What is Tether (USDT)?
Tether also called USDT, is one of the most popular and largest stablecoins available in the market in terms of market capitalization. It is a pegged version of US Dollars and allows users to trade and exchange their fiat currencies such as US dollars) in and out of the market with ease.
The worth noticeable here is that if someone deposit X amount of US Dollar he/she will get the almost same amount of Tether across all centralized exchanges but due to high fluctuation in the market, the price of USDT can be slightly different then the price of US dollar.
Why is Tether Important
Due to the recent LUNA & TERA crisis, the most famous recent event in the cryptocurrency market, so many doubts about stablecoin are once again amplified. Especially about Tether as it is one of the largest stablecoins after the devaluation of similar Stablecoin Terra. The cryptocurrency market is sure to have a big aftermath if it happens.
Tether’s market capitalization has been on the decline since May 2022. Tether’s market capitalization, which has increased to 105 trillion won, fell to 85 trillion won as recently as July 2022. However, unlike the TERA crisis, the driver behind the decreasing price has been evaluated to be simple dollar withdrawals. Unlike TERA, Tether does not pay interest on deposits, and “does not invest deposits in risky investment products” as stated in the quarterly reports by its accountants. However, please be aware that these announcements were not based on the independent auditors’ reports.
Developers of Tether
Tether was co-founded by a team of crypto enthusiasts and software developers which include Brock Pierce, Reeve Collins, Craig Sellars. According to official site data Tether is ‘100%’ backed by Tether’s reserves and is owned by IFinex which is Hong Kong-based company that has also founded Centralized crypto exchange BitFinex.
Here are some factors that investors should consider before investing in Tether.
|Cryptocurrency Features||Tether (USDT)|
|Publisher or Developers||Tether Limited|
|Headquarters (Registration Number)||Hong Kong|
|Published Date (CMC Registration)||2015-02-25|
|Max Supply||No limit|
Reliability Score of Tether in 2023
These are indexes mesuring the investment reliability of Tether conducted by Coin-Labs.com.
|Investment Reliability Rating Items||Scores and Current Status|
|Company Activation Rate||8.5 / 10.0 CAR|
|Communication Rate||5.3 / 10.0 CR|
|Technology Transparency Rate||9.4 / 10.0 TTR|
|Development Participation Rate||5.2 / 10.0 DPR|
|Listing Status on the World's Top 10 Exchanges||Listed on 10 Exchanges|
|Number of Available Pairs Worldwide||62,788 Pairs|
|Market Cap of the Cryptocurrency||83,196,236,301 USD (Rank #3)|
Here are the price and recent trading volume of Tether. (Data of 2023-09-26 05:53:00)
|Price Items||Price and Trading Volume of Tether|
|Tether Price||1.000 USD|
|Price Change 24h||-0.01%|
|Price Change 7d||-0.04%|
|Trading Volume 24h||19,225,133,538 USD|
|Trading Volume Change 24h||55.39%|
You can check the development status and social media information of Tether through the links in the table below.
|🌎 Official Website||https://tether.to|
|📖 White Paper||https://tether.to/wp-content/uploads/2016/06/TetherWhitePaper.pdf|
|🛰️ Source Code (GitHub)|
|🎺 Message Board|
Where to Buy Tether
Here are the top ten world crypto exchanges where traders can buy Tether in 2023.
|Top10 Exchanges||Listed Status||Page URL|
Frequently Asked Questions
What is the current price of Tether?
Tether price today is 1.000 USD. Furthermore, the price of Tether has fluctuated by -0.01% from 24 hours ago, and by -0.04% from a week ago.
Where is Tether listed?
Currently, it is listed on a total of 10 among the world top 10 exchanges.
What is the market cap of Tether now?
Currently, Tether has a market cap of 83,196,236,301 USD, which is ranking 3 among cryptocurrencies worldwide.
How much is the trade volume of Tether?
Currently, 83,203,741,768 USDT coins are circulating through 62,788 market pairs. As a result, in the last 24 hours, 19,225,133,538 USD of USDT coins were traded in the market.