Tether (USDT) Slumps by 50.00% in 24 Hours on Bybit

The cryptocurrency Tether (USDT) has experienced a significant decline in value over the past 24 hours, decreasing by 50.00% according to Bybit data. As of August 11th at 04:04 GMT+8, one USDT is equivalent to approximately 0.29596 PEN. This means that 100 PEN is currently worth around 29.59636450 USDT.

The circulating supply of Tether remains at 183B USDT. Bybit's aggregated market-maker quotes are used to provide real-time exchange rates, allowing users to convert between PEN and USDT with zero conversion fees.

Bybit's proof of reserves is verified monthly with on-chain Merkle proof, ensuring that assets held in reserve match the circulating supply. The platform also offers 24/7 multilingual support for its 86M+ users.