Chart of The Day: USDT Depegs Briefly
During Asia hours today, USDT saw a depeg from $1 to $0.945 at its lowest point on FTX. This did not last long and has since repegged back at $1. USDT was being sold off and USDC was being bought, causing the USDC to rise to a peak of $1.06. USDC/USDT was trading at ~1.1 at the peak of the depeg.