USDT PRICES IN THE MARKET. | Bitcointalksearch.org

South Park

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Quote from: minairia3 on August 12, 2022, 01:38:31 AM

Quote from: Johnyz on August 11, 2022, 04:32:45 PM

Many losses their trust to stablecoins since the LUNA incident, and with that USDT going back into a $1 price it doesn’t tell about the trust of the public, but of course it tells about the market is getting better. What’s scary here is that, if a supposed stablecoins becomes more volatile, then we might see more people to panic. USDT should stat at the price of $1, or else many will lose their trust again.

You need to distinguish that UST and USDT are not the same thing at all, UST is an algorithmically stable coin backed by other cryptocurrencies, so it will crash when the market drops, while USDT is also backed by USD and some other assets like bonds...
The collapse of UST caused panic but the stable coin market is still very active, many blockchains are making their own stable coins, despite the recent collapse of UST.
https://decrypt.co/104642/defi-aave-stablecoin-gho

The way UST and USDT works are completely different, which is why the UST collapsed while the USDT coin is still around, however we still need to be careful, over the years there have been many accusations that at some point in time USDT was not backed one to one with dollars, and while this may not seem to be a problem for most as long as that is not the case now, to me it is a big problem because if that could happen at any point in time then there is a chance that it will happen again in the future.

adaseb

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There were a few hours during that Luna collapse where it traded maybe >5% difference between the $1 value. However it was mostly due to fear that USDT was similar to UST however its completely untrue.

Usually it always trades with a slight premium or discount, it always did. However the discount is so little you can't even arbitage it. So it is pretty liquid and stable in my opinion. There is just too much tether FUD out there.

bittick

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Quote from: terciduk123 on August 11, 2022, 08:32:00 PM

Quote from: Kalson9 on August 02, 2022, 05:36:26 PM

USDT (tether has totally regained his dollar peg after over 2 months of trading below $1 .It lost its peg after LUNA's collapse ,when it came down to $0.97 and it was sold at FIAT or other stablecoins.
So saying saying that USDT has regained its peg , we can see traders trusting the market and it will bring more capital injections into BTC ,ETH and alts ,which are likely reaching new mid term high until the end of the year.

So far USDT is still the mainstay of my stablecoin, to protect the value of assets from price fluctuations I only use BUSD and USDT, because in my opinion they are the safest. As for price fluctuations that are sometimes less than $1 USD, they are temporary for a number of reasons which differ in each situation. the thing that makes me feel safe is :

USDT
Every Tether token is 100% backed by our (theter) reserves, which includes traditional currency and cash equivalents, and may include other assets and receivables from loans made by Tether to third parties.

BUSD
BUSD is 100% backed by reserves held in either or both fiat cash in dedicated omnibus accounts at insured U.S. banks1 and/or U.S. Treasury bills (including through repurchase agreements and/or money-market funds invested in U.S. Treasury bills).

BUSD and USDC were almost the same caused by both already created by the same provider and both already approved by newyork regulators. This means if both already regulated and approved by regulators unlike USDT which was not safe and it's also not transparent with how much reserved funds available to backed its stable token. that's why regulators are always having questions about USDT.

GelatikKembar

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Quote from: Kalson9 on August 02, 2022, 05:36:26 PM

USDT (tether has totally regained his dollar peg after over 2 months of trading below $1 .It lost its peg after LUNA's collapse ,when it came down to $0.97 and it was sold at FIAT or other stablecoins.
So saying saying that USDT has regained its peg , we can see traders trusting the market and it will bring more capital injections into BTC ,ETH and alts ,which are likely reaching new mid term high until the end of the year.

if you compare USDT with UST, it is clearly very different. USDT is made with stable authenticity of coins,
and USDT is fixed based on USD, more marketcap than UST and USDT there is no project that breaks coin stable algorithm,
we know UST incident scares traders back to stable coin, but I recommend not to be in stable coin by project, such as USDN

minairia3

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Quote from: Johnyz on August 11, 2022, 04:32:45 PM

Many losses their trust to stablecoins since the LUNA incident, and with that USDT going back into a $1 price it doesn’t tell about the trust of the public, but of course it tells about the market is getting better. What’s scary here is that, if a supposed stablecoins becomes more volatile, then we might see more people to panic. USDT should stat at the price of $1, or else many will lose their trust again.

You need to distinguish that UST and USDT are not the same thing at all, UST is an algorithmically stable coin backed by other cryptocurrencies, so it will crash when the market drops, while USDT is also backed by USD and some other assets like bonds...
The collapse of UST caused panic but the stable coin market is still very active, many blockchains are making their own stable coins, despite the recent collapse of UST.
https://decrypt.co/104642/defi-aave-stablecoin-gho

terciduk123

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Quote from: Kalson9 on August 02, 2022, 05:36:26 PM

USDT (tether has totally regained his dollar peg after over 2 months of trading below $1 .It lost its peg after LUNA's collapse ,when it came down to $0.97 and it was sold at FIAT or other stablecoins.
So saying saying that USDT has regained its peg , we can see traders trusting the market and it will bring more capital injections into BTC ,ETH and alts ,which are likely reaching new mid term high until the end of the year.

