‘Panic Buying’ of Chinese Stocks Weighs on Crypto’s Most-Traded Token

Following China's historic stimulus rally, Yale University senior fellow Stephen Roach, says Beijing authorities need to beware of a few risks.

Tether’s USDT stablecoin, the world’s most used cryptocurrency, has been trading at a discount at times relative to the dollar since the end of September, according to Dessislava Aubert, senior research analyst at blockchain data firm Kaiko. The emergence of the discount coincided with a series of easing measures by China’s central bank designed to stem a worsening economic outlook that sent stock prices soaring.

The absence of USDT/Chinese yuan trading pairs on crypto exchanges because of the ban has made the dollar the de facto barometer for measuring activity, Kaiko’s Aubert said. The slight discount suggest more demand for dollars and selling of Tethers. The demand isn’t just being driven by retail investors, according to Laura Vidiella del Blanco, the New York-based head of business development and strategy at crypto hedge fund MNNC Group. Some of the firm’s institutional investors are shifting allocations to Chinese stocks.

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

'We're in a stealth bull market' - Nicole Adshead-Bell on generalists buying resource stocksThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Fuente: KitcoNewsNOW - 🏆 13. / 78 Leer más »

Chinese Stocks on Verge of Five-Year Low as Recovery Hopes Fade(Bloomberg) -- Chinese stocks are on the brink of falling to a five-year low seen in February as bearish sentiment grips the market amid a lack of earnings...
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

Chinese EV stocks tumble as Beiijng looks to protect its tech: RptChinese electric vehicle stocks (NIO, LI, XPEV) are under pressure on reports that China is encouraging its car makers to keep advanced EV technology within ...
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

Stock market today: Wall Street hangs near records after Chinese stocks soarNEW YORK (AP) — U.S. stocks are hanging near their records after Chinese stocks soared following a slew of moves by the Chinese central bank to prop up the world’s second-largest economy. The S&P 500 added 0.
Fuente: SooToday - 🏆 8. / 85 Leer más »

Chinese Stocks Extend Gains on Continued Stimulus Optimism(Bloomberg) -- Chinese stocks extended their gains on Wednesday as investors continued to bet that Beijing’s latest stimulus measures would help drive a...
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »