Tether price

Tether, which operates the biggest stablecoin, took to Twitter to reassure crypto markets after the token briefly slipped to the lowest since December 2020.

“There may be some stablecoin contagion following UST, however Tether continues to honor 1:1 redeemable ratio on their platform,” Fadi Aboualfa, head of research at crypto custodian Copper, said in an email. Tether’s brief dip underscores the unease in crypto markets after algorithmic stablecoin TerraUSD (UST) crashed from its dollar peg, forcing its backers to seek a rescue. Tether recovered to from an intraday low of 94.55 cents to trade just below 99 cents at 9:13 a.m in London, data compiled by Bloomberg show.