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RE: Tether is Breaking its “Peg” to the Dollar
It’s due to all the negative attention tether is receiving. But its still close to the dollar. Tether manipulates their prices by inflating and deflating supply. So they will have to drop some of their supply to correct the price. Steemit witnesses are looking to do the same. They are trying to reduce the price of SBD to $1.
Read about it here:
https://steemit.com/steemit/@ginquitti/high-sbd-or-usd1-sbd-putting-greed-aside-high-sbd-is-still-best
I followed you and upvoted. Follow back please
definitely, negative press and attention is the catalyst for this move (why here, why now). question really boils down to the backing
as for steem, thats interesting comment, cuz it seems like STEEM lacks a mechanism for bringing down the price of SBD other than selling. 0% bound for interest rates isn't enough of an dis-incentive