Winklevoss-Backed Stablecoin Soars Above $1 as Tether’s Market Cap Plunges

A second stablecoin has broken its peg with the U.S. dollar – except this one’s soaring well above a buck, not tanking below it.

According to data from CoinMarketCap, the Gemini exchange-issued Gemini dollar (GUSD) saw its price hit an all-time high of $1.19 Tuesday after first breaking its dollar peg on Monday, when it shot up to $1.14. At press time, the token was trading at $1.18.

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