Tether Value Surges to New High on Bybit

The value of Tether (USDT) surged over the past day, reaching a new high. According to Bybit data, one USDT is now worth approximately $911.6656727772435 Chilean Pesos (CLP), representing a 100% increase in value.

This significant jump has left some investors wondering about the cause of this sudden spike. However, it's essential to note that Bybit verifies its reserves through on-chain Merkle proof every month and charges zero conversion fees for USDT conversions.