Excerpts from CareYourPresent – a crypto enthusiast
Stablecoins stability – Cornerstone of Crypto
Stablecoins are like cash equivalents in Crypto. There are the cornerstone in Crypto and the so called safe heavens in Cryptos. There are many stablecoins in the market.
The more prominent “collateral backed” stablecoins are USDT, USDC, BUSD, TUSD etc. There are many stories, FUD, reports about how much these coins are really backed. No one really know.
Of course there are also other stablecoins such as your Excellency Justin USDD algo-stable coins and the famous collapsed UST etc.
Market Capitalization of Stablecoins
Let’s look at the top 1o stablecoins in term of MarketCap.
Currently in terms of Marketcap, the biggest stablecoin is USDT. There are many many FUD about USDT. Will USDT really collapse or depegged? If it really collapse, can you imagine what will happened to the other coins, even the “bluechips” coins such as ETH and BTC?
Of course, it may happen or it may not. No one will know for now but there are many prediction and guesses by people. Personally I think it would happen eventually.
For those who have been reading my blogs would have know I am a believer of using Metaphysics and Astrology to predict market movements and of course on top of the usual Fundamental Analysis. Remember the last point of my post on Astrology earlier?
Collapse of USDT?
Astrology and Chinese metaphysics predicted that the 2nd half of the year will be bad, especially after the next eclipse. Would this be the collapse of USDT?
Look at the Marketcap of USDT since May. Would this signify the start of bank run? 80B to 65B Marketcap. In addition, why FTX don’t use USDT as USD?
Recently I saw this CT (see below). Of course many people would say that this is FUD and believe so. It is always FUD unless it really happened.
However, if it really happened, would it be too late for you to run? Think back, did you manage to run Luna/UST when it collapse? How fast was the collapse?
“FUD news” + “Astrology” + General Market Macro signify that 2nd half of the year will be bad. Are you prepared? Or do you believe in the recently rally in Crypto for the past few days? Think through and decide for yourself!
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