Tether: With UST gone and USDD struggling, is USDT next in line

With UST mixed into the dust and USDD struggling to keep up; could Tether be the next in line for the stablecoin massacre? The crypto market volatility has ramped up pressure on stablecoins recently after Celsius froze account transactions.

Timeline of Usdd, Tether, Terrausd-wormhole

After a steady drop in its price over the past few weeks, Tether continues to be at the center of the debate around stablecoins. Earlier this week, Tether market cap shrunk below the $70 billion level.

Once the 3rd largest stablecoin, TerraUSD (UST) has shaken the entire stablecoin market after it collapsed on May 9. The post How the UST crash changed the stablecoin landscape appeared first on CryptoSlate.

The company behind Tether (USDT) is pushing back on rumors about the reserves composition of the largest stablecoin by market capitalization. In a new statement, Tether denies claims that 85% of its commercial paper holdings are backed by Chinese or Asian commercial papers and are being traded at 30% off. “These rumors are completely false The post Tether (USDT) Issuer Says Rumors About Its Reserves Composition Are ‘Completely False' appeared first on The Daily Hodl.

Investors recently sold over $1.6 billion of Tether (CRYPTO: USDT), dropping its market capitalization to $70 billion. What Happened: On the heels of a cryptocurrency crash, Tether saw an outflow of $1.6 billion of funds.

Cryptocurrency exchange AAX is kicking off “Crypto Summer” with fun-filled crypto trading events that aim to disperse the doom and gloom of the emerging “crypto winter” with the prospect of some tantalizing rewards.  The wider cryptocurrency market has been in a tailspin lately as the value of digital assets falls amid fears of rising inflation … Continued The post AAX to Share 1M USDT Rewards Through Fun “Crypto Summer” Events appeared first on BeInCrypto.

Despite recent efforts by the Tron DAO to overcollateralize the token, Tron's algorithmic stablecoin USDD appears to be in crisis. During market turbulence, the theoretically stable USDD token lost its peg to the US dollar. The coin is now trading for $0.98, according to reports. TRX also dropped more than 25% from June 13 to …

According to FSInsight, a combination of economic pressures and over-leveraged yield plans has caused the forceful selling of cryptocurrencies in the previous few days. This has wiped off more than $200 billion in revenue from the digital asset market. Head of digital asset strategy, Sean Farrell, noted that “The decline of terraUSD (UST) and Celsius …

Following the cryptocurrency market turmoil, the total supply of stablecoins has fallen quite significantly. This reportedly marks Q2 of 2022 as the first time in crypto history where the overall supply of stablecoins has decreased.

Investors are filing a class-action lawsuit against Binance's American arm, Binance.US, for allegedly falsely advertising investments in the algorithmic stablecoin TerraUSD (UST) as “safe.” Last month, algorithmic stablecoin UST lost its peg to the US dollar and collapsed along with its affiliated asset Terra (LUNA), wiping out $40 billion in crypto market capitalization. The investors, The post Investors Hit Binance.US With Class Action Lawsuit for Allegedly Misleading Customers About TerraUSD (UST) appeared first on The Daily Hodl.

Tether's day of reckoning could be approaching, and if the top stablecoin issuer cannot calm years-long doubts about the state of the cash reserves backing its dollar peg, an $80 billion run could be coming. With the cryptocurrency market already nearing panic, a run on Tether's USDT stablecoin would be catastrophic, with the potential to