Tether Price Today - USDT Live Charts
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MarketCap$ 120,666,672,931
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Volume$ 113,611,568,420
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Change0.17%
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Updated on Apr 24, 2024
Overview: What is Tether Coin?
One of the most popular cryptocurrencies today is Tether (USDT). What is it exactly? Tether is the third-largest cryptocurrency in the world, after Bitcoin (BTC) and Ethereum (ETH). However, it’s the largest stablecoin, a group of cryptocurrencies known for their stable prices.
How Did Tether(USDT) Start?
Tether (USDT) launched in July 2014. It was initially called Realcoin and co-founded by Reeve Collins, Brock Pierce, and Craig Sellars. The first tokens became available on 6 October 2014 on the Bitcoin Blockchain. The following month, Realcoin was rebranded as Tether.
What Makes Tether Unique?
- Tether tokens aren’t mined; they are generated by Tether Limited and issued via the crypto exchange Bitfinex.
- Tether has multiple blockchain support, including Bitcoin, Ethereum, EOS, TRON, and Bitcoin Cash (SLP), ensuring easy integration and adoption.
- Regarding daily volume, USDT is among the most traded cryptocurrencies in the world, offering unparalleled liquidity.
- Tether tokens are a popular alternative to fiat gateways with their widespread adoption among digital wallet apps, exchanges, payment services, and decentralized finance (DeFi) protocols.
- Tokens are 100 per cent backed by Tether’s reserves.
- Information about tokens issued and all reserve assets is regularly updated and publicly available.
How Does Tether(USDT) Work?
Unlike most crypto coins, Tether cannot be mined. New tokens are generated and sold directly by Tether Limited or any crypto exchange supporting Tether.
As a stablecoin, Tether’s price is anchored or ‘pegged’ to the U.S. dollar. This link to a less volatile asset protects crypto holders from the wild fluctuations other cryptocurrencies are known for. It also makes Tether well-suited for trades and transactions between blockchains.
While Tether (USDT) is the most widespread asset-pegged token offered by Tether Limited, it’s not the only one. Crypto investors can choose between other fiat stablecoins like the Euro-pegged Tether EURt. There’s even a stablecoin pegged to gold.
Tether doesn’t run on its own blockchain. Instead, this cryptocurrency can be traded on and across bigger blockchain platforms like Ethereum, Polygon, Avalanche, and others.
How is the Price of Tether Determined?
As mentioned, the Tether (USDT) price is pegged to the U.S. dollar. In theory, this means that one Tether coin is equal in value to one U.S. dollar. However, a Tether token doesn’t literally represent a dollar–it’s merely a derivative of it. This means that slight fluctuations in the value of USDT are normal.
Supply and demand also affect the price of Tether. For example, when investors suddenly get rid of their Tether tokens to buy another trending cryptocurrency, the abundance of now available Tether will make the price of USDT drop. However, when volatile cryptocurrencies suddenly tank, investors might move their money to stablecoins causing the price of USDT to increase.
Where Can You Buy Tether (USDT)?
Due to the widespread use of USTD, the average investor can buy Tether tokens on most crypto exchanges. To purchase, one must first register an account with a reputable platform. For example, for those interested in Tether (USTD), Binance offers an app with easy registration. After purchase, tokens are stored in a Tether (USD) wallet. Digital crypto wallets will generate a new Tether (USDT) contract address for each transaction.
Most frequently asked questions about Tether
Is Tether a good coin to invest in?
The short answer to “Is Tether (USDT) a good investment?” is yes. As a stablecoin, it provides a stable investment opportunity, especially for novice investors who want to avoid crypto volatility.
Why is Tether so popular?
Being pegged to the U.S. dollar means its value is relatively stable. Tether also offers more liquidity than most other digital assets.
How much will the Tether coin be worth in 2025?
My USDT price prediction for 2025 is $1.101785.
Why is Tether risky?
Unfortunately, some experts believe this cryptocurrency is vulnerable to legal, security, and financial risks due to Tether’s habit of not releasing fully transparent reports.
Does Tether coin have a future?
Based on some studies, Tether is a beneficial investment in the long term, and its growing popularity might ensure good returns for investors in the next three to five years.
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BitcoinbatcatOsmosis allBTCEthereumThe Ticker Is ETHOsmosis allETHBridged Ether (StarkGate)USDCCronos Bridged USDC (Cronos)Thundercore Bridged USDC (Thundercore)Celer Bridged USDC (Oasys)Bridged USDC (Chainport)Nova Merged USDC (zkLink)Bridged USD Coin (Manta Pacific)Kucoin Bridged USDC (KuCoin Community Chain)Synapse Bridged USDC (Canto)Wormhole Bridged USDC (Fantom)LayerZero Bridged USDC (re.al)Bridged USD Coin (Linea)zkSync Bridged USDC (zkSync)CardanoBinance-Peg BUSDBUSD