Tether's a Position too

You often hear in the stock market that "Cash is King."

Of course, in the world of Crypto and DeFi, it could be said that "Tether is King".

There's a lot of big players in other asset classes, that as part of their mandate, can't sit in cash. The majority of investors, particularly in this space, do have that option. So why not use it?

You’re going to see a lot of the crypto community advise against cash. “Market sell-offs are an opportunity to buy more at lower levels”, they say. “You’re not disciplined or smart enough to get back in”, they preach. "Just HODL and diamond hands, bro".

It’s all based on this meme that the market always goes up. I guess if you trust data based on the tiny sample sizes that we have in this young asset class, you’ll believe anything.

But ultimately, the point of the matter is that there's no real directional bias right now.