2026-01-17 06:24:51

Who understands, brothers! The recent decline of USDT against the Vietnamese dong really shattered everyone's expectations. I originally thought it would take until late March or early April to reach the bottom-buying range of 26.300-26.800, but this thing hit the gas pedal and in just one month, it plummeted from 27.250 straight down to 26.330, a drop of 3.45%. Many people's funds were only halfway raised, and the ticket was already at the end—missed by a step and you'll be kicking yourself.

But don't panic just yet, let's take a good look at the logic behind this rapid decline. The fluctuation of stablecoin exchange rates has never been a one-man show; this time, the appreciation of the Vietnamese dong (or conversely, the depreciation of USDT) is the result of three forces acting simultaneously.

First is the imbalance of supply and demand in regional markets. Recently, local dollar liquidity in Vietnam has been tight, and some traders, in need of cash flow, have started to sell USDT to exchange for local currency. The short-term selling pressure has directly pushed the exchange rate downward. Second is the compounded effect of external disturbances. Certain capital forces always want to make a move in emerging markets, using various means to influence capital flows. This round, market sentiment was triggered into panic, further amplifying the exchange rate volatility. Third is the transmission of global capital cost differentials. The Federal Reserve's cycle of maintaining high interest rates exceeded expectations, and the interest rate gap between the Vietnamese dong and US dollar assets became unbalanced, causing some short-term capital to flow out, indirectly increasing the selling pressure on USDT.

Here, we need to correct a common misconception: many people think stablecoins should be "as steady as a rock," and panic when they drop in value. But in reality, although the exchange rate fluctuations of stablecoins are much smaller than mainstream currencies, they can also show significant short-term deviations during regional market liquidity crunches or geopolitical disturbances—this is not a malfunction, but the market digesting information.

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OfflineNewbie

· 2h ago

It's the same old pattern of being harvested again. I should have gotten out earlier if I had known. The money in hand hasn't even accumulated yet, and it's already rebounding from the bottom. This must be the fate of retail investors. Stablecoins are not stable either. When will they truly stabilize? The recent appreciation of the Vietnamese dong is indeed quite outrageous. I didn't expect the Federal Reserve's high interest rates to have such an impact. Supply and demand imbalance combined with capital speculation—retail investors simply can't see through these tricks, brother. It feels like someone is scheming behind the scenes; otherwise, it wouldn't fall so quickly. The concept of interest rate differential imbalance is a bit complicated, but it doesn't sound like a good thing. I think the market is just shaking out weak hands; the real bottom-buying opportunity hasn't come yet.

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MetaMaskVictim

· 22h ago

Damn, got caught again. Manual prediction and sniping really don't work well. But to be honest, the Vietnamese dong is really aggressive this time... it's moving too fast. The Federal Reserve's high interest rate policy is really aggressive, no wonder capital is fleeing abroad. If I had known, I wouldn't have waited until the end of March. Now I'm kicking myself. The volatility of stablecoins... honestly, it's just liquidity throwing a tantrum. I wish I could do it all over again. This time, I really want to slap my thigh. There's no such thing as a stable market; it's all relative.

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GasFeeCrier

· 01-17 06:54

It's too slow, already ran away, didn't catch this wave --- It's the same old supply and demand imbalance, basically because the US dollar is tight against the Vietnamese dong --- I'm used to the volatility of stablecoins; it's just regional liquidity issues --- Wow, 3.45% in a month, I thought stablecoins wouldn't jump like this --- Shorting emerging markets with capital is really brilliant; every time, I get caught --- So is this a good opportunity to bottom out or should I keep watching? --- Interest rate differential imbalance causes capital outflows; the logic is sound, the Federal Reserve's continuous rate hikes have indeed messed up quite a few things --- But to be fair, USDT dropping so much in Vietnam at this critical moment isn't really a collapse --- I just want to know when it will return to 27 dollars --- This decline was indeed beyond expectations; I hadn't even secured the funds yet

