Tether surpasses 1600 won on domestic exchanges

Suehyeon Lee

Summary

Reported that Tether (USDT) is trading at 1635 won on domestic exchanges, an abnormal price level.
It also stated that USD1 surged 441%%, showing an anomaly in its value peg.
It reported that signs of intensifying US-China trade tensions are leading to a strengthening of investor sentiment for stablecoins.

The stablecoin (a virtual asset whose value is linked to fiat currency) Tether (USDT) is trading at abnormal price levels on domestic exchanges.

As of 6:20 AM KST on the 11th, Tether is trading at 1635 won on the domestic exchange Upbit, up 12% from the previous day.

It is not only Tether. At the same time, World Liberty Financial's stablecoin USD1 is trading at 7970 won, soaring 441% from the previous day.

Stablecoins are generally linked in value to the US dollar, a fiat currency. However, as signs emerged that US-China trade tensions may intensify that day, investor sentiment toward stablecoins, considered safe-haven assets, appears to be strengthening.

USDT

USD1