Reckless – Chapter 12: Stablecoins

February 06, 2023

Chapter 12 of the book Reckless: The Story Of Cryptocurrency Interest Rates is published below. USDT is therefore one of the most important tokens in the cryptocurrency space and USDT vs Bitcoin is the most liquid Bitcoin trading pair. Due to the size of these liquidation engine sell orders, the price of the perpetual swap contract on BitMEX traded well below the prevailing spot market price. The new issuance of Luna could increase the supply of Luna in the market, which could cause the Luna price to decline. The UST system never achieved an effective collateralisation level, unlike Dai for example, which was over collateralised.

The source of this news is from BitMEX