Tether could be intervening in the markets and propping it up with reserves, similar to how banks prop up a stock for a while after IPO.
Or it could be that Tether market is still irrational. Everyone in the crypto space really wants
a stablecoin that trades for a dollar. The number of people who trade and desire to have such a coin could outnumber the more rational market participants who say it's worthless.
Tether could be intervening in the markets and propping it up with reserves, similar to how banks prop up a stock for a while after IPO.
Or it could be that Tether market is still irrational. Everyone in the crypto space really wants a stablecoin that trades for a dollar. The number of people who trade and desire to have such a coin could outnumber the more rational market participants who say it's worthless.