The Gemini dollar has broken its peg, climbing to an all-time high of $1.19 on Tuesday. ow.ly/UXN530mfYgV
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This was the argument I made during my -Tether reporting— significant demand should drive a stable coin up in secondary markets — and people were like you’re crazy
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Problem is the price there is USDT, not USD. So, it’s reflective of a discount on one asset, not a premium on the other.
The premium is to $1 (the peg), not tether. Did you cash in some USDT reserves yet?