Stablecoins have been anything but stable recently.

The OTC price of USDT has already fallen below the 7 yuan mark. At this price, is it time to consider building a position in batches? How far has the market panic spread—deposit channels are tightening, and withdrawals are even riskier, like walking on thin ice. Buying USDT might trigger risk controls, and selling it carries the risk of account freezes. These days, risks don’t hit the whales first; it’s usually us small-volume traders who suffer the most.

With both inflows and outflows being blocked, even if you're just honestly doing stablecoin yield farming, your assets are still silently evaporating on paper due to exchange rate fluctuations. Ahead lies regulatory uncertainty; behind is the pressure of drying up market liquidity. Stand still? You’ll just watch your purchasing power get diluted. Make a move? Every step could be a landmine.

Anyone who’s been in this situation knows exactly how it feels.