The off-exchange price of USDT continues to decline, widening the gap with the official exchange rate! Will the next step be a collapse?
Recently, there has been a noticeable change in the market: the exchange price of USDT in the domestic market has dropped to around 7.0 RMB, while the bank's dollar exchange rate during the same period is about 7.12 yuan. There is a difference of nearly 0.12, which is quite significant recently.
This is directly related to the domestic policy trends. Last week, the central bank, along with multiple departments, reiterated that it will crack down on illegal operations and speculation involving cryptocurrencies. The strength and scope of this statement easily remind people of the round of rectification in the second half of 2021.
In my view, after the release of policy signals, market sentiment has been noticeably affected. Many people choose to reduce their holdings or wait and see, leading to a short-term decline in USDT demand, and the price has also seen a correction. If you are currently paying attention to or holding related assets, it is advisable to keep an eye on the specific implementation of subsequent policies, as short-term fluctuations may continue.
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