Tether USDt

Terra

<a href="https://en.coin-turk.com/tether-gold-now-accepted-as-payment-on-uquid/" data-wpel-link="internal">Tether</a>&#8216;s (<a href="https://en.coin-turk.com/tethers-usdt-loses-dollar-peg-amidst-curves-3pool-liquidity-imbalance/" data-wpel-link="internal">USDT</a>), the largest stablecoin in the crypto market by market value, experienced a slight decline after losing its dollar peg. This incident happened due to a significant imbalance in one of the best liquidity pools for stablecoin trading in Decentralized Finance (<a href="https://en.coin-turk.com/ripples-cto-critiques-uniswaps-centralization-proposes-enhancements-for-v4-engine/" data-wpel-link="internal">DeFi</a>), Curve&#8217;s 3Pool.
<h2 style="text-align: justify;" id="the-imbalance-in-curve-3pool-hits-usdt">The Imbalance in Curve 3Pool Hits USDT</h2>
For an ideal balance in Curve&#8217;s 3Pool, a rate of 33.33% needs to be maintained for each of the three major stablecoins, USDT, USDC, and DAI. However, USDT&#8217;s share in the pool has risen above 70%. This situation indicates that investors are selling too much USDT for DAI or USDC, resulting in USDT losing its dollar peg and retreating to $0.997.
<img decoding="async" loading="lazy" class="aligncenter wp-image-84673 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/06/usdt-1.png" alt="" width="1378" height="412" srcset="https://en.coin-turk.com/wp-content/uploads/2023/06/usdt-1.png 1378w, https://en.coin-turk.com/wp-content/uploads/2023/06/usdt-1-300x90.png 300w, https://en.coin-turk.com/wp-content/uploads/2023/06/usdt-1-768x230.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/06/usdt-1-1200x359.png 1200w" sizes="(max-width: 1378px) 100vw, 1378px" />
Tether&#8217;s CTO, Paolo Ardoino, commented on the situation, &#8220;The market is indeed tense. All the recent news is pushing large investor groups to exit the crypto market. Tether serves as a gateway for incoming and outgoing liquidity. Therefore, when interest in the crypto market increases, we see entries, and when interest declines, exits are visible. We cannot disregard a direct attack on Tether, as we have seen in 2022.&#8221; Ardoino added that Tether is closely monitoring the situation and will take action when necessary.
<h2 style="text-align: justify;" id="tether-cto-ardoino-the-market-is-really-nervous">Tether CTO Ardoino: The Market is Really Nervous</h2>
The last imbalance in Curve&#8217;s 3Pool occurred in March when the balances of USDC and DAI exceeded 45%. Before that, the balance was upset with the crash of the cryptocurrency exchange, FTX, in November 2022. A similar imbalance was observed during the crash of the Terra ecosystem in May 2022, with USDT losing its dollar peg and making sharp downward movements.
The post <a rel="nofollow" href="https://en.coin-turk.com/tethers-usdt-loses-dollar-peg-amidst-curves-3pool-liquidity-imbalance/" data-wpel-link="internal">Tether&#8217;s USDT Loses Dollar Peg Amidst Curve&#8217;s 3Pool Liquidity Imbalance</a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Tether’s USDT Loses Dollar Peg Amidst Curve’s 3Pool Liquidity Imbalance

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