'Stablecoins' TUSD and PAX trading for $1,14 and higher following Tether sell-off

15 Oct, 2018
by Jelmer van der Dussen
News
'Stablecoins' TUSD and PAX trading for $1,14 and higher following Tether sell-off

With the masses leaving Tether, many traders are fleeing to other stablecoins. On Binance, the prices of two other currencies that should be worth $1 are trading way above their 'stable' dollar price. 

At the time of writing TrueUSD is worth $1,17 on Binance in the TUSD/BTC market. Regulated stablecoin Paxos, that was added to the Binance exchange recently, is trading for $1,14, but went up all the way to $1,20 in the USDT market.

Read more: What's going on with Tether? Trading as low as $0,86, 'a lot of volatility ahead'



At the same time, Tether saw its price dump to $0,96 on most exchanges, and to $0,86 in the USD market on Kraken. On Poloniex, Tether went as low as $0,50 in the market with USDC, the stablecoin of Circle. Currently it's trading just above $0,90.

Read more: Bitfinex premium on BTC up $400, USDT drops over 3% as markets pump on Monday  

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Read more about: Tether (USDT)

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