USDT Price usd_tether Price today

USDT tether

Go trade

the website

＄0.9999 +0.02%

Glob. Mkt Cap Rank： No.3

2024-08-07:09:36:36update

24H High

7.2795

24H Turnover

2.76千亿

Max Supply

0.0

24H TR

33.76%

24H Low

7.27

24H Vol

37999613146

Curr. Issued

112392062235.0

24H High-Low

+0.13%

ATH

7.89

Highest Mkt Cap

8.18千亿

Circulating Supply

112392062235.0

Dominance

5.22%

ATL

6.60

Mkt Cap (Float)

8.18千亿

Circulating Supply

Issue Date

2014-11-26

Introduction

Latest News

News Flash

Basic information

Full Currency Name	泰达币/USDT
Currency Code	USDT
Coin Intro	"Tether (originally known as Realcoin) issued USDT, a stable digital currency fully collateralized by the US dollar on a 1:1 ratio, also known as Tether USD or simply Tether. USDT was launched in February 2015 and became available on exchanges such as Bitfinex and Poloniex. As of now, there are 4,270,057,493 USDT in circulation. In Tether Whitepaper: A Fiat Currency Token Utilizing the Bitcoin Blockchain for Transactions, Tether defines itself as: “Tethers are fiat-collateralized cryptocurrencies, initially issued as tokens on the Bitcoin blockchain via the Omni Layer protocol. Each Tether token in circulation is pegged to one US dollar, with the corresponding total amount of dollars held in reserve by Tether Limited in Hong Kong. According to Tether Limiteds terms of service, holders can redeem/exchange their Tethers for equivalent fiat currency or Bitcoin. The price of Tether remains pegged to the value of its underlying fiat currency, and the reserves of its collateralized currency always equal or exceed the amount of tokens in circulation. Technically, it continues to leverage the features and functions of the Bitcoin blockchain.” USDT is issued and traded using the Omni protocol (formerly Mastercoin), making it one of the first 2.0 tokens built on the Bitcoin blockchain. Therefore, transaction confirmations and other parameters are consistent with those of Bitcoin. USDT has since been supported on the Ethereum and TRON networks. According to Craig Sellars, CTO and co-founder of Tether, users can wire US dollars to Tether’s bank account via SWIFT or exchange them for USDT on the Bitfinex platform. To redeem US dollars, the process is reversed. Users can also exchange Bitcoin for USDT on these platforms. The company claims to maintain a strict 1:1 reserve guarantee, meaning that every USDT token issued is backed by $1 in the company’s bank accounts. In terms of compliance, all transactions involving fiat currencies require users to complete Know Your Customer (KYC) verification. When asked how users can verify the reserve balance, Craig stated that the fiat funds are held by Tether Limited and subject to regular audits, although users cannot directly query the reserve balance. This centralization aspect has led some to view USDT as having risks of manipulation or an exit scam; however, it still boasts the highest trading volume among all stable virtual currencies. USDT can be purchased with fiat currency on various over-the-counter (OTC) platforms, including Huobi and OKEx, which support Chinese Yuan to USDT OTC trades. USDT Founding Team: The team’s CTO is Craig Sellars. Tether is currently priced at $1.00, with a 24-hour trading volume of $162,811 million. In the past 24 hours, Tether has increased by 0.07%. It ranks 7th on BeeChecker, with a market cap of $103.289 billion. Its circulating supply is 10.3262 billion USDT, while the total supply is 10.6795 billion USDT."
Issue Date	1416960000000
All-Time High	$1.53262502
All-Time Low	$0.572521
Total Supply	106795534933.0144
Circulating Supply	103262446901.2165
Circulating Supply Percentage	0.966917268273304
Market Cap	1970427989050
Fully Diluted Market Cap	$9.367245555982004e-12
Mkt Cap (Float)	$103289088613
Circulating Market Cap % of Global Total	0.05241962111124834
Listed on Exchanges	41
Official Link	https://tether.to
Whitepaper	https://tether.to/wp-content/uploads/2016/06/TetherWhitePaper.pdf
Blockchain Explorer	"https://www.omniexplorer.info/", "https://usdt.tokenview.com/", "https://blockchair.com/bitcoin/omni/property/31"
Telegram
Github	https://github.com/omnilayer/omnilayer
Twitter	https://twitter.com/tether_to
FaceBook	https://www.facebook.com/tether
Reddit

Currency Introduction

USDT is a token issued by Tether Limited, based on the stable value currency US Dollar (USD), known as Tether USD (hereafter referred to as USDT). The ratio stands at 1 USDT = 1 USD, and users can exchange USDT for USD on a 1:1 basis at any time. Tether Limited strictly adheres to a 1:1 reserve guarantee, meaning for every USDT token issued, there is $1 in their bank account backing it.

