Tether News USDT

It's hard to imagine the cryptocurrency market without Tether. Tether offers many benefits, from making it easier to convert real money to digital currencies and providing additional transaction flexibility as a dollar alternative to helping investors hedge against falling digital currencies without converting to fiat currencies. Tether also helped produce a new class of stablecoins, making USDT one of the most widespread cryptocurrencies in the market.

  • Tether price( USDT )

    $0.9991 0.02%

  • Market cap $

    139,301,760,782

    Maximum supply

    N/A

  • Trading volume 24 Hour

    102,003,090,055

    Circulation supply

    139,427,879,732.05
No data

You can learn more about Tether USDT Through the following points

Tether (USDT) is a stable-value cryptocurrency created to maintain stable price evaluations for other digital currencies, in contrast to the significant price fluctuations observed with popular digital currencies like Bitcoin or Ethereum. It is used as a medium of exchange and a store of value, rather than for investment or speculation. Tether aims to be the necessary bridge between fiat currencies like the euro and the US dollar and digital currencies like Bitcoin and Ethereum, providing stability, transparency, and minimal transaction fees. Tether is pegged to the US dollar, maintaining a 1:1 value ratio with the USD. However, Tether does not guarantee any right to redeem or exchange Tether for real money. Notably, a recent study found that trading Bitcoin to Tether still represents the majority of BTC trades against either fiat or stable currencies. In February 2021, 57% of all Bitcoin trades were made using USDT. Tether remains a major source of liquidity in the cryptocurrency market.
Tether was launched in July 2014 by three founders: Brock Pierce, an entrepreneur involved in several cryptocurrency ventures; Reeve Collins, Tether's CEO for its first two years; and Craig Sellars, a member of the Omni Foundation and involved with various other cryptocurrency projects like Bitfinex and Factom. Tether was initially created as 'Realcoin,' a second-layer cryptocurrency token on the Bitcoin blockchain using the Omni platform. It was later renamed USTether, and finally USDT. The USDT network has been updated to work on blockchains like Ethereum, EOS, Tron, Algorand, and OMG.
Cryptocurrency market volatility can see prices rise or fall by 10-20% in a day, concerning investors and speculators. Tether's role is to protect against this volatility. Stablecoins like Tether use crypto reserves as collateral, although they are not guaranteed. They function similarly to how a central bank maintains currency, providing a digital cash cover to maintain digital currency supplies. According to Tether, each USDT token issued is backed by an equivalent amount of USD, ensuring that USDT is fully backed by cash or cash equivalents. This feature makes Tether a safe haven for cryptocurrency investors during extreme volatility, allowing them to hold it as a currency within their wallet without converting to USD. Additionally, Tether provides a simple way to deal with USD equivalents across blockchain networks without relying on slow and expensive financial intermediaries like banks.
No, Tether (USDT) cannot be mined as its tokens are pegged to the USD value, and mining contradicts its purpose. There is no cryptographic limit on its total supply, as issuance is limited to Tether's policies. Each Tether is supposed to be backed by one USD, so the number of tokens issued is limited by actual USD reserves. In September 2020, Tether announced over 14.4 billion USDT in circulation, backed by $14.6 billion in cash equivalents.
Tether can be obtained in two ways: earning it as a reward or buying it from a cryptocurrency exchange. The free method involves earning rewards from certain websites by performing specific tasks, such as surveys, watching ads, or playing video games. The other method is the usual way of buying USDT from numerous cryptocurrency exchanges, where its trading volume is equal to or exceeds Bitcoin's daily trading volume, making it widely available even on exchanges that don't offer some other cryptocurrency pairs, as it is a viable USD trading alternative.
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