Is Tether on Cusp of Collapse?

Tether (USDT), the world’s biggest stablecoin, is currently in the middle of a major downtrend with its price recently dipping to $0.95. USDT is currently sitting at $0.9

Mon, 15/10/2018 - 11:40

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Tether (USDT), the world’s biggest stablecoin, is currently in the middle of a major downtrend with its price recently dipping below $0.95. At the time of writing this article, USDT is currently sitting at $0.96.

This recent trend is beyond alarming since the dollar-pegged currency doesn’t normally drop below $0.98. When it did appear in the red, it would quickly rebind to the $1 mark again (which is not the case this time).

Tether has become the lowest-performing asset among the top 10 coins. Meanwhile, Bitcoin (BTC) has recently spiked to $7,500 on Bitfinex with Tether’s recent volatility allegedly being behind this rally.

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About the author

Alex Dovbnya

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.