Users can verify funds on the Tether platform to ensure transparency. Users can wire USD via SWIFT to the bank accounts provided by Tether Limited or exchange for USDT through exchanges. To redeem USD, the process is reversed. Users can also trade Bitcoin for USDT on exchanges.

Overview of USDT

The issuance and trading of USDT utilize the Omni protocol (formerly Mastercoin), which is a 2.0 cryptocurrency built on the Bitcoin blockchain. The confirmation times and other parameters for USDT transactions are consistent with those of Bitcoin. Users can wire USD via SWIFT to the bank accounts provided by Tether Limited or exchange for USDT through exchanges. To redeem USD, the process is reversed. Users can also trade Bitcoin for USDT on exchanges.

Tether Limited strictly adheres to a 1:1 reserve guarantee, meaning for every USDT token issued, there is $1 in their bank account backing it. Users can verify funds on the Tether platform to ensure transparency.

USDT is not a new cryptocurrency; it has been traded since 2015. However, due to its late introduction on domestic exchanges, many investors are not very familiar with it. After crypto-to-crypto trading, many investors were concerned about how to convert their tokens into fiat currencies, and USDT provides a channel for converting held tokens into fiat.

USDT Architecture

The layers are described as follows:

Bitcoin Blockchain Layer: This primarily implements the distributed ledger functionality for Tether. Tether transaction information is stored in the Bitcoin distributed ledger through OP_RETURN.

Omni Protocol Layer: The main functions include:

Creation and destruction of USDT
Providing OmniApi
Tracking circulation of Tether and providing blockchain explorer functionality through http://omnichest.info
Supporting user transactions and storage of Tether (USDT)

Tether Business Layer: The primary functions include:

Fiat currency exchange for Tether (USDT)
Tether (USDT) exchange for fiat currency
Regulation of circulating Tether (USDT)

Features of USDT

Intuitive: USDT is equivalent to USD, with 1 USDT = 1 USD. The value of each cryptocurrency in terms of USDT essentially represents its price in dollars.

Stable: Since Tether is backed by fiat currency, users can trade on the blockchain asset market without being affected by the price fluctuations of most blockchain assets.

Transparent: Tether claims that its fiat reserves are audited regularly to ensure that every Tether token in circulation is backed by one dollar. The status of the reserves is public and can be verified at any time. Additionally, all Tether transactions are recorded on the public blockchain.

Low Transaction Fees: There are no fees for transactions between Tether accounts or wallets holding Tether. When converting Tether to fiat currency, transaction service fees apply.

Purposes of USDT

1. Avoid Overall Market Decline Risk

In crypto-to-crypto trading, three common scenarios occur, using LTC/BTC as an example:

After buying LTC with BTC, if both BTC and LTC rise, you enjoy double profits.
After buying LTC with BTC, if one rises and the other falls, your profit depends on which has a greater fluctuation. If the gain is greater than the loss, you make a profit. Otherwise, you incur a loss. Equal gains and losses result in a break-even situation.
After buying LTC with BTC, if both coins decline significantly, you bear double losses, which can be distressing.

With USDT, when prices fall, you can immediately convert your coins into USDT to prevent your assets from depreciating.

2. Reverse Operations and Cryptocurrency Withdrawals

Depositing USDT is straightforward; Tether Limited states that investors can wire USD via SWIFT to the companys bank accounts or exchange for USDT through the Bitfinex exchange.

If you wish to withdraw substantial profits, you can first exchange your coins for USDT, then convert them back into USD through Tether Limited or other platforms. You will notice that if you complete verification with Tether Limited, you can directly trade on other non-KYC platforms without additional verification.

However, the withdrawal process is not always simple. You can return USDT to Tether Limited, who will destroy the received USDT and issue the equivalent amount of USD to the user. It should be noted that whether wiring USD to Tether Limited’s bank accounts to purchase USDT or exchanging USDT back to USD, account verification is required. Tether’s Know Your Customer (KYC) process is reportedly difficult to pass, and the exchange fee is approximately 5%.

Alternatively, you can exchange USDT for USD through exchanges like Kraken. On the Kraken platform, select the USDT/USD trading pair to convert USDT into USD.

Risks Associated with USDT

In the whitepaper "Tether: A Fiat Currency Token Leveraging the Bitcoin Blockchain," Tether Limited addresses risks associated with USDT:

Tether is a decentralized digital currency, but we are not a perfectly decentralized company, as we hold all the assets as centralized custodians.

The company may go bankrupt.
Banks where the company holds accounts may go bankrupt.
Banks may freeze funds.
The company may abscond with funds.
Re-centralization risks could paralyze the entire system.

Given that USDT is issued by Tether Limited and carries inherent centralization risks, investors need to exercise caution and carefully evaluate these risks.

