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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

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