The "war of stable coins" has begun again: opinion

The large-scale sale of a stable coin from Tether suggests that the "stablecoin war" has returned. This conclusion was made by analysts of the Kaiko organization.

What the experts say

Experts noted that there was an imbalance last week of the main USDT pool-USDC, which runs on the third version of Uniswap, as well as 3pool, which runs on Curve. The reason was that the sale of USDT intensified. In reality, this trend began in mid-July. At that moment, the largest decentralized crypto exchange was able to sell 100 million stable Tether coins/

At the same time, net sales have fallen significantly since July 22. However, by the 31st it had grown. It happened literally the next day, after Curve was hacked. However, Kaiko analysts have not yet linked these incidents.

Experts also reported that centralized sites have recently seen a drop in USDT in relation to its peg to the US dollar. For example, on the Binance, USDT cost 0.99 US dollars today.

Analysts believe that traders are not going to abandon the stable USDT coin yet. On the contrary, the company showed a net profit of $ 850 million for the second quarter.

The GRIN4 ecosystem

We have created a bot to make money on crypto exchanges. You set the settings, and he trades 24/7. Manage all assets from one service: with your own hands or with the help of algorithmic trading. Anonymously. Simply. Stress-free.