Community post
Why did USDT(Tether) rise over $1USD?
USDT is the native currency of Tether.to, a company that pegs the US dollar to their token. But how is it that USDT has risen over the 1 dollar mark even though it should always be worth exactly $1USD. It’s simple, if you look at the past few days there’s been a lot of talk about a bubble and with the recent correction a lot of people are exiting their cryptocurrency positions. The only time that USDT would go up in value is if the demand is so high that people are willing to pay more to exit their funds.
This is something to think about especially considering how volatile the crypto market is currently.
Replies (2)
Interesting...looks like it's becoming a confidence indicator.
Hello @ardy, nice post. I am a relatively new member and just joined the platform. It would be great if you would take a minute to look at my blog and click the follow button if you like my content. Much appreciated.