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Crypto Investors Remain Jittery as Bitcoin Dips to Three-Month Low and Tether Deviates from $1 Peg

June 16 (Cointime) - Bitcoin and major altcoins remained stagnant after a dip to a three-month low, causing concern among crypto investors. Tether's USDT stablecoin was knocked from its $1 peg due to market sell-offs on Uniswap and Curve pools. The US Securities and Exchange mentioned MATIC, the token of the smart contracts platform Polygon, among 19 cryptocurrencies in its lawsuits against Binance and Coinbase.

Cryptocurrencies have decoupled from US equities, which rose due to encouraging economic indicators. Vineeth Bhuvanagiri, managing director of EMURGO Fintech, compared the current market climate to 2019 and warned of potential challenges for the banking sector.

Tether USDt Tether USDt $1.00
+0.03%
Bitcoin stablecoin Polygon
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