Popular Cryptocurrencies
Tether USDT
Live Tether price updates and the latest Sonic wallet app.
ABOUT TETHER
Tether was launched in July 2014 as Real Coin and it was renamed Tether in November 2014. It is a cryptocurrency stablecoin pegged to the U.S. dollar. Tether backs it 100% with its reserves.
A Hong Kong based company iFinex owns it and the company also owns the crypto exchange BitFinex.
It is not highly volatile as other currencies and is widely used by investors who want to avoid volatility while keeping their coins in the system.
Now it holds the third position among the cryptocurrencies and is ranked after bitcoin and ethereum. It has a market capitalization of around $83 billion.
Tether belongs to the fast-growing category of stablecoins. As it is tied to the traditional U.S. currency, the tokens issued are not as volatile as the most speculative bitcoin.
How does Tether work?
Tether is designed to always maintain a $1 value, but slight deviations of $0.01 and $0.02 are common, and typically last a short time. Nonetheless, there are some exceptions when the Tether price has wandered albeit too far from its peg. On March 2, 2015, USDT hit an all-time low of $0.57, recording a deviation of $0.43. On the other hand, a Tether ATH was reached in July 2018. It recorded a price of $1.32, veering off from its peg by $0.32. As a stablecoin, this is not desirable, which is why Tether strives to remain its value as close to $1 as possible.
Tether Limited does not provide issuance schedules ahead of time. Rather, it issues daily transparency reports detailing the total amount of USD in reserves vis a vis the total USDT amount in circulation.
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