Price of Tether Stablecoin Tanks to 18-Month Low

The price of the tether stablecoin (USDT) has fallen to an 18-month low Monday, despite a general rise in the wider crypto markets.

The tether-US dollar exchange rate (USDT/USD) fell to $0.925284 at 07:00 UTC – the lowest level since April 27, 2017 – and was last seen trading at $0.967296, representing a 2 percent drop on a 24-hour basis, according to CoinMarketCap.

The slide in the USDT price has pushed up the premium carried by bitcoin (BTC) prices on the Bitfinex exchange above $600.

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