So far USDT is still the mainstay of my stablecoin, to protect the value of assets from price fluctuations I only use BUSD and USDT, because in my opinion they are the safest. As for price fluctuations that are sometimes less than $1 USD, they are temporary for a number of reasons which differ in each situation. the thing that makes me feel safe is :

USDT
Every Tether token is 100% backed by our (theter) reserves, which includes traditional currency and cash equivalents, and may include other assets and receivables from loans made by Tether to third parties.

BUSD
BUSD is 100% backed by reserves held in either or both fiat cash in dedicated omnibus accounts at insured U.S. banks1 and/or U.S. Treasury bills (including through repurchase agreements and/or money-market funds invested in U.S. Treasury bills).

WalkerIVIV

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USDT could definitely valued below $1 again if there's massive corrections, even luna's crash temporarily affect the value of USDT, the main reason it could valued below $1 was always the massive corrections.
moreover USDT isn't algorithmic like luna's UST it instead really backed by real money and maybe fraction of it, and the rest mostly are really commodities so it's different case with UST, these kind of tokens similar with USDT will eventually regain its value since they have the liquidity.

Johnyz

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Many losses their trust to stablecoins since the LUNA incident, and with that USDT going back into a $1 price it doesn’t tell about the trust of the public, but of course it tells about the market is getting better. What’s scary here is that, if a supposed stablecoins becomes more volatile, then we might see more people to panic. USDT should stat at the price of $1, or else many will lose their trust again.

South Park

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Quote from: ?? on ??

Quote from: Ararbermas on August 05, 2022, 10:02:38 AM

Quote from: GreatArkansas on August 02, 2022, 08:44:31 PM

The trust of people is still in USDT, market capitalization is the proof. What I also observed is when there is a high volatility on Bitcoin/Ethereum this is the time the price of stablecoins such as USDT/USDC is affected, and they fluctuate too. So for me, I'm still comfortable using USDT.

usdt is the main stable currency in the market even before,

There's no main stable currency in the crypto. All of stable tokens were the same. There's no different between any stable token. These stable tokens backed by the same fiat money but the only thing make those different were developers and transparency.
Stable token didn't give huge impact to the crypto price. The collapse of stable token may give the different impact as most of people are holding stable tokens during the bearish market but it's not like what you have said above.

There are some slight differences between stable coins, the majority peg their token to a fiat currency in a one to one ratio and this is the way they hope to achieve stability for their coins, however other stable coins try to achieve that stability with the use of an algorithm, however it would be a mistake to underestimate the importance of stable coins, just the volume of USDT is higher than the volume of bitcoin and ethereum together, so without a doubt there is demand for them and they have positively influenced this market over the years.

Ararbermas

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Quote from: GreatArkansas on August 02, 2022, 08:44:31 PM

The trust of people is still in USDT, market capitalization is the proof. What I also observed is when there is a high volatility on Bitcoin/Ethereum this is the time the price of stablecoins such as USDT/USDC is affected, and they fluctuate too. So for me, I'm still comfortable using USDT.

usdt is the main stable currency in the market even before, so it's not surprising actually why it's affected everytime the crypto is fluctuating especially bitcoin and other crypto that has big market cap or have many holders because they always run and relying in usdt to prevent losses from the fluctuation and yes till now it still very useful and safe, reason people trust USDT as a main option in the space.

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Quote from: Bitcoin_Arena on August 02, 2022, 05:57:12 PM

USDT's "depegged" or "repegging" has nothing to do with people's trust towards Bitcoin or Ether.

Unless it collapses. (I don't think it would ever happen) Then the trust is irrelevant because literally everything would go to ground. Some people would obviously trust them as much as before, but for some people it's about market growth, and that would take a swing like we have not yet seen when the most trusted pegged coin would collapse.

wiss19

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It's a good news especially for those who own tons of usdt because that small up in the usdt value can surely be a big thing to them but I don't think this was the first time usdt drops below a dollar because if we can see even the real dollar is also not really that stable at all times so let us not blame the luna collapse for this but for sure it scared the heck of some usdt and other stable coin hodlers once they saw luna's ust and other algorithmic stable coins collapse.

Trust in the overall crypto market, does not depend on usdt because it's not the main driver of this market but it was bitcoin. Btc did collapse but this also won't mean that crypto market is collapsing or people are fleeing. They know that it was only normal.

yhiaali3

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Certainly, the Luna crash had a very bad negative impact on Crypto and especially Tether, USDT was attacked after Luna and people almost lost their confidence but the problem was overcome, now it can be said that Tether has regained its position in the market and this will have a positive impact on the market Crypto in general, had the opposite happened, it could have led to a catastrophe in the market and loss of confidence in Crypto.

