Peer Stablecoins are Showing 10% Premium against a Weak Tether

A mass exodus from the most popular dollar-pegged stablecoin Tether (USDT) has led to its devaluation against peer stablecoins. USDT on Monday broke away from its historically tight link with the US Dollar to touch 85 cents across multiple crypto-exchanges. As a result, a substantial USDT volume shifted to other cryptocurrencies, including Bitcoin, raising their price in an otherwise bearish market. Among the gainers were also other stablecoins whose per token value advanced against the dollar – as well as the Tether’s USDT. USDC, TrueUSD, GUSD among Gainers Traders started…