What is Tether?
Tether, also called USDT, is a cryptocurrency designed to be recorded and used in a blockchain network with a 1:1 value associated with the U.S. legal currency, the dollar ($). Unlike those established in Korea, overseas exchanges do not allow deposits and withdrawals of legal currency such as the dollar. Therefore, overseas users must deposit their own dollars into a Tether Limited bank account before purchasing and utilizing Tether.
The important information here is that the amount of dollars that users deposit is the same as the amount of Tethers that users are issued. For example, if a user deposits $100, Tether Limited issues 100 tethers to provide them to the user. In addition, users can receive $100 immediately if they deposit 100 Tethers with Tether Limited.
Tether allows dollars to be used in transactions on various blockchain networks, and the value of dollars ($) can always be recognized in the blockchain world.
Why is Tether Important
Due to the recent LUNA & TERA crisis, the most famous recent event in the cryptocurrency market, doubts about stablecoin are once again amplified. Especially if Tether, currently the largest stablecoin, loses value similar to that of Terra, the cryptocurrency market is sure to have a big aftermath that can no longer be recovered. Therefore, the whole world is paying attention to whether “you are able to get a full dollar in return for depositing a Tether to Tether Limited”. This is because if Tether Limited is unable to provide payment and a bank run occurs, it could lead to another devastating incident.
Tether’s market capitalization has been on the decline since May 2022. Tether’s market capitalization, which has increased to 105 trillion won, fell to 85 trillion won as recently as July 2022. However, unlike the TERA crisis, the driver behind the decreasing price has been evaluated to be simple dollar withdrawals. Unlike TERA, Tether does not pay interest on deposits, and “does not invest deposits in risky investment products” as stated in the quarterly reports by its accountants. However, please be aware that these announcements were not based on the independent auditors’ reports.
Tether Limited, which issues Tether, strives to secure trust and credit by posting bank balances and financial remittances, which are regularly checked by accounting firms and disclosed on the Transparency page of its official website.
Developers of Tether
Tether was developed by three co-founders, Brock Pierce, Reeve Collins and Craig Sellars, of Tether Limited. Tether is published and managed by Bitfinex in Hong Kong. Tether’s first token was issued in October 2014 by the Omni Layer Protocol-based Bitcoin Blockchain, and in 2015, it was listed on Bitfinex, one of the largest cryptocurrency exchanges at the time – starting the trading of the new era.
We Coin-Labs.com provides only objective information about Tether.
Therefore, we are not responsible for the investment decision in Tether and the resulting loss.
Tether Basics
Here are some factors that investors should consider before investing in Tether.
| Cryptocurrency Features | Tether (USDT) |
|---|---|
| Publisher or Developers | Tether Limited |
| Headquarters (Registration Number) | Hong Kong |
| Symbol | USDT |
| Platform | |
| Published Date (CMC Registration) | 2024-11-01 |
| Max Supply | No limit |
Reliability Score of Tether in 2024
These are indexes mesuring the investment reliability of Tether conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | 8.5 / 10.0 CAR |
| Communication Rate | 5.3 / 10.0 CR |
| Technology Transparency Rate | 9.4 / 10.0 TTR |
| Development Participation Rate | 5.2 / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 9 Exchanges |
| Number of Available Pairs Worldwide | 102,156 Pairs |
| Market Cap of the Cryptocurrency | 96,167,130,451 USD (Rank #3) |
The table above shows the result of investment suitability evaluation for Tether.
Check out how we evaluate cryptocurrencies on the crypto rating description page.
Tether Price
Here are the price and recent trading volume of Tether. (Data of 2024-11-02 00:37:00)
| Price Items | Price and Trading Volume of Tether |
|---|---|
| Tether Price | 1.000 USD |
| Price Change 24h | 0.05% |
| Price Change 7d | 0.04% |
| Trading Volume 24h | 74,179,490,127 USD |
| Trading Volume Change 24h | 14.24% |
Cryptocurrency Metadata
You can check the development status and social media information of Tether through the links in the table below.
| Metadata Source | URL |
|---|---|
| 🌎 Official Website | https://tether.to |
| 📖 White Paper | https://tether.to/wp-content/uploads/2016/06/TetherWhitePaper.pdf |
| 🛰️ Source Code (GitHub) | |
| https://twitter.com/tether_to | |
| 🎺 Message Board |
Where to Buy Tether
Here are the top ten world crypto exchanges where traders can buy Tether in 2024.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Listed | https://www.binance.com/en/trade/BTC_USDT |
| Coinbase | Listed | https://pro.coinbase.com/trade/USDT-USD |
| Kraken | Listed | https://trade.kraken.com/markets/kraken/usdt/usd |
| KuCoin | Listed | https://www.kucoin.com/trade/BTC-USDT |
| Bitfinex | Listed | https://www.bitfinex.com/t/USDT:USD |
| OKX | Not listed | |
| Huobi | Listed | https://www.huobi.com/en-us/exchange/btc_usdt |
| Bitstamp | Listed | https://coinmarketcap.com/ko/exchanges/bitstamp/ |
| Bybit | Not listed | |
| Gate.io | Listed | https://gate.io/trade/btc_usdt |
Frequently Asked Questions
What is the current price of Tether?
Tether price today is 1.000 USD. Furthermore, the price of Tether has fluctuated by 0.05% from 24 hours ago, and by 0.04% from a week ago.
Where is Tether listed?
Currently, it is listed on a total of 9 among the world top 10 exchanges.
What is the market cap of Tether now?
Currently, Tether has a market cap of 96,167,130,451 USD, which is ranking 3 among cryptocurrencies worldwide.
How much is the trade volume of Tether?
Currently, 120,572,829,275 USDT coins are circulating through 102,156 market pairs. As a result, in the last 24 hours, 74,179,490,127 USD of USDT coins were traded in the market.
