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

  • Alex Morris
    📰 News

    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

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

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