The USDT-to-USDC market cap ratio fell to its lowest ever in July 2022.
Tether (USDT) Price Index
What is Tether and how does it work? Tether is a company that has brought multiple stablecoins to market. Tether’s stablecoins run on blockchain technology. A long-standing player in the crypto space, the entity is most known for its stablecoin USDT, which is sometimes referred to simply as Tether.
What is USDT used for? Tether’s USDT is a stablecoin — a crypto asset pegged to the price of an underlying asset and backed by equivalent value. Stablecoins are typically built to track the value of certain fiat currencies, such as the U.S. dollar (USD). Among their uses, stablecoins are often used as blockchain-based assets with more price stability than other volatile crypto assets.
USDT, specifically, is a U.S. dollar-pegged stablecoin, with each USDT token aiming to keep a price of $1. Tether stablecoins are reportedly backed 100% in value by multiple financial instruments, making USDT tokens redeemable for their U.S. dollar value. Some in the crypto space have, at times, questioned USDT’s backing. After the New York Attorney General’s Office brought a lawsuit against Tether that called its USDT reserves into question, the company (and the exchange Bitfinex) did not admit to foul play but agreed to issue public reports on its reserve makeup for a period of time, alongside other requirements. Tether has an up-to-date page on its website with evidence and data about its stablecoin reserves.
Touting itself as operating in line with regulation, Tether also has other stablecoins in addition to USDT, such as its euro-pegged stablecoin, EURT. USDT runs as a token on several different blockchains, including the Ethereum blockchain.
Tether price today
The top of the page shows a USDT to USD live price and other information, such as the USDT marketcap. Wondering how to buy Tether (USDT)? Tether has an online platform on which selected users can receive or redeem USDT, subject to certain fees and requirements, although interested parties can also buy and sell USDT on certain crypto exchanges.
Is it profitable to invest in Tether? Tether’s USDT aims for a value on par with the U.S. dollar, so an investment in USDT can be seen as storing digital dollars. As evident in the USDT price chart above, Tether’s USDT asset has fluctuated in value in the past, although the fluctuations are much smaller than seen in many other volatile crypto assets.
Tether Price News
Argentina has been in a long-standing battle against rising inflation and a continued decline of the peso against the U.S. dollar.3844
The stablecoin issuer announced its intentions of removing all commercial paper from its reserves last month as it countered rumors, and it remains on schedule so far.2956
Paolo Ardoino alleged some hedge funds are trying to create pressure “in the billions” to “harm Tether liquidity” so that they can eventually buy back tokens at a much lower price.7061
Tether expects to be part of industry innovation in the United Kingdom as the country is planning to adopt stablecoins as a means of payment.4680