Gemini Dollar Soars Above $1 Mark While Tether Almost Regains Its Peg

News
Tue, 10/16/2018 - 19:51
Alex Dovbnya
Tether (USDT) still struggles to rebound after an onerous bloodbath, but Gemini Dollar (GUSD) has experienced a major price spike. It hit its all-time high of $1.19
Cover image via U.Today

Tether (USDT) still struggles to rebound after an onerous bloodbath, but Gemini Dollar (GUSD), another stablecoin that was launched by the Winklevoss twins, has recently experienced a major price spike. As a result, the currency hit its all-time high of $1.19. The increase, however, proved to be short-lasting — GUST is currently sitting at $1.09.

Gemini Dollar lost its peg for the first time on Oct. 15. However, now it seems very likely that it will settle around $1 in a matter of hours. While Tether is also inching closer towards the $1 mark, sitting at $0.98 at press time, the recent nosedive took a toll on its market cap that tanked to $2.2 bln.

Meanwhile, USDT, along with three other stablecoins, were listed on the KuCoin exchange yesterday.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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