ChainCatcher reported that according to Fortune, Tether's USDT stablecoin has recently been trading at a slight discount. Some economists said the reason is that Chinese investors' interest in cryptocurrencies has weakened and they are seeking to invest their funds in the domestic stock market.

According to CoinMarketCap data, USDT has been trading below the dollar price since the end of September, with only a slight drop. On Tuesday, Tether was trading at 0.9995 per dollar. This slight drop shows that investors are selling stablecoins in exchange for yuan and investing in Chinese stocks, which have soared due to the country's recent stimulus measures.

Although the fees for clearing USDT range between three and five percentage points, investors don’t seem to care, as they stand to make handsome gains if China’s stock market continues to surge.