{"id":490693,"date":"2022-05-17T17:00:49","date_gmt":"2022-05-17T17:00:49","guid":{"rendered":"https:\/\/wncen.com\/?p=490693"},"modified":"2024-06-11T14:19:54","modified_gmt":"2024-06-11T14:19:54","slug":"how-the-tether-peg-could-predict-raging-bitcoin-volatility","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/how-the-tether-peg-could-predict-raging-bitcoin-volatility\/","title":{"rendered":"How The Tether Peg Could Predict Raging Bitcoin Volatility"},"content":{"rendered":"

The whole UST debacle has seen traders emboldened in the market against stablecoins. The result of this had been more investors going after the pegs of other stablecoins such as USDT and trying to see if they can destabilize the coin. Most prominent of this had been Tether USD, whose peg saw the most opposition as its peg to the U.S. dollar was heavily challenged. This challenge suggests that there could be more volatility coming.<\/p>\n

Tether Challenge Ramps Up<\/h2>\n

One thing to note is that periods of challenges like these are mostly arising from periods of extreme market stress and liquidations. Such were the market conditions for the last week after the UST de-pegging. This ultimately leads to large deviations in the price of stablecoins such as USDT and USDC when it comes to the $1 peg. Although in this case, the majority of the deviations were recorded in USDT alone as USDC held up better in the market.<\/p>\n

Related Reading |\u00a0Bitcoin Marks Seven Consecutive Red Candles, Paints Gruesome Picture For Market<\/a><\/strong><\/em><\/p>\n

Tether (USDT) which has always operated under high scrutiny from some in the market had begun trading below its $1 peg after the UST news broke. This gap would grow a bit wider with time although the stablecoin would regain its peg once more. However, the scrutiny that accompanies the stablecoin explains why it was the obvious target of the market.\u00a0<\/span><\/p>\n

\"USDT<\/p>\n

USDT loses dollar peg following UST crash | Source: USDT\/USD on TradingView.com<\/a><\/pre>\n
This had inadvertently created an opportunity for funds that had access to Tether redemptions. These funds had been able to take advantage of this slight de-pegging and presumably profited off it until the digital asset could return to its 1:1 peg.<\/p>\n
More Volatility Coming?<\/h2>\n
On Thursday, the market saw one of the highest yearly volatility trends in a one-day period. This volatility had been brought on by the massive sell-offs that rocked the market, although this volatility has since declined since then.<\/p>\n
Related Reading |\u00a0Ethereum Hashrate Breaks All-Time High, Will Price Follow?<\/a><\/strong><\/em><\/p>\n
However, with the USDT peg being continuously challenged in the market, there may be more volatility yet to come. If a stablecoin such as USDT, which is currently the largest stablecoin in the market, were to lose its peg, it would no doubt have an even worse impact on the market than UST did. Basically, a de-pegging such as this could see the market dive deeper given that more than 50% of all open interest in the derivatives market are USDT collateral-based.<\/p>\n
The asset also shares the most trading pairs of any other stablecoin. So a de-pegging could lead to historical level short squeezes which would essentially cripple the market. Also, an event like this would set mainstream acceptance back years as more people would become fearful of the market.\u00a0<\/span><\/p>\n
\"USDT<\/p>\n
Loss of USDT peg could lead to extreme volatility | Source: Arcane Research<\/a><\/pre>\n
Featured image from CoinGeek, charts from Arcane Research and TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
The whole UST debacle has seen traders emboldened in the market against stablecoins. The result of this had been more investors going after the pegs of other stablecoins such as USDT and trying to see if they can destabilize the coin. Most prominent of this had been Tether USD, whose peg saw the most opposition as its peg to the U.S. dollar was heavily challenged. This challenge suggests that there could be more volatility coming. Tether Challenge Ramps Up One thing to note is that periods of challenges like these are mostly arising from periods of extreme market stress and liquidations. Such were the market conditions for the last week after the UST de-pegging. This ultimately leads to large deviations in the price of stablecoins such as USDT and USDC when it comes to the $1 peg. Although in this case, the majority of the deviations were recorded in USDT alone as USDC held up better in the market. Related Reading |\u00a0Bitcoin Marks Seven Consecutive Red Candles, Paints Gruesome Picture For Market Tether (USDT) which has always operated under high scrutiny from some in the market had begun trading below its $1 peg after the UST news broke. This gap would grow a bit wider with time although the stablecoin would regain its peg once more. However, the scrutiny that accompanies the stablecoin explains why it was the obvious target of the market.\u00a0 USDT loses dollar peg following UST crash | Source: USDT\/USD on TradingView.com This had inadvertently created an opportunity for funds that had access to Tether redemptions. These funds had been able to take advantage of this slight de-pegging and presumably profited off it until the digital asset could return to its 1:1 peg. More Volatility Coming? On Thursday, the market saw one of the highest yearly volatility trends in a one-day period. This volatility had been brought on by the massive sell-offs that rocked the market, although this volatility has since declined since then. Related Reading |\u00a0Ethereum Hashrate Breaks All-Time High, Will Price Follow? However, with the USDT peg being continuously challenged in the market, there may be more volatility yet to come. If a stablecoin such as USDT, which is currently the largest stablecoin in the market, were to lose its peg, it would no doubt have an even worse impact on the market than UST did. Basically, a de-pegging such as this could see the market dive deeper given that more than 50% of all open interest in the derivatives market are USDT collateral-based. The asset also shares the most trading pairs of any other stablecoin. So a de-pegging could lead to historical level short squeezes which would essentially cripple the market. Also, an event like this would set mainstream acceptance back years as more people would become fearful of the market.\u00a0 Loss of USDT peg could lead to extreme volatility | Source: Arcane Research Featured image from CoinGeek, charts from Arcane Research and TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":490700,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,11164,15241,16680,10263,85059,4406],"class_list":["post-490693","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-stablecoin","tag-stablecoins","tag-usdc","tag-usdt","tag-ust","tag-volatility"],"acf":[],"yoast_head":"\nHow The Tether Peg Could Predict Raging Bitcoin Volatility<\/title>\n<meta name=\"description\" content=\"The whole UST debacle has seen traders emboldened in the market against stablecoins. 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"How The Tether Peg Could Predict Raging Bitcoin Volatility","url":"http:\/\/wncen.com\/news\/how-the-tether-peg-could-predict-raging-bitcoin-volatility\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/how-the-tether-peg-could-predict-raging-bitcoin-volatility\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/05\/tether-1.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/05\/tether-1.jpeg?fit=1200%2C675"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","stablecoin","stablecoins","usdc","usdt","ust","volatility"],"dateCreated":"2022-05-17T17:00:49Z","datePublished":"2022-05-17T17:00:49Z","dateModified":"2024-06-11T14:19:54Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"How The Tether Peg Could Predict Raging Bitcoin Volatility\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/how-the-tether-peg-could-predict-raging-bitcoin-volatility\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/how-the-tether-peg-could-predict-raging-bitcoin-volatility\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/05\\\/tether-1.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/05\\\/tether-1.jpeg?fit=1200%2C675\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"stablecoin\",\"stablecoins\",\"usdc\",\"usdt\",\"ust\",\"volatility\"],\"dateCreated\":\"2022-05-17T17:00:49Z\",\"datePublished\":\"2022-05-17T17:00:49Z\",\"dateModified\":\"2024-06-11T14:19:54Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/05\/tether-1.jpeg?fit=1200%2C675","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/490693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=490693"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/490693\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/490700"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=490693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=490693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=490693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}