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Concerns Arise as Millions of Tether Stablecoins Sold Off on Uniswap and Curve Pools

Traders appeared to be selling off millions of dollars worth of tether (USDT) stablecoins on Uniswap and Curve pools, causing concern among traders. The imbalance in USDT balances on Curve's 3pool, which now holds over $300 million of USDT, suggests a preference for DAI and USDC over tether. This sentiment was previously observed during Terra's implosion last May and the collapse of crypto exchange FTX in November. Tether CTO Paolo Arduino suggested that some traders may be looking to capitalize on the general sentiment in the broader crypto markets, which have dipped in the past 24 hours.

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