USDT Also Deppeged From 1-1 (0.9642): Potential Crash Imminent
USDT Also Deppeged From 1-1 (0.9642): Potential Crash Imminent
Author:Liam JonesReviewer:Michael RachalMay 12, 2022223.8K Shares3M Views
Today is one of the first time USDT depegged from USD since 2017 and this might be related to LUNA and UST crash from past few days.
See the chart below, it didn't crash to these level since 4/26/2017, and right now is in free fall.
In the image below we can see how is currently in free fall.
Why Is It Crashing?
Crashing was awaited for long time because tether is being printed at will without being backed up by USD.
“„The fact that they've been minting billions of tether without collateral should make it abundantly obvious that this isn't a stablecoin and never had been. Anyone can pretend to have a peg in the good times, that doesn't mean there's really a peg or that the peg will remain in bad times. And if you can't count on the peg in bad times, it's not a stablecoin. If you've been honestly working on the assumption that it is, then you deserve to lose your (real) money to some crypto VCs on an island somewhere.
Some tweet from yesterday asking an interesting question:
If this happens could crash BTC price further down.
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Liam Jones
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Liam Jones has made it his mission to prove that adventure doesn’t need a hefty budget. Having traveled to over 40 countries, he specializes in finding affordable ways to experience the world, from the best street food in Bangkok to hidden gems in Lisbon.
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Michael Rachal
Reviewer
Michael Rachal believes that luxury lies in the details. With over 20 years of experience in the luxury travel industry, he has crafted hundreds of bespoke itineraries for clients seeking personalized, unforgettable experiences.
Whether guiding clients through private cultural tours or curating culinary journeys with world-renowned chefs, Michael ensures that each trip is tailored to perfection.
His ability to anticipate needs and exceed expectations has earned him a reputation as a leading expert in luxury travel.
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