BlockBeats news, October 8, according to Fortune, Tether's USDT stablecoin has recently traded at a small discount. Some economists said the reason is that Chinese investors' interest in cryptocurrencies has weakened and they are seeking to invest their funds in the domestic stock market.
According to CoinMarketCap data, USDT has been trading below the US dollar price since the end of September, with a small drop. Last Tuesday, Tether was trading at 0.9995 per dollar. This slight drop suggests that investors are selling stablecoins in exchange for RMB and investing in the Chinese stock market, which has soared due to the country's recent stimulus measures.
Although the cost of clearing USDT is between three and five percentage points, investors don't seem to care. After all, if the Chinese stock market continues to rise sharply, they will get considerable returns.