What is Tether?
Tether is a Hong-Kong based company that developed the stablecoin USDT to combine the U.S. dollar’s stability with the unrestricted elements of cryptocurrencies. USDT is unique in that Tether explicitly created it to remain tied to the U.S. dollar value. This tie protects it from the massive fluctuations that other cryptocurrencies can undergo daily, making USDT a safer option for crypto investors.
Because USDT is tied so closely to the U.S. dollar, it provides those using it with a safe, simple way for transactions based on a U.S. dollar equivalency to occur between countries. This has eliminated the need for third-party intermediaries- like banks- to be involved in such transactions, effectively making the process quicker and less expensive. USDT is currently ranked as #4 by CoinMarketCap and is available for purchase on multiple cryptocurrency exchanges, including Binance and HitBTC.
Created by Reeve Collins, Brock Pierce, and Craig Sellars, USDT was known originally as Realcoin at its launch in 2014. It was later renamed USTether, before eventually becoming USDT. As a cryptocurrency, USDT was initially built to work off Bitcoin’s blockchain through the Omni platform. It has since been updated to work off of the blockchains of EOS, OMG, Bitcoin Cash, Tron, Algorand, and Etherum as well. USDT does not possess a blockchain of its own and instead acts on top of other cryptocurrencies’ blockchains as a type of second-layer token.
Because Tether is a private company with its own policies, there is no apparent limit on its total supply of USDT. Given its connection to the U.S. dollar, however, the amount of USDT tokens in circulation is limited by Tether’s financial reserves. According to Tether, over 14.4 billion tokens of USDT are currently in circulation, and they are backed by $14.6 billion worth of company assets.
What are Tether Frequenty Asked Questions?
Where does Tether (USDT) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Tether currently ranks in position 3 out of the thousands of cryptocurrencies. It is also important to consider Tether‘s market cap – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Tether has a market cap of $ 24,840,993,097, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 629,991,389,539, Litecoin at $ 9,457,691,635, Ethereum at $ 160,381,817,618, Tether at $ 24,840,993,097, and XRP at $ 12,503,930,213.
What is the price of Tether (USDT) today (updated in realtime)?
The current price of Tether is $ 0.996734 in USD. (The price in Euros is 0,818706 €; and the price in Bitcoin is Ƀ 0.00002900 BTC.)
How has Tether (USDT) performed recently?
Tether‘s price has decreased in the last 24 hours by -0.19%. This compares with a seven day change of -0.15%. The trading volume over the last 24 hours was $ 85,433,531,866. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It can be a good indicator of the general interest in the cryptocurrency.
What is Tether (USDT) official website?
Links to Tether‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
Has Tether (USDT) performed well historically?
Here is a chart showing how Tether has performed historically.
Where Can I Buy Tether (USDT)?
Here is a breakdown of the current market prices from top cryptocurrency exchanges.
Charts & Market Data
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