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US Dollar Anchor Price Rebounds After Federal Reserve’s Emergency Financing Plan

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US Dollar Anchor Price Rebounds After Federal Reserves Emergency Financing Plan

It is reported that in the early morning of March 13, Beijing time, after the Federal Reserve announced the new emergency bank regular financing plan and supported the Silicon Valley bank depositors to use funds on Monday, local time, the US dollar anchor price rebounded, and the US dollar anchor has been basically restored. According to the data of coingecko, the current trading price of the US dollar is US $0.991933, up 2.7% in the past 24 hours, and its market value has returned to above US $40 billion, At the time of writing, this article reached US $40427940918. （cryptoglobe）

The market value of USDC returned to above $40 billion

Analysis based on this information:


This message highlights the impact of the Federal Reserve’s new emergency bank regular financing plan on the US dollar anchor price. According to the report, the US dollar anchor price rebounded after the announcement and has been restored to its original position, which is noteworthy for traders and investors in the cryptocurrency market.

The US dollar anchor refers to the stablecoin Tether, which is pegged to the US dollar on a 1:1 basis. As such, any fluctuations in the US dollar can affect the value of Tether, and by extension, other cryptocurrencies that are traded against it.

The Federal Reserve’s emergency financing plan is aimed at supporting the banking system during the ongoing COVID-19 crisis. The plan includes measures such as increasing access to discount window loans and offering term funding at lower rates to banks. The plan also allows Silicon Valley bank depositors to use their funds on Monday, which has contributed to the rebound in the US dollar anchor price.

Coingecko, a popular cryptocurrency data aggregator, reports that the current trading price of the US dollar is US $0.991933, up 2.7% in the past 24 hours. Furthermore, the market value of Tether has returned to above US $40 billion, which underscores the importance of the US dollar anchor price in the cryptocurrency market.

Overall, this message highlights the interconnectedness of the traditional banking system and the cryptocurrency market. The actions of the Federal Reserve can have a significant impact on the value of stablecoins such as Tether, which in turn affects the trading patterns of other cryptocurrencies. Traders and investors in the cryptocurrency market should thus pay close attention to developments in the traditional financial sector, as they can have far-reaching implications.

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