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by grapehut 1493 days ago
The large redemptions are what is causing them to be 0.1% off the peg...
2 comments
thebean11 1493 days ago
Or is being 0.1% below peg causing large redemptions? People buying USDT at a discount and redeeming at face value.
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kasey_junk 1493 days ago
Thats why breaking the peg is so bad. Its a visious cycle so both are correct.
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thebean11 1493 days ago
No it's not..people buying in order to redeem brings the price closer to the peg, not further away.
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graeme 1492 days ago
Definitely. But a lot of people have looked at the small depeg and said “it’s not big, and they’ve depegged in the past. What’s the issue?”

It’s seeing the redemptions that show it is significant

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