Stablecoin Bloodbath

in #bts5 years ago

Many of the "stable" coins have had a hard time remaining stable the past few weeks.

bitUSD on the BitShares platform is the latest casualty. It can't even maintain its peg to Tether and thats pretty bad. It is now trading for a full 30% discount to open.Tether which can be exchanged for actual Tether which can then be exchanged for actual Bitcoin....it all gets confusing but nonetheless, the peg is broken.

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You can see that bitUSD has been trading for a premium to Tether for most of this year so to suddenly reverse in the other direction at a 30% discount is not normal. Although the volume for Tether is fairly small, it is seen in the Bitcoin market as well as Bitcoin is currently trading around $4,727 or about 30% high than on Coinbase.

IFTbXtYL.png

If you want to gamble that the peg will be restored, there is 30% on the table just waiting to be gobbled up.

@matthewwarn

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To open your own BitShares account, click Here
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crazy days... mf

let's fish in the savage river ;)

I'm running low on bait lol

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