{"id":138812,"date":"2024-10-07T18:30:59","date_gmt":"2024-10-07T15:30:59","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=138812"},"modified":"2024-10-07T15:44:56","modified_gmt":"2024-10-07T12:44:56","slug":"how-panic-buying-in-chinese-stocks-affects-the-top-traded-crypto-token","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/how-panic-buying-in-chinese-stocks-affects-the-top-traded-crypto-token\/","title":{"rendered":"How Panic Buying in Chinese Stocks Affects the Top-Traded Crypto Token"},"content":{"rendered":"

Despite China\u2019s 2021 ban on cryptocurrency trading, many mainlanders continue to access foreign accounts to trade digital currencies, bypassing capital controls and moving assets overseas.<\/p>\n

The report argues that USDT<\/strong><\/a>, the world\u2019s most used stablecoin, has recently traded at a discount to the US dollar, coinciding with China\u2019s new economic policies.<\/p>\n

This discount suggests increased selling pressure on the USDT as investors sell the stablecoin to buy Chinese equities. Livio Weng, CEO of Hong Kong-based crypto exchange Hashkey, suggested that this reflects investor panic.<\/p>\n