Out of curiosity, what's the point of having a "position" in a stablecoin? It seems that if they manage to maintain the peg, there can't be any gains either. My impression was stablecoins are mainly used as an intermediary when converting between crypto positions, as a kind of "crypto reserve currency".
Re:UST Stablecoin Loses Dollar Peg
by netheril96 on Tuesday May 10, 2022 @06:23AM
(#31325404)
Not OP. I guest he put his UST on Anchor to earn the 20% interest.
I'm holding and taking no action (ie, not buying more). It's at the risk exposure I'm comfortable with.
Then again I held my shares in sun microsystems until the very end. No regrets on that either.
This is not financial advice, I'm probably a fool. FWIW, UST is recovering way quicker then my positions in Nvidia and Adobe are. It's back to $0.92.
In an environment where companies like Rivian are down over 90% and across the board 75% stock price drops are common right now, recovering in 24 hours is pretty great