Re:Tether USDT is depegging from dollar
by LegitShady on Thursday November 10, 2022 @08:18AM
(#33545950)
Does destroying currency (reducing the amount in circulation) put downward pressure on it? Not in my experience.
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Re:Tether USDT is depegging from dollar
by compsciphd on Thursday November 10, 2022 @09:11AM
(#33546668)
I (believe) what I said if there's downward pressure on the currency, therefore to maintain the peg they have to buy it (and in a sense destroy it). not that destroying it leads to downward pressure, but that we should see a reduction in market cap. I'm wondering if we can see this fluctuation in market cap.