What currency does usdt belong to?
USDT is a stablecoin pegged to the US dollar, designed to provide stability against price fluctuations in the cryptocurrency market. Its features include: pegged to the U.S. dollar, issued by Tether, large trading volume, and good liquidity. USDT can be used for cryptocurrency trading, settlement, hedging and cross-border payments. Other types of stablecoins include USDC, BUSD, DAI, GUSD, etc.
What currency does USDT belong to?
USDT (Tether) is a stablecoin pegged to the US dollar.
Definition and Characteristics of Stablecoin:
A stablecoin is a cryptocurrency whose value is pegged to a real-world fiat currency (usually the U.S. dollar) and is designed to provide stability against price fluctuations in the cryptocurrency market. Stablecoins are typically collateralized by fiat currency, commodities, or other cryptocurrencies to keep their value stable.
Features of USDT:
- is pegged to the US dollar and its value is stable.
- Issued by Tether Corporation and backed by its reserves.
- Large trading volume and good liquidity.
- Mainly used for trading, settlement and hedging in the cryptocurrency market.
Use of USDT:
- Remittance and settlement between cryptocurrency exchanges.
- A safe haven from cryptocurrency market volatility.
- An alternative to fiat currencies for cross-border transactions and payments.
Other types of stablecoins:
Besides USDT, there are other types of stablecoins, such as:
- USDC (USD Coin)
- BUSD (Binance USD)
- DAI (Ethereum-based collateralized stablecoin)
- GUSD (Gemini USD)
These stablecoins are all pegged to the US dollar in different ways and have slightly different characteristics.
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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