Now even holding a lot of USDT can lead to losses. USDT is experiencing a crash-like drop, with the OTC price in China falling to 6.92.
Due to the impact of US sanctions, Huione is facing a large-scale run.
Some merchants have had the USDT in their accounts marked as "sensitive assets," making them unusable.
As a result, many merchants have been forced to sell off in the OTC market, causing the USDT price to plummet from 7.2 to 6.9 CNY. At this moment, stablecoins don't seem "stable" at all.
Short-term volatility may continue to intensify, and the window of opportunity for OTC merchants is rapidly narrowing.
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Now even holding a lot of USDT can lead to losses. USDT is experiencing a crash-like drop, with the OTC price in China falling to 6.92.
Due to the impact of US sanctions, Huione is facing a large-scale run.
Some merchants have had the USDT in their accounts marked as "sensitive assets," making them unusable.
As a result, many merchants have been forced to sell off in the OTC market, causing the USDT price to plummet from 7.2 to 6.9 CNY. At this moment, stablecoins don't seem "stable" at all.
Short-term volatility may continue to intensify, and the window of opportunity for OTC merchants is rapidly narrowing.