Are USDT and USD market prices always equal?
No. Stablecoin price and venue liquidity affect the result.
A dollar and a stablecoin are different assets
Issuance, redemption access and market demand differ.
Local venue premiums can appear
Fiat rails, regulation and liquidity affect the price.
Inspect the normalization route
A comparison needs the timestamp and source of USDT/USD or USDC/USD.
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