets stuck. People don't want stable coins, or any coins, they want fiat (they got into unstable coins as a way to get more fiat).