 | I follow a guy on twitter/X that has noticed that when Tether Prints, large USDC transactions take place. His theory is that Tether is raiding the piggy bank of USDC, the only really banked stable-coin. If you look at the chart below, you can see USDC start to follow tether up, as if being created by Tether, admittedly with a six month lag, then, USDC Peaks at approx the same market cap as Tether (coincidence?) Then USDC starts bleeding off. Since USDC offers staking, it seems like more people would hold USDC instead of Tether. Curious as to what others think. [link] [comments] |
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