Usdc is holding on by a thread, a very, very thin thread.
I believe there will be four ways this will end, I would love to hear you theories and thoughts on what I’m about to say, with further a do, let’s begin.
Usdc continues being depegged, and all the 61 billion in the mc gets flushed out, and the market crashes.
And possibly the biggest winter we’ve ever seen.
Usdc gets repegged and we all sleep fine tonight, and hopefully soon. And we forget about this whole situation within months.
All the 61 billion mc in Usdc gets dumped in BTC, ETH, and Alts. Pumping the entire market while we see Usdc get pushed under the rug
Usdc stays depegged and usdt soaks up all that juicy 61 billion mc and continues to become and unstoppable force (at least for now).
These are the outcomes I can think of, I will edit this post and add more outcomes the comments say.
So comment your outcomes you think is a possibility and I’ll add them here:
USDC is probably going to dump hard like BUSD did. Traders don’t stick around for a depeg because it gets too confusing doing trades, it’s only benefit is arbitrage.
Usdc and tether both depeg, while the stock market also crashes, and banks fail left and right.
Enter central bank digital currency to save the day!
submitted by /u/Only1Shock