Tether
USDT📰 Headlines mentioning USDT · last 48h
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Peg / reference tracking
On peg- Current price
- $0.9992
- Reference
- $1.0000USD peg
- Deviation now
- -0.08%
- Max deviation, 30d
- —
Tether is designed to track a reference value — a fiat currency, a commodity or a fund's net asset value. Directional signals (buy/sell ratings, composite scores, trend verdicts) are not meaningful for such an asset, so they are not shown. What matters is how closely the price holds its reference and how reliable the issuer's redemption is. The chart and raw indicators remain available.
Overview
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About Tether
Tether (USDT) is ranked #3 by market capitalisation, at $180.4B. Circulating supply: 182.62B USDT. The price is 24.3% below its all-time high of $1.32, set on July 23, 2018. Categories: Stablecoins, USD Stablecoin, Solana Ecosystem, Avalanche Ecosystem.
Tether (USDT) is a cryptocurrency with a value meant to mirror the value of the U.S. dollar. The idea was to create a stable cryptocurrency that can be used like digital dollars. Coins that serve this purpose of being a stable dollar substitute are called “stable coins.” Tether is the most popular stable coin and even acts as a dollar replacement on many popular exchanges!
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According to their site, Tether converts cash into digital currency, to anchor or “tether” the value of the coin to the price of national currencies like the US dollar, the Euro, and the Yen. Like other cryptos it uses blockchain. Unlike other cryptos, it is [according to the official Tether site] “100% backed by USD” (USD is held in reserve).
The primary use of Tether is that it offers some stability to the otherwise volatile crypto space and offers liquidity to exchanges who can’t deal in dollars and with banks (for example to the sometimes controversial but leading exchange Bitfinex) The digital coins are issued by a company called Tether Limited that is governed by the laws of the British Virgin Islands, according to the legal part of its website.
Project description: CoinGecko (in English).