The Chinese yuan (RMB) has appreciated, pushing the offshore rate (CNH) above 7.0, with the onshore rate at 7.0133. Meanwhile, USDT is trading at a discounted rate of 6.83 CNY, reflecting a 2.48% negative premium. This development comes amid increased regulatory scrutiny and market volatility, which are exerting pressure on exchange flows. The widening discount in USDT suggests declining demand for stablecoins, potentially impacting altcoins as well. The regulatory environment and market conditions are likely to continue influencing these trends, with further pressure anticipated on digital assets.