Load ze tether fud. I'm no fan of USDT, and don't hold it but the same thing happened in the May 2021 crash. I think it's just the high volume of people selling right now cause it to depeg.
I think if it goes too far below you will see the major exchanges go into "maintenance mode" since they're all deeply invested into keeping it alive.
Exactly. Its not even like it "technically" depegged. Just because two ppl on the internet happened to agree to trade it for $0.95 instead of $1 on tether.io doesn't mean its value isn't actually $1.
Mind you, I'm no fan of USDT, obviously not backed by anything but hopes and dreams, but lets at least be accurate when we shit on things :)
Right. It’s fairly trivial for the exchanges to disallow a sell order for a stable below a certain price. That’s an obvious thing they would do if things start to really spiral here.
I think if it goes too far below you will see the major exchanges go into "maintenance mode" since they're all deeply invested into keeping it alive.