Stablecoins fall below Dollar parity as turbulence impacts entire market

The ongoing turmoil in the crypto markets is now impacting stablecoins as USDT, USDC, DAI, and GUSD all drop to around $0.998. The only significant stablecoin not currently affected by the market volatility is Binance USD.

USDT has fallen below its Dollar peg to $0.998 across all exchanges, its lowest level since June. Circle’s USDC has also dropped to a similar level, trading at $0.998, a price not seen since May.