According to TradingViev, USDT fell to $0.99883, down 0.2%.
Curve 3Pool is one of the leading pools for stebylcoin trading. In Curve 3Pool each of USDT, USDC and DAI must account for one third of all funds. However, suddenly the balance of USDT increased by 70%. This could mean that the USDT was actively selling and this caused the USDT to decouple from the U.S. dollar.
Paolo Ardoino, Tether’s technical director, said that some kind of miscreants are capitalizing on the general mood of the market;
“Markets are nervous these days, so it’s easy for miscreants to capitalize on this general mood. But at Tether we are ready, as always. Let them come.. We are capable of buying back any amount,” the top executive wrote on Twitter.
Tether regularly publishes documents showing that USDT is capable of providing a peg to the dollar. In June, the company said Tether’s capitalization had reached a record high and now stands at $83.2 billion
According to the company’s latest USDT Stablecoin issuer certification for February 2022, the company’s consolidated assets exceeded its consolidated liabilities by $140 million. At the beginning of May 2022, the capitalization of USDT renewed the previous record, amounting to $83 billion.