Tether’s USDT Stablecoin Slips From $1 Peg

Tether's USDT Stablecoin Slips From $1 Peg

Altcoins

Stablecoin Tether USD (USDT) changed hands below $0.993 early Thursday, down 0.6% from its intended $1 peg as traders considered contagion risks from crypto exchange FTX and its related trading arm Alameda Research.

  • USDT usually trades between $0.999 and $1.01. Data from Kraken, Binance, Coinbase and OKX show the stablecoin currently trading in the $0.992-$0.993 range at the four venues.
  • USDT previously reached such price levels during May’s implosion of Terra and its related UST stablecoin.

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