Tether (USDT) Decouples From U.S. Dollar, Driving Bitcoin Higher
It is currently unclear why the stablecoin has experienced the 5% drop, but such action will likely spook investors given the long track record of questionable activity surrounding Tether.
The drop is significant since USDT continues to dominate the market, accounting for roughly 98% of the total daily trading volume of all stablecoins, as well as 60% of Bitcoin’s daily trading volume.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.