Tether regains dollar peg after Thursday’s bounce off
Tether has a circulating supply of $79.5 billion, down from $82.9 billion
By Yashasvini Razdan
Published - May 13, 2022, 03:01 PM ET
Last Updated - Feb 27, 2024, 02:47 PM EST
World’s largest stable coin tether, regained its dollar peg on Friday after sinking as low as 95 cents a day prior.
By Friday, tether was trading firmly at $1 again, allaying investor’s worries about a potential crypto market contagion due to the collapse of stablecoin project TerraUSD.
Slippery terra(in)
More than $3 billion worth of tokens left the system on Thursday, after another major stablecoin terraUSD plunged below 30 cents on Wednesday.
