On this page, you will find the price of Tether (USDT) as of today, a live chart, USDT to USD calculator, and more.
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What is Tether?
Tether (USDT) is a stablecoin which was created by Brook Peirce, Craig Sellars, and Reeve Collins. A stable coin is a crypto that pegs its market value to external references, usually fiat currency like the US dollar or the price of a commodity like gold.
What this means is that the USDT is designed to always stay pegged to the dollar. So for example, holding $500 worth of tether or USDT gives you 500 in US Dollars (USD).
By market value, Tether (USDT) is the fourth largest cryptocurrency in the world (by the time of writing). It has always been a constant source of controversy in the digital asset world. However, one reason crypto enthusiasts flock around it is because of its almost zero fluctuations.
What Drives the Price Of Tether?
Economists, the Federal Reserve, and crypto experts express concern about how a cryptocurrency pegged to fiat like the USD will affect the dollar and Bitcoin. Some experts also feel it doesn’t have enough dollar reserves to justify pegging its USDT coin to the dollar.
But one thing is sure; tether makes trading easier for crypto traders. So when the value of other cryptos swings, the price of the USDT is equivalent to $1. While this is what happens most of the time, there are times when it isn’t the case.
There is over $19 billion worth of USDT in circulation in the world today. Again, being a stablecoin eliminates the need or the possibility to mine Tethers. The cryptocurrency is pegged to the US dollars, so the price of USDT is always $1 to USDT1.
However, certain factors can affect the volume of tether in circulation. One of such factors is negative news surrounding the genuineness of the coin. Such news may make holders sell off in a panic.
Beside that, a general dip in the crypto market or in Bitcoin may see a sharp decline in the volume of USDT in circulation. Unlike most cryptocurrencies like Bitcoin or Ethereum, Tether has no high energy consumption cost
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