A Bank of Korea study finds that dollar-backed stablecoins can push local currencies lower, with buying pressure in Binance-paired currencies correlating with depreciation as market makers balance positions.
A Bank of Korea study says dollar-backed stablecoins can push local currencies lower. Its research found that buying pressure in currency pairs listed on Binance lines up with local currency weakness, and it points to market makers rebalancing their positions as the reason.
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