USDT

2022 - 5 - 12

Post cover — Image courtesy of "Financial Express"

Tether (USDT) Price Crash News: 3rd largest crypto price drops 5 ... (Financial Express)

Tether (USDT) Price News today: Amid Terra and UST debacles, the price of third largest crypto, and one of the most used stablecoins worldwide, ...

Meanwhile, the price of TerraUSD(UST) stablecoin has fallen massively in the last two days. Bitcoin price has fallen 11.29% to $28,000 in the last 24 hours while Ethereum is down 20.8% to $1914. have fallen to new lows. Unlike UST and USDT, prices of other stable coins remains stable and ini the green. Terra (Luna) price has dropped 99.9% in the last seven days to $0.08153. Meanwhile, LUNA’s ranking has dropped to 89th (Read more about Terra, Luna). In fact, the price of Binance USD (BUSD) has increased by 1.2% in the last 24 hours while USDC is up 0.43% in the same period.

USDT Tether tanks; Stablecoin down 5% (Business Today)

Stablecoin USDT Tether is down 5% to $0.95. This is the lowest the stablecoin has it hit in the last 2 years.

The value of assets held by Tether , therefore, has taken a beating in these uncertain times." It's important to highlight the reserve breakdown of Tether. Commercial paper and certificates of deposits form a major chunk of USDT reserves followed by cash and bank deposits and reserve repo notes and Money Market Funds. These are not highly liquid assets. The stablecoin is now trading at $0.95, as per data from CoinMarketCap, as of 12:50 pm IST on Thursday.

Tether's USDT Stablecoin Loses Peg Amid UST Disaster (Crypto Briefing)

Tether's USDT stablecoin is suffering from UST's ongoing crash. USDT briefly hit $0.95 today and is still trading below its peg.

The world's biggest stablecoin has dropped below its $1 peg (CNBC)

Tether, the world's largest stablecoin, broke below its $1 peg Thursday amid panic in the crypto market. The token sank to as low as 98 cents at around 3:30 ...

Tether has since reduced the amount of commercial paper in its reserves and says it plans to lower its holdings further over time. Tether and USDC, the two biggest stablecoins, are meant to be backed by a sufficient amount of money held in a reserve to ensure depositors can receive their dollars when they want to make a withdrawal. But there have long been concerns about whether tether actually has enough assets to back up its intended $1 peg.

Tether (USDT) Loses Peg As Mayhem in Stablecoin Continues (CryptoPotato)

Tether (USDT) lost its dollar parity today following the recent drama with Terra's UST stablecoin.

- Another algorithmic stablecoin that showed signs of drifting away from USD was Neutrino USD (USDN) of the Waves blockchain ecosystem. - Separately, Tethersaidthat it had begun a chain swap for its tokens. - In recent days, redemptions for stablecoins have been high, during which a dollar from the reserves is sent to the user, and the dollar-pegged token is removed from its supply.

Tether to move over 1B USDT from Tron to Ethereum and Avalanche (Cointelegraph)

Following recent developments in the sphere of stablecoins, Tether (USDT) has announced that it's coordinating a chain swap to transfer USDT assets from Tron's ...

Kwon said that this will let the system “absorb UST more quickly.” Meanwhile, Terra founder Do Kwon recently shared plans to restore the UST stablecoin peg. In another statement released by Tether, the firm highlighted that verified customers are still able to redeem USDT on its website. Ardoino also pointed out that the ongoing fear, uncertainty or doubt, or FUD, surrounding stablecoins is becoming a money-making stream for some traders. Apart from this, USDT also showed price fluctuations, slipping below $0.99 on many exchange platforms on Thursday. As a result, many expressed concerns over the most-traded stablecoin showing signs of struggle. we will learn from these events together.”