Tether (USDT) Recovers Most Of Market Value Lost After Terra’s Fall – Bloomberg

Tether’s stablecoin is on the verge of recovering all of the market value lost in the wake of the collapse of algorithmic rival TerraUSD less than a year ago.

The stablecoin operator had assets totaling around $81.4 billion backing its USDT token as of April 21, according to data tracker CoinMarketCap. The amount reached a peak of about $83 billion last May, when the unraveling of Terra prompted investors to dump cryptocurrencies across the board. Tether’s assets had dropped almost 20% in the second quarter of last year.