Cryptocurrency industry’s largest stablecoin on Tether There was activity today.
popular today morning Uniswap And Curve millions of pools Tether (USDT) sold. This led to early signs of anxiety among traders.
Because Curve protocol USDT, USD Coin (USDC) and DAIUSDT balances at stablecoin swap pool 3pool, consisting of , jumped over 72% earlier this morning.
Under normal circumstances, Curve 3Pool’s ideal percentage of USDT, USDC and DAI should be 33.33% each, but USDT’s balance is over 70%.
This means that investors are selling a lot of USDT for DAI or USDC. This also caused the USDT peg to drop from $1 to $0.997.
Tether CTO Paolo Arduino confirmed the USDT sale on his Twitter account, claiming that some investors were affected by the general selling sentiment in the crypto market, which has been on the decline in the last 24 hours:
“The markets are tense these days, so it’s easy for attackers to take advantage of this general sentiment.
But at Tether we are ready as always. Let them come. We are ready to use any amount.”
Markets are edgy in these days, so it’s easy for attackers to capitalize on this general sentiment.
But at Tether we’re ready as always. Let them come.
We’re ready to redeem any amount.— Paolo Ardoino (@paoloardoino) June 15, 2023
Speaking to The Block, Tether CTO also said, “Recent market events are pushing large investors to exit the crypto markets. Tether is a gateway for inbound and outbound liquidity. Therefore, when interest in crypto grows, we see entries; When the sentiment in the crypto market is negative, we cannot rule out a direct attack on Tether as we saw in 2022.” said.
*Not investment advice.
Source: Bitcoinsistemi.com