Media Evaluation

Tether (USDT) has become the most popular stablecoin in recent years, with a market share close to $3 billion, far surpassing competitors such as USDC, Gemini Dollars, and JPM Coin. USDT is used as a substitute for the US dollar on cryptocurrency trading platforms, eliminating the need for conversion into fiat. Approximately 80% of all Bitcoin trades and money laundering activities involve Tether, which is unsurprising given the nature of most cryptocurrency transactions.

Tether is among the top five cryptocurrency companies by cash flow, generating a 3-5% profit from the $2 billion provided by global users, with minimal operational costs. This so-called “stablecoin” with a 1:1 exchange ratio to the US dollar does not factor in the additional profit they derive from these operations.

expand

Development History

2020年6月4日Bitfinex and Tether denied all charges in the revised class action lawsuit filed against their parent company iFinex Inc

2020年5月31日The total circulation of USDT reached US$ 9.36 billion, ranking third in total market value, an increase of US$ 1.34 billion from April.

2020年4月30日The total circulation of USDT reached US$ 8.02 billion, an increase of US$ 1.77 billion from March.

2020年第1季度Tether issued 2,188,008,006 million USDT T.

2020年1月23日Tether announced the launch of Tether Gold(XAUT), a stable currency linked to physical gold, which will be issued on ethereum and tron as ERC-20 and TRC-20 tokens.

2019年第4季度Tether issued an additional USDT 1,018,652.6 million.

2019年10月As plaintiffs, five American citizens holding cryptocurrency filed class action lawsuits against related companies and natural persons such as Tether and Bitfinex.

2019年第3季度Tether issued 6.0625 billion USDT T.

2019年9月10日Tether announced the launch of CNHT, a stable currency linked to offshore RMB (CNH), and issued it as ERC-20 token on the Ethereum blockchain.

2019年5月Bitfinex plans to raise $1 billion through IEO.

2019年4月25日-5月29日Tether issued an additional USDT 1,063,801 million.

2019年4月24日Tether issued another 640 million USDT.

2019年4月The New York State Attorney Generals Office (NYAG) sued Bitfinex and Tether, saying that the two companies were "committing fraud."

2019年3月Tether revised the terms of service, and USDTs endorsement became 75% USD anchor, and 25% iFinex stock secured loan.

2018年11月The US Department of Justice (DoJ) investigated whether the rise of Bitcoin in 2017 was driven by Tether manipulation.

2018年11月Tether released the third audit report (conducted by Deltec Bank), confirming that Tether had corresponding reserves of $1.8 billion as of November 1, 2018.

2018年11月1日Tether announced the establishment of a cooperative relationship with Deltec in Bahamas, and announced the asset certificate of $1.83 billion issued by the bank.

2018年10月Bitfinex and Tether have established a cooperative relationship with Deltec Bank in Bahamas.

2018年6月Tether released the audit report for the second time (conducted by law firm Freeh, Sporkin & Sullivan), and confirmed that Tether had a corresponding reserve of 2.5 billion US dollars as of June 1, 2018.

2018年5月Bitfinex and Tether established cooperation with Noble Bank of Puerto Rico.

2018年1月24日An anonymous report pointed out that as of January 4, 2018, Tether Company had issued 91 additional USDT.

2018年1月8日Tether announced that it will issue EURT, which is 1: 1 convertible with Euro, and will be compatible with ERC20 standard.

2017年12月Bitfinex and Tether were summoned by the Commodity Futures Trading Commission (CFTC) for lack of transparency.

2017年9月Tether released the audit report for the first time (conducted by new york accounting firm Friedman LLP), and confirmed that Tether had a corresponding reserve of USD 443 million as the support as of September 15th, 2017.

2017年1月至7月The value of Tether in circulation rose from $7 million to $320 million.

2017年4月24日Tether broke the 1:1 peg with the US dollar for the first time, and traded at a 10% discount during the period when its banking business was cut off.

2017年4月Wells Fargo cut off Bitfinex banking business.

2017年4月Tethers three bank accounts in Taiwan Province were banned.

2015年2月USDT was officially released, and in the same month Bitfinex announced its support for USDT transactions.

2014年11月Realcoin changed its name to Tether and announced a cooperation agreement with Bitfinex, the Hong Kong Bitcoin Exchange.

2014年7月Brock Pierce, Reeve Collins and Craig Sellars jointly established RealCoin Company, and registered in Isle of Man and Hong Kong.

2024-07-23
【Ethereum(ETH) Surpasses 3,500 USDT with a 0.75% Increase in 24 Hours】

On Jul 23, 2024, 08:32 AM(UTC). According to Binance Market Data, Ethereum has crossed the 3,500 USDT benchmark and is now trading at 3,510.219971 USDT, with a narrowed 0.75% increase in 24 hours.