Tether is a stablecoin pegged to the US dollar, meaning that the value of one USDT will only ever be that of $1. Tether was created and issued by the Hong Kong-based company Tether, and maintains the network’s value through holding an equal amount of dollars in reserves. For every USDT issued, one dollar will be held in reserve.
Initially, Tether was called Realcoin when launched in July 2014 and operated as a second layer cryptocurrency token through the Omni platform. It was later named USTether and then USDT. Originally Realcoin was built on top of Bitcoin’s blockchain, however, through the years, the token became an ERC-20 token that was able to operate on many blockchains including Ethereum, Algorand, EOS, OMG Network and Tron.
Considered to be the most successful stablecoin, Tether has been a resident fixture in the top 10 cryptocurrencies based on market cap. The stablecoin provides users with the opportunity to enter the cryptocurrency market without the volatility and tap into the power of blockchain through its cross border payments. There is no cap on the number of USDT that can enter circulation. See the chart above depicting the USDT price data and use the Buy button to start trading.
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