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Holding U doesn't feel so appealing anymore🥲
Recently, the Renminbi has been quite active. On December 25th, the onshore RMB against the US dollar directly broke through the 7.01 mark, reaching a new high since September 27th. The market changes are also quite noticeable—USDT off-exchange price dropped to around 6.92 yuan, while the USD exchange rate was still at 7.0144 yuan. Comparing the two, the USDT premium rate has actually fallen to -1.35%, turning from a positive premium to a negative premium.
What does this mean? Previously, U was often at a premium, but now it's trading at a discount. For those holding U, this is quite a blow—it’s not only facing exchange rate fluctuations but also a shrinking off-exchange price. In other words, the stronger the RMB rises, the less attractive U becomes. Those wanting to sell should act quickly, or it might continue to decline.