What is Tether?
Tether, also called USDT, is a cryptocurrency designed to be recorded and used in a blockchain network with a 1:1 value associated with the U.S. legal currency, the dollar ($). Unlike those established in Korea, overseas exchanges do not allow deposits and withdrawals of legal currency such as the dollar. Therefore, overseas users must deposit their own dollars into a Tether Limited bank account before purchasing and utilizing Tether. The important information here is that the amount of dollars that users deposit is the same as the amount of Tethers that users are issued. For example, if a user deposits $100, Tether Limited issues 100 tethers to provide them to the user. In addition, users can receive $100 immediately if they deposit 100 Tethers with Tether Limited.
Why is Tether Important
Due to the recent LUNA & TERA crisis, the most famous recent event in the cryptocurrency market, doubts about stablecoin are once again amplified. Especially if Tether, currently the largest stablecoin, loses value similar to that of Terra, the cryptocurrency market is sure to have a big aftermath that can no longer be recovered. Therefore, the whole world is paying attention to whether “you are able to get a full dollar in return for depositing a Tether to Tether Limited”. This is because if Tether Limited is unable to provide payment and a bank run occurs, it could lead to another devastating incident.
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 developed by three co-founders, Brock Pierce, Reeve Collins and Craig Sellars, of Tether Limited. Tether is published and managed by Bitfinex in Hong Kong. Tether’s first token was issued in October 2014 by the Omni Layer Protocol-based Bitcoin Blockchain, and in 2015, it was listed on Bitfinex, one of the largest cryptocurrency exchanges at the time – starting the trading of the new era.
The primary characteristics of Tether are as follows.
|Cryptocurrency Features||Tether (USDT)|
|Publisher or Developers||Tether Limited|
|Jurisdiction of Incorporation (Registration Number)||Hong Kong|
|Published Date (CMC Registration)||2015-02-25|
|Max Supply||No limit|
Investment Suitability of Tether in 2022
The results of the Tether investment suitability evaluation conducted by Coin-Labs are as follows.
|Investment Suitability 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 Top 4 Exchanges in Korea||Listed on 0 Exchanges|
|Listing Status on the World's Top 10 Exchanges||Listed on 9 Exchanges|
|Number of Available Pairs Worldwide||42,672 Pairs|
|Market Cap of the Cryptocurrency||87,255,534,421,357 KRW (Rank #3)|
The price and recent trading volume of Tether are as follows. (Data of 2022-11-27 22:18:17)
|Price Items||Price and Trading Volume of Tether|
|Tether Price||1,334.944 KRW|
|Price Change 24h||0.02%|
|Price Change 7d||-0.27%|
|Trading Volume 24h||35,586,438,783,799 KRW|
|Trading Volume Change 24h||8.85%|
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|
Korean Crypto Exchanges where Tether is Listed
Korean crypto exchanges where Tether is listed in 2022 are as follows.
|Top4 Exchanges||Listed Status||Page URL|
World Crypto Exchanges where Tether is Listed
World crypto exchanges where Tether is listed in 2022 are as follows.
|Top10 Exchanges||Listed Status||Page URL|
Frequently Asked Questions
What is the current price of Tether?
Tether price today is 1,334.944 KRW. Furthermore, the price of Tether has fluctuated by 0.02% from 24 hours ago, and by -0.27% from a week ago.
Where is Tether listed?
Currently, it is listed on a total of 0 among the 4 largest exchanges in Korea, and is listed on a total of 9 among the world top 10 exchanges.
What is the market cap of Tether now?
Currently, Tether has a market cap of 87,255,534,421,357 KRW, which is ranking 3 among cryptocurrencies worldwide.
How much is the trade volume of Tether?
Currently, 65,362,681,003 USDT coins are circulating through 42,672 market pairs. As a result, in the last 24 hours, 35,586,438,783,799 KRW of USDT coins were traded in the market.