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Where's the proof on your claim?

From the looks of the chart here(if you need more clarity zoom from April to date): https://coinmarketcap.com/currencies/tether/#charts

It is you second but is less common, USDT < USD is what is happening more. Sure there are some spikes in the opposite direction.



I'd say that that chart shows that when USDT < USD it is larger, but less frequent. Look more closely and I think you'll agree.




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