(Coindesk) Tether’s USDT exchanged hands at $0.97 in Asian hours on Thursday, becoming the next stablecoin to lose its dollar parity in a market turmoil.
The fall in Tether’s peg happens amid a contagion of risks that have gripped stablecoins lately. Previously, TerraUSD or UST fell to a low of up to 22 cents against the intended $1 peg level.
Following the lost peg, Tether said that it will coordinate with a third party for a chain swap to restore the parity. Tether said that the supply of the stablecoin will remain unaffected.
Tether CTO Paolo Ardoino said that it would continue to honor USDt redemptions at $1.
BTCUSD is down -4.74%, LUNAUSD is down -96.41%.
