Stablecoins are shaky as USDT shows signs of depeg
As the crypto market’s volatility continues, the total stablecoin market capitalization declined by 0.25% over the past 24 hours, with an average price change of 0.71%. The downward movement comes after the largest stablecoin by market cap, USDT, shows signs of depeg . USDT’s price fell by 0.23% over the past 24 hours and plunged to a local bottom of $0.997 after the asset lost roughly $270 million of its market capitalization. USDT price – June 15 | Source: Trading View However, data from Binance shows that USDT is back to the $1 mark, while Trading View’s data suggests otherwise — displaying a price of $0.9974 at the time of writing. You might also like: Binance’s Cyprus unit files for deregistration USDT to USD price chart – June 15 | Source: Binance On the other hand, USDC’s market cap has risen by over $40 million since USDT lost its peg to the US dollar. USDC’s 24-hour trading volume has also risen by 60% over the past day. DAI and BUSD have also w...