Stablecoins have fallen below 6.9 again today. Looking at the foreign exchange rates, the US dollar against the RMB is now quoted at 7.0261. As a result, those holding full positions in stablecoins are all losing money. Some traders jokingly say, it's better to find a job—at least you can preserve your capital. Market sentiment is indeed a bit sluggish.
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StableNomad
· 11h ago
honestly this peg erosion reminds me of UST in May... not financial advice but the correlation coefficient between stablecoin premium/discount and broader market sentiment is getting real ugly rn. smart money already moved out weeks ago, statistically speaking.
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CountdownToBroke
· 11h ago
Wait a moment, holding stablecoins is actually losing money. This mess is really incredible.
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Workers are laughing their heads off; now stablecoins have become negative assets.
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Breaking 6.9 is one thing, but now I have to compare with 7.0261. Who came up with this idea?
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Sluggish? This is not sluggish at all; it's directly cutting off the lifeline.
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Holding all stablecoins now can only be described with two words: abstract.
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No, whenever the exchange rate rises, I lose money. When will this end?
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Some people are really treating stablecoins as insurance. Now they are paying the insurance premiums backwards.
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I'm done. Given how the market looks, doing nothing is actually the way to profit.
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ImpermanentTherapist
· 11h ago
Stablecoins are starting to break their defenses. Is this still called stability? I think it's just paying an IQ tax.
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ContractSurrender
· 11h ago
Damn, did it drop again? Life really is tough, better go find a job.
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0xSoulless
· 11h ago
Stablecoins fell below 6.9 and started to wail, really overacting. Large funds have already exited, and the remaining retail investors are still trying to buy the dip.
Stablecoins have fallen below 6.9 again today. Looking at the foreign exchange rates, the US dollar against the RMB is now quoted at 7.0261. As a result, those holding full positions in stablecoins are all losing money. Some traders jokingly say, it's better to find a job—at least you can preserve your capital. Market sentiment is indeed a bit sluggish.