Well all stable coins pegged to the us dollar are under real pressure.
why is this?
all us citizens are allowed to buy $10000 worth of i bonds every year.
330,000,000 x 10,000 is a big pool of possible cash.
3,300,000,000,000 this is 3.3 trillion pot of cash possible every year .
normally I bonds were paying low interest. 1 or 2 or 3%. so while they are perfectly stable and pegged to the usd rates sucked.
but now buy
1500 get 9.62% for six months say april 1 to oct 1
1500 get 9.62% for six months say may 1 to nov 1
so on and so forth this means a ton of money leaves crypto and goes to 9.62% coins
especially stable coins which are known to crash and burn and don’t pay a lot more than 10% in any case.
the few that did crashed out badly.
So I think binance knows many stable coins are in a lot of trouble 😈 so I hope to see more coins pegged to the USD suffer due to these high interest I bonds.