The offshore RMB to USD exchange rate recently broke below 7.0, which is not good news for currency holders.



At the beginning of the year, the exchange rate was around 7.35, and now it has slipped to 6.93. Just looking at this number might not mean much, so let's do a different calculation: if you held 1 million USD in USDT at the beginning of the year and exchanged it for RMB at that rate, you would have already lost 420,000 RMB at the current rate.

What does this mean for investors holding stablecoins? To put it simply, even if the coin price hasn't moved, your purchasing power is already shrinking. Especially for those who used RMB to buy USDT, exchange rate fluctuations directly impact real returns.

Forget it, don't take these too seriously. Just consider it the cost of the holiday. Eat, sleep, and Bitcoin is still there.
BTC0.57%
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GasWastervip
· 2h ago
Damn... 420,000 just disappeared like that? I was still thinking about USDT insurance, but the exchange rate hit me hard.
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NFTRegretfulvip
· 7h ago
Hmm... 420,000 just disappeared like that, I feel like a fool.
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FallingLeafvip
· 7h ago
420,000 just vanished like that... Truly heartbreaking
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HodlAndChillvip
· 7h ago
420,000 just gone... Oh my, it looks like this year is really going to be tough.
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LiquidityWitchvip
· 7h ago
the cny death spiral brewing... 42k vaporized just like that. this is why i never trust fiat anchors, they're all cursed positions waiting to liquidate. stable coins aren't stable when the peg itself is transmuting into thin air, ngl.
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AirdropworkerZhangvip
· 7h ago
420,000 just gone like that, feeling heartbroken
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