Tether’s peg is slipping, and an exchange-wide firesale has led to major price discrepancies between bitcoin’s BTC/USDT and BTC/USD trading pairs across the market.
In the early hours of October 15, 2018, Tether’s USDT was trading at $ 0.92, the lowest asking price the coin has seen in 18 months. At the time of writing, the stablecoin still hasn’t made up enough ground to retain its $ 1 peg. On most markets, it’s currently trading around $ 0.96, though this figure is tied to bitcoin trading pairs. Against the USD on Kraken and Bittrex, it is trading at $ 0.92 and $ 0.90, respectively.