2025-12-25 09:24:53

Recently, the RMB has been appreciating continuously, which is not good news for holdings valued in USD. Onshore RMB against the US dollar has broken through the 7.01 mark, reaching a new high since September 27, 2024. Correspondingly, the OTC trading price of USDT has fallen to around 6.92 yuan, with the current USD exchange rate at 7.0144 yuan, causing the USDT premium rate to drop to -1.35%. In simple terms, if you are exchanging USDT for RMB now, it’s not very cost-effective. For holders, this appreciation means that when valued in RMB, their accounts may be shrinking.

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ColdWalletAnxiety

· 7h ago

The recent appreciation of the RMB has directly hit US dollar holdings hard. USDT is at a negative premium, and we are the ones paying the price? Got caught again, this is the cost of hodling. The RMB's appreciation is a nightmare for someone like me with USD positions; the account figures look like they could shrink. Why didn't I exchange earlier? Now the -1.35% premium rate is really outrageous. With this exchange rate fluctuation, the US dollars in my cold wallet are becoming less and less valuable. The RMB is rising so rapidly? I need to quickly handle my USDT. Once again, I’m about to get cut by the exchange rate. I knew it would turn out like this.

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gm_or_ngmi

· 7h ago

The RMB is acting up again, and my USDT is depreciating again. Truly unbelievable.

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CafeMinor

· 7h ago

The recent appreciation of the RMB is really intense, and the U in my hands is now depreciating a bit painfully. It's another round of being cut by the exchange rate, and my account is shrinking to look at. If this trend continues, I need to think about how to adjust my positions.

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NFTragedy

· 7h ago

The recent surge of the RMB is quite strong, everyone holding USDT is trapped.

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BugBountyHunter

· 7h ago

The RMB appreciating looks great, but I really can't hold on as someone holding USDT. I just want to know, how high will this wave go? It feels like breaking 7 is already so difficult. USDT negative premium? Basically, it's the dollar depreciating. My position has just evaporated. Wait, is the RMB really going to rebound, or is it just a thing of these two days? When the contract wasn't fully closed, I should have shorted the dollar. Now it's too late to regret. It just feels like being cut, why is the exchange rate so torturous? The shrinking account balance is real, it's exhausting to watch. Anyone exchanging now has probably lost money, the negative premium is really outrageous. Over 7 RMB, wow, my USD position is going to be ruined. If I don't close the position, it will keep shrinking. No matter which option I choose, it’s uncomfortable.

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LightningHarvester

· 7h ago

The recent appreciation of the RMB is really intense, causing US dollar holdings to instantly depreciate. Feels like the account is bleeding. --- Is USDT at a negative premium? No, no, I need to rebalance my portfolio quickly. Continuing to hold US dollars is a bit disadvantageous. --- It's shrinking again... In this market condition, I should look more at opportunities in other cryptocurrencies. --- The RMB is appreciating so fast, friends holding US dollars should be panicking. I really lost a big chunk. --- At a USDT price of 6.92, it feels like there's no arbitrage opportunity left, a bit awkward. --- The account shrinking issue probably has a bunch of people calling for orders again lol. --- Playing with US dollar valuation in an appreciation market is destined to be a losing game. It was about time to switch positions. --- The premium rate is negative, indicating that the market also realizes USDT isn't reliable. What's the plan moving forward? --- The RMB's strength is real, but I need to review my holdings again. Can't keep getting passive hits. --- The depreciation of the US dollar has made me rethink my strategy. Holding USDT alone is too uncomfortable.

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