Tether breaks through the $ 1 bond, while pressure on the largest stable coin in the world increases

tether was increasingly under pressure on Thursday and pressed the price of one of the most important assets on the global cryptoma markets significantly below his $ 1 marking.

The 80 billion dollar StableCoin, which is supposed to imitate the value of $ 1, fell to 95.11 cents on Thursday early on the European trading day, as can be seen from a cryptocompare index that depicts trading on the world's leading stock exchanges for digital assets.

stablecoins claim to offer crypto dealers a safe place where they can park their money between bets on volatile cryptocurrencies. Tether, by far the largest stable coin in the world, plays a crucial role in facilitating the trade in the cryptom market and also establishes a connection to the traditional financial system.

The decline in Tether's price at more than 3 percent below his $ 1 bond crashed into the market for digital assets. Bitcoin, the most active cryptocurrency, fell by almost 7 percent to $ 26,250, the lowest level since December 2020.

The decline of Tether comes after Terrausd, a much smaller stable coin, has completely removed from its bond with the dollar. In contrast to Terrausd, Tether claims to be covered by a basket of dollar-based assets. However, his supporters refused to provide detailed information about his participations.

The group was occupied by the US Commodity Futures Trading Commission last year with a fine of $ 41 million because it was claimed that it had made misleading statements from at least June 2016 to February 2019 that they had sufficient dollar reserves to cover each of their stable coins.

The supervisory authorities have stable coins that are largely unregulated in most markets as a risk of financial stability. The Federal Reserve said at the beginning of this week that only three stable coins, Tether, USDCoin and Binance $ 80 percent of the 180 billion dollar market.