Tether’s Price Has Stabilized, But the Stablecoin’s Supply Is Still Shrinking

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In what’s become a rarity over the past month, the price of the tether (USDT) stablecoin temporarily regained parity with the U.S. dollar Wednesday.

The token traded in the $1.00-$1.01 range for the better part of an hour, according to CoinMarketCap. At the time of writing, it is trading around $0.987.

The exchange rate has been steadily climbing towards its $1.00 target since the stablecoin – by far the most popular among a slew of rivals – dramatically lost parity with the dollar in mid-October, falling as low as $0.85 on the Kraken exchange, one of relatively few where traders can sell USDT directly for dollars.

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