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Usdn

(Un)stablecoinsBe aware, there's a reoccurring theme in stablecoins lately, and doesn't seem to be getting better yet. Many crypto/assets are down more about 50% in a few weeks! Now would be a good time to partially close some shorts issued against stablecoins, or if you sold lots of crypto and hold stablecoins which are still lucky enough to be stable: USDT, BUSD, and a few small others. There seems to be a theme like falling dominoes of failing pegs, for various reasons, including a combination of cyclical pressure, delays in peg liquidity, activist traders, and others. In all the panic and crazyness, a decent short-term long entry is not out of the question if you are into swing trading. I don't want to know will happen if USDT breaks more than a few percent away from the peg, though. Does that mean the dollars are useless and suddenly assets become a good hedge again? Or does everything become worthless? There's risk everywhere and it's often worth waiting. We DO NOT know if it's about to get much worse or not. It's hard to ultimately judge upward/downward risk with such volatility. We could be at the beginning of capitulation or near the middle, but I don't think we are near the end yet. We shouldn't assume it will simply go up if we decide to buy it simply because it's cheap. I'm seeing risky long-term longs until at least June or July. Historically it's not safe to buy a falling knife like this unless you like serious risk, and I wouldn't automatically assume the general market is oversold enough to recover yet, even though it looks oversold. Hopefully this raises some macro awareness if you didn't know about this crazy situation! Let me know what you think, and I hope you weren't holding too many UST. Good luck and don't forget to hedge your bets.
U
by fringe_chartist
1
USDN NEUTRINO 30% DUMP AND USD UNPEG: BIG TROUBLEWhy get subbed to me on Tradingview? -TOP author on TradingView -2000+ ideas published -15+ years experience in markets -Professional chart break downs -Supply/Demand Zones -TD9 counts / combo review -Key S/R levels -No junk on my charts -Frequent updates -Covering FX/crypto/US stocks -before/after analysis -24/7 uptime so constant updates 🎁Please hit the like button and 🎁Leave a comment to support our team! USDN NEUTRINO 30% DUMP AND USD UNPEG: BIG TROUBLE Waves, the token backing Neutrino USD, or USDN, dropped by more than 36% in the past 24 hours. USDN was trading at about $0.76. Nonetheless, the selloff occurred also as a pseudonymous analyst accused Waves of artificially pumping WAVES by 750% in the last two months by: 1) collateralizing USDN to borrow USD Coin (USDC) on the Vires.Finance lending platform; 2) using the proceeds to purchase WAVES; 3) converting the tokens to USDN, and 4) redeploying them into the Vires.Finance pool to borrow more USDC. ::: USDN lost its near-1:1 peg to USD this week ::: dropping to as low as $0.65 before recovering to around $0.66. ::: Neutrino USD is an algorithmic stablecoin that maintains ::: its peg with the backing of the Waves blockchain ::: this is bad news and puts stablecoins in spotlight again ::: due to potential misuse/manipulation ::: traders should be also concerned about USDT ::: as there's been recent short-selling interest ::: among crypto hedge funds ::: so essentially so funds are betting that ::: USDT will also loose it's USD peg ::: best advice: diversify your stablecoin portfolio RISK DISCLAIMER: Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results.
UShort
by ProjectSyndicate
12