{"id":39212,"date":"2024-10-09T08:31:42","date_gmt":"2024-10-09T08:31:42","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/tethers-usdt-impacted-by-market-rush-for-chinese-equities\/"},"modified":"2024-10-09T08:31:42","modified_gmt":"2024-10-09T08:31:42","slug":"tethers-usdt-impacted-by-market-rush-for-chinese-equities","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/tethers-usdt-impacted-by-market-rush-for-chinese-equities\/","title":{"rendered":"Tether\u2019s USDT Impacted by Market Rush for Chinese Equities"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Tether\u2019s stablecoin, USDT, has been impacted by the sudden influx of Chinese investors returning to the country\u2019s stock market. According to Bloomberg, since the end of September, USDT has occasionally traded below its typical 1:1 peg to the US dollar, reflecting changing market dynamics.<\/p>\n<h2><strong>USDT Peg Fluctuations Linked to Stock Market Movement<\/strong><\/h2>\n<p>Stablecoins like USDT are usually pegged to the US dollar at a consistent ratio. However, recent reports suggest that the stablecoin\u2019s value has dropped slightly below its dollar peg. This is happening as China\u2019s central bank introduces easing measures to counter a slowing economy. These measures have sparked a surge in Chinese stock prices.<\/p>\n<p>Dessislava Aubert, a senior research analyst at blockchain firm Kaiko, stated that this USDT discount aligns with China\u2019s economic easing, which boosted its stock market. Livio Weng, CEO of Hong Kong-based crypto exchange Hashkey, further commented,<em> \u201cIf the traders are rushing to exchange back into fiat currency, it can be inferred that they are panic buying Chinese stocks.\u201d<\/em><\/p>\n<p>Though China has banned cryptocurrency trading, many citizens still use overseas accounts to trade digital currencies. This makes it challenging to definitively link USDT\u2019s slight discount to Chinese investors. However, peer-to-peer trading data on Binance shows Chinese yuan sellers offering USDT between 6.78 and 6.98 yuan, while the yuan is currently trading at 7.07 per US dollar in traditional markets.<\/p>\n<p>Notably, the Shanghai Composite Index surged 21% between September 23 and September 30, further suggesting heightened demand for fiat currency as stock prices climb.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>5BTC or 111% + 111 Free Spins!<\/strong> <\/p>\n<p>New players only. Exclusive 111% Welcome Bonus + 111 Free Spins<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/tethers-usdt-impacted-by-market-rush-for-chinese-equities\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Tether\u2019s stablecoin, USDT, has been impacted by the sudden influx of Chinese investors returning to the country\u2019s stock market. According to Bloomberg, since the end of September, USDT has occasionally traded below its typical 1:1 peg to the US dollar, reflecting changing market dynamics. USDT Peg [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":39213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/39212"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=39212"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/39212\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/39213"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=39212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=39212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=39212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}