Some cryptocurrencies have managed to overcome the difficulties generated by the crypto winter and are struggling to maintain their parity against the dollar.
Around 2 billion Tether (USDT) were redeemed in the last two weeks for other cryptocurrencies, including USD Coin (USDC).
Loss of parity for dollar-pegged stablecoins is becoming more and more frequent, due to mistrust and pessimism.
Stablecoins have not been able to escape the cryptocurrency crisis this year, which worsened after the collapse of the FTX exchange. The tokens that maintain their parity against the dollar have also lost confidence among institutional investors.
However, in the last two weeks USD Coin (USDC), the stablecoin issued by the American company Circle Financials Ltd., has been challenging its rival, Tether (USDT), for leadership in the sector.
During this period there has been a sell-off of USDT exceeding $2 billion, according to data from CoinMarketCap. Meanwhile, the USDC supply has grown fro
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