Tether supply convulsing and BTC mempool rocketing UHH OHH
 | BTC mempool is 120MB and counting, fees will rise >$20 and possibly higher very soon. Tether is dealing with a lot of redemptions, but for some reason hasn't started the printing presses yet. Tether definitely does not have enough to cover this stablecoin blowout, so the UST default may trigger a core meltdown of crypto markets. At some point people who can't get fiat for their stablecoins will buy crypto in desperation, then try to liquidate that. When that happens, we should see crypto prices temporarily spike and then drop more. [link] [comments] |
