What does USDT mean?

USDT is a stablecoin pegged to the value of the US dollar. Its characteristics include: stability, liquidity, and transparency. The main uses are: stabilizing cryptocurrency portfolios, transferring funds, fiat to cryptocurrency gateway. Risks and Precautions: Stability depends on Tether's reserve management and legal regulatory factors, and USDT is a centralized cryptocurrency controlled by Tether.

What is USDT?

USDT (Tether) is a stablecoin pegged to the value of the US dollar, issued by Tether Corporation.

How to understand USDT?

USDT is a cryptocurrency built on blockchain technology, and its value maintains a 1:1 ratio with the US dollar. This means that the price of 1 USDT should always be equal to 1 USD. This is accomplished through Tether’s reserves, which hold equivalent U.S. dollar assets as collateral for USDT circulation.

Features of USDT:

• Stability: Unlike other cryptocurrencies, USDT is not affected by market fluctuations and its value always remains stable.
• Liquidity: USDT is widely used in cryptocurrency exchanges, has high liquidity and can be easily traded globally.
• Transparency: Tether regularly releases audit reports showing the US dollar assets held in its reserves to ensure that USDT is pegged to the US dollar.

• Usage: USDT is mainly used for the following purposes:

  • Stabilizing cryptocurrency portfolios
  • Transferring funds between cryptocurrency exchanges
  • Acting as a fiat to cryptocurrency gateway

• Risk And note:

  • The stability of USDT depends on Tether’s reserve management.
  • The value of USDT may be affected by legal and regulatory factors.
  • Since USDT is a centralized cryptocurrency, its issuance and circulation are controlled by Tether.

As of noon on July 9, 2024, Tether (USDT) is worth $0.99999072931737, with a 24-hour trading volume of $68511763460.383. USDT price fell slightly by 0.05588812% compared to the previous day.

USDT’s circulating supply is 112207150564.86, the maximum supply is disputed, but the total supply is the same as the circulating supply. This means that all USDT currently in circulation has been minted.

USDT has a market capitalization of approximately $112206110327.98. USDT is generally considered a stable cryptocurrency due to its peg to the U.S. dollar, making it a popular choice for trading and other cryptocurrency activities.

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