Will Tether (USDT) trade below $0.95 at any time before 1 July 2022?
This question will be resolved using the price of Tether on CoinMarketCap.
Tether (USDT) is a cryptocurrency that is pegged to the US dollar. As a fiat-collateralized stablecoin, Tether uses the reserves it maintains to stabilize the price at $1 USD (Tether).
TerraUSD, an algorithmic stablecoin also designed to maintain a 1:1 peg with the U.S. dollar, broke its peg on 9 May 2022 (Fortune). This resulted in a collapse in value of both Terra and Luna, a token on the Terra network that meant to absorb price shocks (CNBC). Bitcoin and Ethereum, the two largest cryptocurrencies have also plummeted in value, and the broader crypto market lost $200 billion in a single day (Reuters, CNBC). On 12 May 2022, Tether (USDT) dropped to $0.95 USD before recovering (Forbes).
Tether (USDT) is a cryptocurrency that is pegged to the US dollar. As a fiat-collateralized stablecoin, Tether uses the reserves it maintains to stabilize the price at $1 USD (Tether).
TerraUSD, an algorithmic stablecoin also designed to maintain a 1:1 peg with the U.S. dollar, broke its peg on 9 May 2022 (Fortune). This resulted in a collapse in value of both Terra and Luna, a token on the Terra network that meant to absorb price shocks (CNBC). Bitcoin and Ethereum, the two largest cryptocurrencies have also plummeted in value, and the broader crypto market lost $200 billion in a single day (Reuters, CNBC). On 12 May 2022, Tether (USDT) dropped to $0.95 USD before recovering (Forbes).
Outcome
| Outcome | Final crowd forecast | Resolution |
|---|---|---|
| Yes | 1% | Did not happen |
“Final crowd forecast” is the last aggregate crowd probability computed before the question closed – the right-hand end of the chart below, which this table is the accessible equivalent of.