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.