CryptoWatch: Bitcoin off slightly; stablecoin Tether regains footing, but losing popularity

Cryptocurrency prices drifted lower Monday with most major coins in the red in late afternoon trading

Bitcoin, the world’s largest digital currency, was showing small losses, with a single bitcoin BTCUSD, -0.12% last going for $6,443.94, down 0.6% since Sunday at 5 p.m. Eastern Time on the Kraken crypto exchange.

Coming off a week in which Tether, the most popular stablecoin, broke its peg to the buck, investors in the U.S. dollar-backed cryptocurrency have begun packing up shop for more stable options. A stablecoin is meant to be precisely that, stable. Most stablecoins trade at or around $1, often gravitating between 99 cents and $1.01

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