Tether’s Market Cap Has Dropped by More than $1 Billion in October

Updated: 22 July 2021

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Tether (USDT), the embattled cryptocurrency token whose value is purportedly backed by US dollars, continues to see massive outflows as it struggles to maintain USD parity amid rising competition from other stablecoins launched by some of the crypto industry’s biggest names. Blockchain data from Omni Explorer shows that yesterday, on Oct. 30, Tether Limited redeemed

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Josiah Wilmoth

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Tether’s Market Cap Has Dropped by More than $1 Billion in October

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