Overview

Click to expand overview
Tether (USDT), the world’s largest stablecoin, briefly dropped 5% on Thursday, falling as low as $0.95. The stablecoin has recovered some but is still trading at First Terra’s UST lost its peg, and now Tether’s USDT is suffering the consequences, being the next stablecoin to come under attack. Key Takeaways. Tether’s Tether (USDT) lost its dollar parity on Thursday as UST’s debacle sent shockwaves across the stablecoin market amid serious sell pressure in the wider industry.

After UST Debacle: Tether (USDT) Loses Peg, Drops to $0.94 - Details

The stablecoin market is facing increased scrutiny after the collapse of Terra's UST. Now, Tether (USDT), the world’s largest stablecoin, briefly dropped 5% on Thursday, falling as low as $0.95. This follows First Terra’s UST lost its peg, and now Tether’s USDT is suffering the consequences, being the next stablecoin to come under attack. The stablecoin has recovered some but is still trading at.

Tether (USDT) Under Pressure: Key Takeaways

  • Tether’s Tether (USDT) lost its dollar parity on Thursday as UST’s debacle sent shockwaves across the stablecoin market amid serious sell pressure in the wider industry.
  • USDT's price momentarily dipped to $0.94 amidst widespread market volatility.
  • The event raises concerns about the stability of stablecoins and their vulnerability to market conditions.

This deviation from the $1 peg raises questions about Tether's reserves and the overall confidence in stablecoins. The situation is being closely monitored by investors and regulators alike. Stay updated on the latest developments regarding USDT's price and the implications for the cryptocurrency market.

Top Sources

Related Articles