Study: USD-pegged stablecoins may cause local currencies to depreciate
• The Bank of Korea researched and found that stablecoins pegged to the US dollar could put downward pressure on local currencies.
• Buying pressure on currency pairs on Binance is correlated with local currency depreciation.
• The reason is that market makers rebalance positions, thereby affecting local exchange rates.
#BinanceSquare #CryptoNews #Stablecoin #USDT #USDC Blockchain
$usdt $usdc
vlikevn Titanbot
Source: CoinDesk
• The Bank of Korea researched and found that stablecoins pegged to the US dollar could put downward pressure on local currencies.
• Buying pressure on currency pairs on Binance is correlated with local currency depreciation.
• The reason is that market makers rebalance positions, thereby affecting local exchange rates.
#BinanceSquare #CryptoNews #Stablecoin #USDT #USDC Blockchain
$usdt $usdc
vlikevn Titanbot
Source: CoinDesk