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

From coindesk.com

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. The GUSD was released in early September, when the exchange, founded by Cameron and Tyler Winklevoss, announced it had secured approval from the New York Department of Financial Services to list and issue the dollar-pegged token. At the ... (full story)

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  • Category: Fundamental Analysis