USDT Price Today
The live Tether price today is $1.0041 with a 24-hour trading volume of $1,156,086,079.91. Tether is -0.04% in the last 24 hours.The current MyToken ranking is #3,with a live market cap of $71,074,309,076.13. It has a circulating supply of 70,883,728,837 USDT and a max supply of 70,883,728,837 USDT.
What Is Tether?
USDT is Tether's token based on stable value currency (USD). Tether was one of the first cryptocurrencies to link its market value to fiat currency. Tether, launched in July 2014 and originally called "Realcoin", sets the value of each token at $1.00 to reduce the friction of moving real money around the entire cryptocurrency ecosystem. 1USDT=1 US dollar, and users can exchange 1:1 between USDT and USD at any time.
Teda is a virtual currency that links a cryptocurrency to the U.S. dollar, the legal tender. Each Teda coin is symbolically linked to a government-backed legal tender. Teda is a virtual currency that is stored in a foreign exchange reserve account and supported by legal tender. This method can effectively prevent the price fluctuation of cryptocurrency. Basically, the value of a Teda coin is equal to 1 US dollar. Tether and other similar cryptocurrencies are known as "stabocoins" because of the company's strict 1:1 reserve guarantee for each US issued. Tether, the largest stablecoin by market capitalization, allows users to exchange USDT for U.S. dollars and conduct money inquiries on the Tether platform to ensure transparency.
Tether is the best solution for bitcoin traders and exchanges facing the difficulties of traditional banking. USDT is a cryptocurrency asset implemented through the Omni layer protocol for conducting bitcoin blockchain transactions. Each USDT unit is backed by a Tether dollar deposit, which can be redeemed through the platform. USDT can be used to transfer, store, pay for consumption, etc. Just like Bitcoin or any other cryptocurrency, users can make transactions and USDT deposits between wallets that support Omni layer protocols such as Ambisafe, Holy Transaction or Omni Wallet.
USDT and other Tether currencies are all set up to speed up the circulation of national currencies, to provide users with a stable currency of consideration for Bitcoin, and to support cash exchange and currently untrusted wallet value auditing. USDT provides an alternative proof of solvency through value reserves assurance.
Under the Tether Reserves proof system, the recycling of USDT can be easily checked on the Bitcoin blockchain through the OmniExplorer. Info tool, while the total amount of US dollars held as endorses can be verified by publishing bank balances and periodic professional partial audits.
Anyone can see how the USDT is being recycled at omniExplorer.info. The total amount of USDT at any point in time represents the total amount of DOLLARS in Tether's current bank account, which will be responsible for cash purchases and acceptance on Tether.
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