Tether Price
What is Tether (USDT)?
Released in 2014, Tether (USDT) is the first stablecoin cryptocurrency issued on the market. Each USDT is backed at a 1:1 ratio in USD reserves and other valuable assets. The idea behind Tether is to combine the efficiency and low-cost transfers of cryptocurrencies with the stability of FIAT money issued by central banks.
As such, it provides numerous advantages to cryptocurrency investors, including:
- Hedge from volatility - unlike other cryptocurrencies, stablecoins such as the USDT do not suffer from high volatility. This makes them a safe haven for traders and investors when market prices show unpredictable movements.
- Reduced trading fees - stablecoins are a great on-and-off ramp solution to avoid paying high crypto-to-FIAT fees when trading on an exchange.
- Attractiveness as a method of payment - since the price of Tether remains constant, merchants can use them without being concerned that their profits might lose their value over time.
- Remittance and cross-border transfers - international money transfers are costly and slow. Tether (USDT) allows users to enjoy the advantages of blockchain technology, such as low fees and fast transactions, while conserving the stability of the US dollar.
Tether is most commonly used as a means of exchanging cryptocurrencies. As a result, the daily volume of USDT is the highest on the market, generally twice as big as that of Bitcoin. Tether (USDT) is often seen as the main culprit for the saturation of the Ethereum network.
How to read the Tether price chart on Paybis?
The Tether price chart on Paybis is a visual representation of the price of Tether over time.
To read the current USDT price chart and get the current Tether value, you can follow these steps:
- Choose your preferred currency from the top of the chart. Price of Tether in USD is selected by default.
- Adjust the time frame from the top of the chart to know what’s the price of Tether at any time in the past
It is important to remember that the USDT price chart is just one tool that you can use to analyze the market. You should also consider other factors, such as news and events, when making investment decisions.
How Tether (USDT) works
The company behind the creation of USDT, Tether Limited, issues and distributes the Tether tokens in exchange for real-world assets.
The USDT token was initially released on the original Bitcoin blockchain, by using the Omni layer protocol. This software layer built upon Bitcoin allows users to create custom assets and currencies. The Tether tokens issued on Omni use the Bitcoin ledger for their transactions, making them extremely secure.
After the success of the Ethereum blockchain in 2017, Tether Limited announced that they would be releasing a new Tether token, based on the ERC-20 protocol. Currently, these Ethereum-based USDT tokens make out for the largest part of the coin’s market.
Finally, Tether can also be found on two other smart contract blockchains, Tron and EOS.
Worth noting is that the USDT tokens from different blockchains aren’t compatible with each other’s wallets. Before making a Tether transaction, ensure that the USDT coins you are sending or receiving match the type of the destination address.
Who invented Tether (USDT)?
J.R. Willet is the American developer who invented the Omni layer protocol and released the MasterCoin whitepaper, which is the basis of the Tether coin. A graduate in computer sciences, Willet is considered to be the inventor of the stablecoins and the concept of ICOs.
Together with entrepreneurs Brock Pierce and Craig Sellars, Willet established the Mastercoin foundation. The startup launched the precursor to Tether named “Realcoin” and released the first tokens on the Bitcoin blockchain in October 2014.
You can read more information about the background history of Tether here.
Cryptocurrency exchange Bitfinex was a big supporter of the project and was the first to list Tether on the market. The efforts of both companies would eventually merge into a single project that was ultimately renamed Tether Limited.
Price of Tether right now
Unlike other cryptocurrencies, the price of Tether right now is not subject to extreme volatility and price fluctuations. By design, the Tether price USD is always equal to $1.
With that said, Paybis provides you with a Tether price chart that can be used to consult important benchmarks, including:
- The Tether price live.
- The market cap of USDT, in correlation with the Tether price today.
- The circulating supply of Tether.
Furthermore, in addition to using the Tether chart to check out the USDT price, you can compare it to other FIAT currencies. This current Tether price can be used to measure the performance of the USD versus the EUR or the YEN, for example.
Finally, by personalizing the timeframe of the chart you can compare the Tether price today to the historical price action of other government-issued currencies.
Find out how much is the Tether today with the Paybis USDT price chart.
USDT price history
The USDT price history is largely uneventful.
The USDT to USD price has been relatively stable since its inception in 2014, with a few notable exceptions. In 2017, the price of USDT surged to over $1.20, before crashing back down to around $1.00. In 2018, the price of USDT again surged, this time to over $1.50, before crashing back down to around $1.00.
The most recent major price movement for USDT occurred in May 2022, when the price of the stablecoin briefly dipped below $0.99. This was due to concerns about the stability of Tether, the company that issues USDT. However, the price of USDT quickly recovered and has since remained stable.
The Tether value today is still hovering around $1.00 per USDT as intended.
Use the tracker on top of this page to see the complete USDT price history.
FAQ
What is the current price of Tether?
Tether prices do not fluctuate greatly. The price of tether in USD will always be close to $1.00 except in few exceptional cases where it has momentarily slipped from its peg.
Why is Tether $1 dollar?
Tether (USDT) is a stablecoin pegged to the USD dollar. For every USDT in circulation, there is 1 USD physically backing the currency. Hence, the current Tether price is always one dollar.
Does Tether have a future?
Tether’s future looks bright. Currently, it is the largest stablecoin by market cap and has held strong since inception. Paybis does not provide investment advice. Conduct your own research before you buy USDT.
Who has most Tether?
There is no concrete evidence on who has the most Tether.
How many Tether coins left?
Tether does not have a maximum supply cap. More USDT can be created by locking up USD. One might say that the maximum supply of Tether could be equal to the maximum supply of USD.
What will Tether be worth in 2030?
If Tether continues to hold strong as a stablecoin, we can expect the stablecoin to remain pegged to the US Dollar — the same as the Tether price today. Hence, 1 USDT will be worth 1 USD. Use our USDT calculator to estimate how much Tether you can get.
Why is Tether so popular?
Tether is one of the early fully-collateralized stablecoins to enter the cryptocurrency market. It offered crypto investors a safe haven to park their funds away from the volatility of the crypto market without ever cashing out in a fiat currency. It gradually became the defacto stablecoin for many and is now the most popular stablecoin.
