Majority of stablecoins re-store peg as USDT dominance hits 58%

Quick Take

• Over the past few days, stablecoins lost the peg to $1; the main headline was USDC.
• USDT was trading at a premium all other stablecoins were trading at a discount to the $1 peg.
• USDT has now returned back to the $1 peg.
• USDC, BUSD, and GUSD are now roughly back at $1.
• While DAI is slightly under $1.
• USDT dominance increases to 58%, a high that was last seen back in mid 2021.

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