Against the backdrop of Bitcoin falling to $25,000, the price of the stablecoin USDT tested the level of $0.94.
At the time of writing, USDT is trading around $0.96.
Technical Director of the Tether issuer Paolo Ardoino said that the company’s reserves are enough to buy all assets in a 1:1 ratio to the dollar USA.
Ardoino recalled that Tether exchanges assets for American dollars in a 1:1 ratio through the tether.to portal. The minimum redemption amount is $100,000.
At the same time, USD Coin (USDC) and Binance USD (BUSD) look relatively stable. At the time of writing, they are trading almost 4% above their rival. However, at the moment the spread in the USDC/USDT and BUSD/USDT pairs reached 13% and 10%, respectively.
Subscribe to ForkNews in Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
The oldest bank in Germany will issue a stablecoin on the Stellar network
The first regulated stablecoin pegged to the euro will be issued by one of the oldest banks in the world - Bankhaus von der Heydt (BVDH)
Tether has stabilized, but not for long
USDT temporarily restored parity with the US dollar tonight. Amid growing competition from other stablecoins launched on behalf of major players in the crypto industry, Tether continues to fight with massive buybacks of previously issued tokens.
