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
Facebook shuts down cryptocurrency project Libra
The company first announced the launch of Diem (formerly Libra) in 2019, but regulatory pressure prevented Facebook from implementing its plans.
Coinbase will support USDC
On October 23, the most famous cryptocurrency exchange Coinbase announced that it will begin supporting the USDC stablecoin. All Coinbase users can now trade USDC on the official website.
