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Tether

Tether

usdt

$1.001Price Change 24h: 0.07%Price data by Coingecko logoCoinGecko

Tether Price Chart

Tether Price Converter

usdt

24-Hour Range

$0.998 $1.001
LowHigh

Market Cap

Rank#3
Market Cap$112.65B
Volume$31.75B

Supply

Circulating112.54B
Total112.54B
Created on01/01/1970

All Time High

ATH$1.32
ATH Change-24.34%
ATH Date07/24/2018

Tether Price Perfomance

PeriodChange [%]LowHigh
24h0.07%$0.998$1.004
7 days0.10%$0.997$1.002
14 days0.19%$0.997$1.002
1 month0.16%$0.999$1
1 year0.04%$0.997$1.002

Tether OHLC

DatePriceNet ChangeChange [%]PriceNet ChangeChange [%]
07/09/2024Close0.999762-9.70e-5-0.01%High1.0050.00300.30%
Open0.998805-0.0022-0.22%Low0.995164-0.0031-0.31%
07/08/2024Close0.999859-0.0011-0.11%High1.002-0.0030-0.30%
Open1.0010.00160.17%Low0.9982260.00060.06%
07/07/2024Close1.0010.00100.10%High1.0050.00200.20%
Open0.999350.00290.29%Low0.9975910.00620.62%
07/06/2024Close10.00080.08%High1.0030.00100.10%
Open0.996463-0.0017-0.17%Low0.991422-0.0034-0.34%
07/05/2024Close0.9991561.70e-50.00%High1.0020.00100.10%
Open0.998185-0.0003-0.03%Low0.9948230.00010.01%
07/04/2024Close0.9991390.00050.05%High1.0010.00100.10%
Open0.998448-0.0010-0.10%Low0.994715-0.0013-0.13%
07/03/2024Close0.998667-0.0004-0.04%High1-0.0020-0.20%
Open0.9994270.00120.12%Low0.996024-0.0011-0.11%

* Price information provided by CoinGecko. Day starts at UTC 00:00

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1. What is Tether (USDT)?

Tether (USDT) is a stablecoin, a type of cryptocurrency intended to maintain a stable value. It is pegged to the US dollar, meaning that 1 USDT is designed to always be worth $1.

Tether is issued by Tether Limited, a company that asserts each USDT is backed by US dollars and other assets in its reserves. Tether is the first stablecoin ever created, and it has the largest market capitalization among all stablecoins. It was launched in 2014 by Brock Pierce, Reeve Collins, and Craig Sellars under a company now known as Tether Limited.

2. How does Tether work?

Tether operates across multiple blockchains, including Ethereum, Tron, and Omni Layer. Users can buy and redeem USDT directly from Tether Limited or trade it on various cryptocurrency exchanges. The peg of USDT is maintained through a one-to-one collateral ratio, with Tether Limited asserting that each USDT in circulation is fully backed by actual fiat currency in their reserves. Acting as a third-party custodian, Tether Limited holds the fiat currencies that back USDT.

When users deposit fiat currency into Tether Limited's bank account, the company generates an equivalent amount of USDT and credits it to the user's account, thus circulating the USDT. Users can then use USDT for transfers, exchanges, and storage. To convert USDT back to fiat currency, users deposit their USDT with Tether Limited, which then destroys the USDT and sends the corresponding fiat currency to the user’s bank account.

3. Should I use Tether?

If you’re looking to avoid the volatility typical of many cryptocurrencies, Tether can be a good choice. Its peg to the US dollar provides a stable store of value, making it useful for holding and transacting in a more predictable environment.

4. What are the risks of using Tether?

The loss of the USDT peg could occur if Tether Limited’s reserves are found to be insufficient or if confidence in the company declines. Such a scenario could lead to financial losses for holders. Furthermore, potential regulatory changes could impact the stability and usability of Tether, posing uncertain future risks.

5. What are the benefits of Tether?

Tether is widely utilized in the cryptocurrency ecosystem for several key reasons:

  • Liquidity: Tether is a highly liquid asset, allowing users to quickly and easily trade USDT for other cryptocurrencies or fiat currencies.
  • Fast Transfers: Tether facilitates rapid transfers across different blockchain networks, giving users the flexibility to move assets swiftly and efficiently.

Meanwhile, Tether Limited has faced scrutiny over the transparency of its reserves, as some question whether the reserves truly back every USDT.

Latest posts about Tether

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Tether Looks To Compete Against DeFi With Upcoming Synthetic Asset Platform 

Tether Looks To Compete Against DeFi With Upcoming Synthetic Asset Platform 

Tether launched a gold-backed USD stablecoin demonstrating its forthcoming “Tethered asset” platform, Alloy.
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abstract representations of the Telegram logo and Tether symbols, interconnected with digital lines, all highlighted against a dark background abstract representations of the Telegram logo and Tether symbols, interconnected with digital lines, all highlighted against a dark background

Tether Partners With Telegram To Bring Crypto Payments To 900 Million Users

Telegram users can now send and withdraw USDT for free.
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image depicting the tokenization of real-world assets

Tether CEO Teases Sweeping Tokenization Platform

Paolo Ardoino called it a ‘masterpiece’ but didn’t offer many details.
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Stablecoin Wars Heat Up As Circle Asks Congress To Rein In Tether

Stablecoin Wars Heat Up As Circle Asks Congress To Rein In Tether

Representatives from Circle and Coinbase are requesting U.S. legislators to empower the Treasury Department to clamp down on USDT issuer Tether.
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line and bar charts on the rise

Tether’s USDT Market Cap Hits New Record as Stablecoins Recover

USDT breached $90 billion in market cap for the first time.
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Tether's CTO Explains Why USDT is Still Not Audited

Tether's CTO Explains Why USDT is Still Not Audited

Today we are joined by Tether CTO Paolo Ardoino. We discuss Tether's banking partners, its reserve composition, its latest attestation, and why the stablecoin issuer still hasn't presented an audit. Ardoino puts some of the blame on auditing firms. ...
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Tether Reports $850M Profit In Second Quarter

Tether Reports $850M Profit In Second Quarter

Skeptics Continue To Question Quarterly Attestation Reports
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Newly Released Documents Detail Tether’s Exposure to Chinese Securities

Newly Released Documents Detail Tether’s Exposure to Chinese Securities

Media Obtain Tether’s 2021 Financials Via Freedom of Information Request.
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USDT Stablecoin Briefly Dips Below $1 as Financial Document Disclosure Looms

USDT Stablecoin Briefly Dips Below $1 as Financial Document Disclosure Looms

Tether cities “market manipulation” as the cause for the dip.
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Tether To Continue Buying Bitcoin With Profits

Tether To Continue Buying Bitcoin With Profits

USDT Issuer Held $1.5B Of BTC As Of March 31