The fiat on-ramp for USDT feels like it's quickly becoming a fringe market.
It's not that the shorts are so strong, the key is that no one dares to catch the falling knife—liquidity accumulated over a week can be wiped out in just 4 hours by selling pressure.
In the current state of liquidity depletion, the depth of the deposit channel simply cannot withstand any fluctuations. The buying intent in over-the-counter trading is getting weaker and weaker, while there are plenty of sell orders, but the trading volume is pitifully thin.
In this one-sided market, retail investors are hesitant, and institutional funds have not shown significant large-scale activity. When market confidence is lacking, the capacity for fiat on-ramp support is this fragile.
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The fiat on-ramp for USDT feels like it's quickly becoming a fringe market.
It's not that the shorts are so strong, the key is that no one dares to catch the falling knife—liquidity accumulated over a week can be wiped out in just 4 hours by selling pressure.
In the current state of liquidity depletion, the depth of the deposit channel simply cannot withstand any fluctuations. The buying intent in over-the-counter trading is getting weaker and weaker, while there are plenty of sell orders, but the trading volume is pitifully thin.
In this one-sided market, retail investors are hesitant, and institutional funds have not shown significant large-scale activity. When market confidence is lacking, the capacity for fiat on-ramp support is this fragile.