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Benzinga
Benzinga
Business
Adrian Zmudzinski

Tether Untethers From Dollar: Are The Fears Justified?

UST TER blockchain Crypto TerraUSD

Leading stablecoin Tether (CRYPTO: USDT) saw its value fall as low as 95 cents — possibly a price not seen since 2017 — after Wednesday's collapse of TerraUSD (CRYPTO: UST) and its native protocol Terra (CRYPTO: LUNA) spurred fears of stablecoin instability.

What Happened: Tether's value dropped by about 5% on Thursday, as shown by market data, which follows the collapse of the TerraUSD stablecoin so closely that it is most probably a consequence of fears it may face a similar fate.

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