VanDeinsberg12

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It's too early to take such conclusion. People were injecting more money without consider stable token. They were using this as a way to avoid the volatility only. You must also aware that if the peg of stable token is actuallly pegged with the liquidity as well. If there would be a huge sell and this can make a small gap in the price of USDT

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Quote from: South Park on August 04, 2022, 01:45:33 PM

Quote from: Minor Miner on August 03, 2022, 03:37:25 AM

USDT is not the center of the market, temporary price drops will only affect it, if USDT is lost, the market will still be there. It seems that the collapse of UST did not cool the stable coin market, ecosystems have also launched their own stablecoins such as NEAR, CURVE, most recently AaveDAO, the governing body of the Aave Defi has announced the release of a stable coin called GHO. GHO is a decentralized stable coin similar to DAI
https://governance.aave.com/t/introducing-gho/8730

People need to be careful just as we have a great deal of shitcoins trying to imitate bitcoin and ethereum, it seems that now stable coins are going through something similar, and the collapse of UST should still be fresh in the minds of investors and they must avoid all of those new stable coins for the time being, and if they want to protect themselves from the market volatility then they should either get fiat directly or use some of the stable coins which have been part of the market for a very long time.

i am also not very confident with storing your funds via stablecoins. why not just convert it back to fiat if you will just hold it via stablecoin? at least for sure, you know, you will have the money at the end of the day. if it is with stablecoin, it depends on the platform itself, it can easily go down if the team behind it suddenly decide to get out of the market. we can never be sure what's the plan of the team behind these stablecoins. the collapse of UST may not be the last one in this market.

South Park

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Quote from: Minor Miner on August 03, 2022, 03:37:25 AM

USDT is not the center of the market, temporary price drops will only affect it, if USDT is lost, the market will still be there. It seems that the collapse of UST did not cool the stable coin market, ecosystems have also launched their own stablecoins such as NEAR, CURVE, most recently AaveDAO, the governing body of the Aave Defi has announced the release of a stable coin called GHO. GHO is a decentralized stable coin similar to DAI
https://governance.aave.com/t/introducing-gho/8730

People need to be careful just as we have a great deal of shitcoins trying to imitate bitcoin and ethereum, it seems that now stable coins are going through something similar, and the collapse of UST should still be fresh in the minds of investors and they must avoid all of those new stable coins for the time being, and if they want to protect themselves from the market volatility then they should either get fiat directly or use some of the stable coins which have been part of the market for a very long time.

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USDT is not the center of the market, temporary price drops will only affect it, if USDT is lost, the market will still be there. It seems that the collapse of UST did not cool the stable coin market, ecosystems have also launched their own stablecoins such as NEAR, CURVE, most recently AaveDAO, the governing body of the Aave Defi has announced the release of a stable coin called GHO. GHO is a decentralized stable coin similar to DAI
https://governance.aave.com/t/introducing-gho/8730

poodle63

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People can invest in bitcoin and ethereum anytime. The main concern is if the liquidity was also affecting the peg from the stable token to the fiat. The trust by people can come once the market can be even better. it doesn't even need to see USDT to repeg into the fiat value again. it's not how crypto market was working. I think that you shall see that from another perspective as well.

GreatArkansas

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The trust of people is still in USDT, market capitalization is the proof. What I also observed is when there is a high volatility on Bitcoin/Ethereum this is the time the price of stablecoins such as USDT/USDC is affected, and they fluctuate too. So for me, I'm still comfortable using USDT.

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Quote from: Bitcoin_Arena on August 02, 2022, 05:57:12 PM

USDT's "depegged" or "repegging" has nothing to do with people's trust towards Bitcoin or Ether.

Correct, it was about the trust of the people withtin the market in USDT during the Terra-Luna disaster, people having sustancial holdings in USDT were not going to take any chances to find themselves in the same position of those who had Terra, so exchanged their USDT for USDC or BUSD.

Bitcoin had little to do with USDT depegging.

Bitcoin_Arena

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Just asking, was it the first time USDT lost its peg to the US Dollar? If no, then what makes you think this is the last time such a thing happened, and we won't see such an issue again in the near future.

USDT's "depegged" or "repegging" has nothing to do with people's trust towards Bitcoin or Ether.

Kalson9

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USDT (tether has totally regained his dollar peg after over 2 months of trading below $1 .It lost its peg after LUNA's collapse ,when it came down to $0.97 and it was sold at FIAT or other stablecoins.
So saying saying that USDT has regained its peg , we can see traders trusting the market and it will bring more capital injections into BTC ,ETH and alts ,which are likely reaching new mid term high until the end of the year.

Topic: USDT PRICES IN THE MARKET. (Read 235 times)