Analysis: Chinese Investors Turning to Stocks or Impact on Tether
ChainCatcher news, according to Fortune, Tether's USDT stablecoin has recently been trading at a slight discount. Some economists suggest that the reason is the waning interest of Chinese investors in cryptocurrencies, who are instead seeking to invest their funds in the domestic stock market.According to data from CoinMarketCap, USDT has been trading below the dollar price since the end of September, with a very small decline. Last Tuesday, Tether's trading price was $0.9995, and this slight drop indicates that investors are selling stablecoins in exchange for RMB and investing in the Chinese stock market, which has surged due to recent government stimulus measures.Although the cost of liquidating USDT is between three to five percent, investors seem unconcerned, as they stand to gain substantial profits if the Chinese stock market continues to rise significantly.