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
Swiss Crypto Tokens has released a stablecoin pegged to the franc
Switzerland has issued new bonds that will help investors and blockchain startups mitigate the risks of cryptocurrency volatility. Swiss Crypto Tokens AG has issued a token backed by bonds pegged to the Swiss franc.
Bloomberg: Tether has sufficient fiat reserves
There has been a lot of controversy surrounding the stablecoin Tether lately. This digital stablecoin is used as an equivalent to the US dollar. In theory, 1 Tether is attached to 1 US dollar. New Bloomberg research proves that the current balance of Tether fiat accounts is equal to or even greater than USDT, which was in circulation from September 2017 to July 2018.
