Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo
Seeking Alpha 2022-02-24 18:18:32

Tether stablecoin jumps over $1 on Ukrainian crypto exchange amid Russia invasion

Tether (USDT-USD) stablecoin on Thursday is gaining above $1 in a rare move that comes in the wake of Russia-Ukraine tensions. Note USDT is the largest stablecoin with a $79.5B market cap, followed by USD Coin (USDC-USD) valued at over $53B and Dai (DAI-USD) at $10.15B. The price of USDT on Ukrainian cryptocurrency exchange Kuna is rising to 31.90 hryvnia, which is equivalent to $1.09 per USDT even though it's supposed to be pegged at $1 (29.48 UAH). The only other time investors paid a hefty premium over the U.S. dollar for USDT was at the onset of the Covid-19 pandemic in March 2020. Looking at Binance, the world's largest digital asset exchange, the USDT/UAH pair is climbing nearly 7% to 31.83 hryvnia ($1.07). In mid-February, U.S. Treasury's Nellie Liang said there is a risk that stablecoins are not backed dollar-for-dollar.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.