15.06.2023 • Просмотров:

A double blow to the cryptocurrency market

By bit.team

Bitcoin fell below $25,000 and the USDT on Curve lost its peg to $1.

Bitcoin, which usually dictates major market trends, has fallen to below $25,000 internationally, which can be attributed to troubling pointers on the global economic stage.

The stable USDT coin temporarily lost its peg to the dollar on the Curve platform, raising concerns about possible risks to holders of stable assets.
Curve 3Pool’s ideal balance should be 33.33% for each of the three stablcoins – USDT, USDC and DAI – but USDT’s balance has increased by more than 70%, causing USDT’s peg to drop to $0.997.
Tether’s technical director, Paolo Ardoino, stated that Tether is ready to buy back any amount, if necessary.

Nevertheless, experts are confident in the near recovery of USDT’s peg to the dollar and believe that Bitcoin’s fall may be a temporary correction after a long period of growth.

The cryptocurrency market has already developed its resilience many times and generated interest from investors.

It is important to watch the development of cryptocurrency market and take appropriate steps to minimize risks and maximize opportunities in this field.