Sudden price drop shows largest 'stablecoin,' Tether, isn't so stable after all

TwitterFacebook

I mean, it's right there in the name.

The largest so-called stablecoin by market cap, Tether (USDT), is supposedly pegged to the U.S. dollar and always worth $1. However, if there's one thing we know for sure about the world of cryptocurrency, it's that things don't always go according to plan — a fact emphasized by Tether's sudden plunge in value over the last 24 hours. 

The stablecoin briefly traded below $.87 on the exchange Bittrex before climbing back up to the still-abysmal price of $.915 at the time of this writing. 

More about Bitcoin, Cryptocurrency, Tether, Tech, and Cryptocurrency Blockchain


COntributer : Mashable https://ift.tt/2P1Yr6j

Sudden price drop shows largest 'stablecoin,' Tether, isn't so stable after all Sudden price drop shows largest 'stablecoin,' Tether, isn't so stable after all Reviewed by mimisabreena on Tuesday, October 16, 2018 Rating: 5

No comments:

Sponsor

Powered by Blogger.