Express

Chinese Yuan To USDT Price Fell As Retail Investors Sell In Panic

Mary Liu

Summary: Data shows that the Chinese Yuan to USDT Price in Huobi OTC dropped to 6.2 Yuan, and the premium rate was -3.58%. Binance OTC USDT price fell even more to 5.97 Yuan, while the current exchange rate of the US dollar to RMB is 6.4339.  Dovey Wan, The Founding partner of Primitive Ventures said that ...

Data shows that the Chinese Yuan to USDT Price in Huobi OTC dropped to 6.2 Yuan, and the premium rate was -3.58%. Binance OTC USDT price fell even more to 5.97 Yuan, while the current exchange rate of the US dollar to RMB is 6.4339. 

Dovey Wan, The Founding partner of Primitive Ventures said that this means that Chinese retail investors are panic selling. Chinese investors are exiting the market and selling USDT to RMB to avoid further losses. The sooner this happens, the better, because the large scale of withdraw from Tether means the release of selling pressure.

By Mary Liu

Last Update:

Tags: ,
Link: Chinese Yuan To USDT Price Fell As Retail Investors Sell In Panic   [Copy]
Next:

Related Articles

  • Are Airdrops Overfarmed? State of the Market 16 hours ago
  • Autonomous Worlds: The Ultimate Goal of Blockchain? 2 days ago
  • Have Cosmos and Polkadot Been Replaced? The Future of ATOM and DOT 5 days ago
  • Polygon AggLayer: Uniting Modular and Monolithic Blockchain Architectures 6 days ago
  • Bitcoin DeFi and Layer 2s: The Next Trillion-Dollar Opportunity? 16 days ago

    • You need to login to comment.