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CryptoSurvivor

· 01-17 06:53

The group of quick traders must be feeling great now. Looking at this decline just makes me angry... This wave of decline was analyzed quite well, but honestly, too many people bet on the wrong timing, and it’s really frustrating. The appreciation of the Vietnamese dong, to put it plainly, is due to tight dollar liquidity and capital manipulation. We can only passively endure it. Stablecoins are unstable, sounds like a joke... Will it continue to fall before the end of March? I'm a bit afraid of missing out again. That's why I no longer try to precisely catch the bottom; I can't afford to gamble on that timing gap. It feels like the Vietnamese market’s strategies are even more complicated than mainstream crypto, and we need to keep an eye on global interest rate trends. With such heavy selling pressure, we have to be careful that there’s no rebound later. I’m just wondering, how unbalanced does the interest rate differential have to be to cause such a big fluctuation... It seems I need to re-evaluate the Vietnamese market. Liquidity issues are indeed a hidden risk.

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GovernancePretender

· 01-17 06:49

Damn, being slow really is the end, I just missed the bottom price --- What's going on with the liquidity crunch in Vietnam? Feels like there's some deep套路 --- Stablecoins are so volatile, yet they still dare to call themselves stable? Laughing to death --- Brothers who haven't gotten in by the end of March, what are your thoughts now? I'm really a bit confused --- Capital players just love to stir up trouble in emerging markets, it's always the same routine --- The Federal Reserve's high interest rate cycle is exceeding expectations... and it's this reason again, getting a bit tired of hearing it --- Short-term capital outflows, our USDT has to take the blame, right? --- If you missed this wave, go face the wall and reflect --- Interest rate differential imbalance causes selling pressure, the implication is that it still has to fall further --- The market just digests information, and out of that comes a limit-down for us

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VirtualRichDream

· 01-17 06:49

Being slow really deserves a slap on the thigh, who would have thought it would be in place in just a month Vietnamese dong is a bit fierce this time, is it due to supply and demand imbalance? The fluctuation of stablecoins is normal, don’t worry too much The price of 26.330 is really tempting... unfortunately, my funds are stuck I just want to ask, where will the next rebound be, everyone These three forces acting simultaneously are really hard to withstand, even the big A-shares can't stabilize the crypto market They are right, the market is just digesting information, not a malfunction I've seen short-term selling pressure pile up many times, and the bottom often forms this way External capital causing trouble is indeed a bit excessive, this is the treatment for emerging markets I understand the logic of interest rate differential imbalance, but I just don’t have the money to buy the dip, sob sob

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AirdropSweaterFan

· 01-17 06:31

Damn, if you're slow, it's really gone. The pace is too fast this time. Enough already, stablecoins are not stable either. You still have to keep an eye on the market. Vietnam is indeed dumping USDT. It seems the local dollar is really tight. To put it simply, it's still the interest rate differential causing trouble. Short-term capital loves to run out. This round of bottom-fishing didn't hit the mark. I guess we'll have to wait for the next one. I just want to ask, how can anyone still think USDT can be stable? That's nonsense. Capital speculation is truly ruthless. Emerging markets are just their ATM. When liquidity tightens, stablecoins immediately reveal their true colors. What's the point of saying this? If the Federal Reserve continues to maintain high interest rates, this selling pressure will probably persist. Instead of chasing the bottom, it's better to wait and see how things develop later. Don't get caught in a trap.

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BearMarketBarber

· 01-17 06:28

Damn, I really hit my thigh with my hand for being slow. I'm the unlucky guy whose funds haven't arrived yet. It's still a bit satisfying to watch from the sidelines; wait for the rebound to buy in. The Federal Reserve's move this time really confused everyone. The recent appreciation of the Vietnamese dong feels like it was driven by combined efforts of various capital sources; retail investors had no chance at all. I admit that "stablecoins are unstable" is true. It's really just liquidity tightening that forced everyone out; trader sell-offs are inevitable. Remember to plan a month in advance next time, don't always try to catch the perfect entry point. This dip doesn't look big, but it really hurts short-term traders a lot. Information asymmetry is like this—markets always move a step ahead of you.

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