USDT decouples dollar, will it be next?
The slump in cryptocurrencies in recent days has left unfavorable balances with the notorious slump not only of Bitcoin and more strong currencies but also the abrupt fall of TERRA with LUNA and UST. Tether also suffered a downturn that casts doubt on its stability.
According to Criptotendencia, it lost its parity with the US dollar. It was trading at $0.95 and at the time of writing this post it had risen to $0.99. The link is here but in Spanish
Although it continues to recover little by little from the fall, it still does not return to the dollar as the largest stablecoin in the digital world should be today. This sense can be read as dramatic with the USDT of that downturn, but we are already talking about a currency that has not generated confidence for some time. Right here if you click you will have two opinion links that talk about whether the USDT is a scam or not.
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In times of tension and uncertainty, when times are down, stablecoins are the safest option to avoid losing everything, fortunately, we not only have them but also BUSD, USDC has officially confirmed that they do have strengths with the dollar parity and the IAD.
USDT has been at a high level in the market since 2014, with a market value of more than 75 billion dollars, more than 62 billion coins deposited here, 3rd in the world overall according to Coinmarketcap as of this writing. post.
In my personal opinion, will Tether fall as asked in the title? The answer is NO, at least with the strength of this currency and its direct relationship to more popular cryptos, theoretically and in practice it is difficult for it to end up in a destination like TERRA.
However, taking into account the high doubts and discord around this currency, one cannot know if it can at some point make cryptocurrencies collapse with some CEOs as they appear in the investigations taken, their bases are not truly known in how they are kept in the line with the dollar.
