Tether. Price of cryptocurrency: $ 1.00057591

Tether is trading at $ 1 today with a 24-hour trading volume of $ 76,448,622,249. Tether is down 0.01% in the past 24 hours. The price of Tether today is 1.00 USD, and the trading volume for 24 hours is 152,057,246,675 USD. The crypto asset has risen by -0.04% in the last 24 hours. At the moment, the market capitalization of the coin is 130,226,006,431 USD, and has 0.00000000 coins in circulation with max. delivery of 135,485,389,441 coins USDT.

What is Tether (USDT) cryptocurrency?

USDT is a stablecoin (stable value cryptocurrency) that reflects the price of the US dollar issued by the Hong Kong-based company Tether. The pegging of the token to the US dollar is achieved by maintaining the amount of dollar reserves equal to the amount of USDT in circulation.

The creator of the first and most widely used stablecoin, Tether Limited is a platform company that issues blockchain-based assets tied to the price of government money.

Today, the Tether cryptocurrency supports four stablecoins: the US dollar (USDT), the Chinese yuan (CNHT) and the euro (EURT), as well as a stablecoin backed by 1 ounce of gold (XAUT).

USDT was launched in 2014 and the company's idea was to make government money more compatible with new crypto assets that were traded 24/7 in an active global market.

Each USDT token is exchangeable for the corresponding US dollar held by Tether Limited. The total value of all USDT is considered to be equal to the company's reserves.

Once USDT is first issued, it can be transferred, stored and spent by various resources (exchanges, wallets, financial services companies) and individual traders looking to avoid the sometimes extreme volatility of the cryptocurrency markets.

Today, stablecoins are a new class of crypto assets that are starting to find use cases outside of the trading world, including in sectors such as traditional cross-border payments.

As of 2020, USDT remains the largest and most widely used stablecoin.

However, this concept was adopted by the largest companies in the world. For example, in 2019, Facebook announced that it was trying to launch its own stablecoin called Libra.

How does Tether work?

Tether Limited accepts fiat deposits and withdrawals on behalf of customers and is responsible for issuing and disposing of Tether tokens in accordance with the reserves they manage.

Tether to Bitcoin

Tether was originally launched and released on the Bitcoin blockchain through the Omni Layer protocol, a platform used to create and trade digital assets on top of Bitcoin.

This technology allows the issuance and burning of USDT tokens depending on their quantity. The distribution of Tethers can also be tracked through the protocol.

Tether's ledger is stored on the Bitcoin blockchain thanks to Omni, and Omni Explorer allows users to view their confirmed transactions there. From 2020, USDT is also available as an asset on Liquid, the BTC sidechain.

Tether on other blockchains

Tether is now available on other blockchains, including Ethereum (ETH), Tron (TRX), and EOSIO (EOS), which allow new assets to be created natively on their blockchains.

The largest market for USDT today is Ethereum.

What makes Tether unique?

A unique feature of USDT is that the Tether cryptocurrency guarantees that its price and exchange rate will remain pegged to the US dollar. According to the company, whenever it issues new USDT tokens, it allocates the same USD amount from its reserves, thereby ensuring that USDT is fully backed by cash and cash equivalents.

The high volatility of cryptocurrency markets is known to mean that cryptocurrencies can rise or fall by 10-20% in a single day, making them volatile as a store of value. The USDT price, on the other hand, is shielded from these fluctuations.

This property makes USDT a safe haven for crypto investors: during periods of high volatility, they can place Tethers in their portfolios without having to cash out dollars entirely. In addition, USDT provides an easy way to transact USD equivalent between regions, countries and even continents via the blockchain, without having to rely on a slow and expensive intermediary such as a bank or financial service provider.

However, over the years, a number of controversies have arisen over the validity of Tether's claims of their USD holdings, at times disrupting the price of USDT, which at one point dropped to $ 0.88. Many have expressed concern over the fact that Tether's reserves have never been fully verified by an independent third party.

How many Tether coins are in circulation? What is their price and course?

At the moment, the maximum supply price of Tether is 135,485,389,441 coins USDT, 0.00000000 USDT is in circulation.

Today the price of the Tether coin is 1.00 USD, with a daily trading volume - 152,057,246,675 USD, the market capitalization price is 130,226,006,431 USD.