Will Tether (USDT) trade below $0.95 at any time before 1 July 2022?
Started
May 19, 2022 04:00PM UTC
Closed Jul 01, 2022 03:59AM UTC
Closed Jul 01, 2022 03:59AM UTC
Topics
Seasons
This question will be resolved using the price of Tether on CoinMarketCap.
Tether (USDT) is a cryptocurrency that is pegged to the US dollar. As a fiat-collateralized stablecoin, Tether uses the reserves it maintains to stabilize the price at $1 USD (Tether).
TerraUSD, an algorithmic stablecoin also designed to maintain a 1:1 peg with the U.S. dollar, broke its peg on 9 May 2022 (Fortune). This resulted in a collapse in value of both Terra and Luna, a token on the Terra network that meant to absorb price shocks (CNBC). Bitcoin and Ethereum, the two largest cryptocurrencies have also plummeted in value, and the broader crypto market lost $200 billion in a single day (Reuters, CNBC). On 12 May 2022, Tether (USDT) dropped to $0.95 USD before recovering (Forbes).
Resolution Notes
Lowest price was $0.9987, per https://coinmarketcap.com/currencies/tether/
| Possible Answer | Correct? | Final Crowd Forecast |
|---|---|---|
| Yes | 0.94% | |
| No | 99.06% |
Crowd Forecast Profile
| Participation Level | |
|---|---|
| Number of Forecasters | 76 |
| Average for questions older than 6 months: 60 | |
| Number of Forecasts | 178 |
| Average for questions older than 6 months: 222 | |
| Accuracy | |
|---|---|
| Participants in this question vs. all forecasters | better than average |
