This may explain some of the carnage seen in bitcoin lately.
One type of cryptocurrency, a so-called stablecoin, is meant to keep its value at $1. But on Monday, the third-biggest stablecoin, TerraUSD, fell as low as 69 cents, causing a flood of investors to sell their holdings.
Cryptocurrency TerraUSD Falls Below Fixed Value, Triggering Selloff - WSJ
The crypto whales will do everything they can to keep bitcoin above $30. A good time if you are a trader.