Top Cryptocurrencies Rise on Tether Dip

Major cryptocurrencies such as Bitcoin, Ethereum, and Ripple rose around 7 percent today as US dollar-pegged token Tether dipped to around 93 cents.

 

The price increase follows a sharp downturn last week where the cryptocurrency market lost billions in market capitalization along with a two-day selloff in stock markets around the world.

 

In an email this week, Charles Hayter of CryptoCompare mentioned that many have been concerned as to whether Tether is really backed by dollars, and that it is already being delisted from a number of exchanges.

 

 

Source: CNBC