What currency does usdt belong to and how did it come about?
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- 2024-07-10 12:20:52447browse
USDT is the abbreviation of Tether USD. It is a stable currency pegged to the US dollar. Its value always maintains a 1:1 anchoring relationship with the US dollar. USDT is issued by Tether Limited. It is said that for every USDT issued, 1 US dollar is deposited in its bank account as collateral. As a stable currency, USDT does not fluctuate significantly in value and is widely accepted, but the transparency and liquidity of its reserves have been controversial.
What currency is USDT?
USDT, the full name of Tether USD, is a stable currency pegged to the US dollar. This means that the value of USDT always maintains a 1:1 anchor relationship with the US dollar.
How is USDT generated?
USDT is issued by Tether Limited, a company headquartered in the British Virgin Islands. Tether claims that for every USDT issued, $1 is deposited in the company’s bank account as collateral.
What are the characteristics of USDT?
- Stablecoin: Unlike many other cryptocurrencies, the value of USDT does not fluctuate significantly because it is pegged to the US dollar.
- Fiat currency support: USDT is said to be backed by US dollar reserves, which provides a certain degree of guarantee for its value stability.
- Widely Accepted: USDT is a widely used stablecoin among cryptocurrency exchanges as it can be traded as an alternative to the US dollar.
- Controversy: Tether company has been controversial over the transparency and liquidity of its reserves. Some critics believe that USDT may not be fully backed by real U.S. dollar reserves.
As of noon on July 9, 2024, Tether (USDT) is worth $0.99999072931737, with a 24-hour trading volume of $68511763460.383. The USDT price edged down by 0.05588812% compared to the previous day.
USDT’s circulating supply is 112207150564.86, the maximum supply is disputed, but the total supply is the same as the circulating supply. This means that all USDT currently in circulation has been minted.
USDT has a market capitalization of approximately $112206110327.98. USDT is generally considered a stable cryptocurrency due to its peg to the U.S. dollar, making it a popular choice for trading and other cryptocurrency activities.
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