2025-12-30 21:26:21

The stablecoin market has recently stirred up some waves. The key point actually lies in the value fluctuations of USDT—when a large amount of funds are withdrawn from USDT, its price relative to fiat currency drops below $1. In contrast, USDC, due to relatively lower liquidity in Asian markets, is able to maintain its $1 peg.

This has led to an interesting phenomenon: USDT experiencing a negative premium relative to USDC.

Why has USDT been under pressure recently? On one hand, S&P downgraded Tether's credit rating to a weak level, which directly impacts market confidence. On the other hand, regulatory pressures are also continuing to ferment. These factors combined have led to a decline in market acceptance of USDT, with selling pressure following. Simply put, a drop in confidence can trigger price deviations, which is especially sensitive in products like stablecoins.

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MemeKingNFT

· 9h ago

Oops, USDT is about to perform the "Mainland Rise and Fall" script. Once confidence collapses, it drops below $1. This is too sensitive. I've long said that the biggest fear for stablecoins is a reversal of expectations. Now it seems that has been realized. S&P's downgrade really adds insult to injury. It's no wonder market sentiment is so poor. Could the small liquidity of USDC actually be an advantage? That's an interesting logic. By the way, could this round of pressure be a bearish signal from on-chain data... need to keep a close watch. Honestly, it's a confidence game. Once confidence is gone, everything is pointless. I just want to ask, can USDT still stay stable at $1? This concerns too many positions. Wait, could this negative premium be a signal to bottom out? Or are the retail investors' minds getting the better of them again?

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DegenApeSurfer

· 9h ago

How much longer can USDT last? It's really starting to look shaky... The S&P's blow hits the core directly.

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ThesisInvestor

· 9h ago

USDT really took a pretty hard hit this time. Once confidence collapses, everything is over.

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CafeMinor

· 9h ago

Once confidence collapses, stablecoins can't stay stable either. This is the crypto world. To put it simply, USDT is just living off its reputation. Everyone knows about Tether. Is USDC taking the opportunity to buy the dip? But Asian liquidity is indeed a shortcoming. Regulatory pressure plus rating downgrades—double blows—still trying to hold on? That's a pipe dream. It seems there will be continued volatility ahead. This round of market movement is truly a test of genuine faith.

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EthSandwichHero

· 9h ago

The S&P made a really harsh move, directly stabbing Tether in the ribs. But to be honest, USDT has seen quite a few storms over the years. Wait, USDC is actually more stable because of its smaller liquidity? That logic is pretty interesting haha.

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