Expect more Volatility in USDC

[virasog]

This is very strange that bitmex now offers USDC perp which means that users can long or short the pair USDT and USDC.
Both of them are stablecoins and we should not expect volatility in them but if Bitmex is offering this, means that we are going to see these stablecoins won't remain stable, Not good for the market

I would consider this as another warning sign for the stablecoins.

https://twitter.com/BitMEX/status/1634768555072966658

[EarnOnVictor]

This is very strange that bitmex now offers USDC perp which means that users can long or short the pair USDT and USDC.
Both of them are stablecoins and we should not expect volatility in them but if Bitmex is offering this, means that we are going to see these stablecoins won't remain stable, Not good for the market

I would consider this as another warning sign for the stablecoins.

https://twitter.com/BitMEX/status/1634768555072966658

Stablecoins are known to be pegged with the value of $, but we have to know in reality that it's not always so. There are many times that such have been manipulated to fraudulently enrich some sectional people, we have to be careful about what we hold at any point in time.

According to Coinbase, the all-time high of USDT is $1.22, while its all-time low is $0.572521 according to CoinGecko. While the all-time highs and lows of USDC are $1.19 and $0.891848 respectively according to Coindesk.

This means that anything could still happen within these ranges and even achieve another record.

[dbshck]

Both of them are stablecoins and we should not expect volatility in them but if Bitmex is offering this

There's volatility in USDC due to its 3.3 billion USD holding in Silicon Valley Bank that went bust a few days ago. The reserve that's stuck in SVB represents about 8% of USDC reserves. That's why USDC lost its peg, currently trading at 0.94 against USDT.

[Gayong88]

The more stable coins are listed as trading pairs on the exchange, the greater the liquidity. Eventually, a market will begin to form where the value of one stable coin equals one US dollar (USD). However, there are still a number of hurdles to be overcome before this can happen. For example, most crypto exchanges do not buy coins for the full value of their trading pairs.

Overall, the crypto market is slowly gaining ground again. However, the dangers of USDC and TUSD are still growing. In general, traders are becoming more aware of the issue so we can expect increased volatility in the coming days. However if Bitmex changes the USDC:USD price equation it could become even more volatile.

I remain negative on stablecoins because I believe the whole idea is flawed because of their adherence to fiat. Until cryptocurrencies are fully compliant without regulation or escrow, it will not be widely accepted by the market.

[Lucius]

I wonder how a Legendary member who has been on the forum since 2015 can open a topic about stablecoins in the Bitcoin discussion board? Guys, this is not a board for every idea that comes to your mind, especially if it is related exclusively to altcoins/stablecoins.