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Tether 

USDT

Stablecoin • Network-dependent (multi-chain)

Buy USDT
Market data

Stablecoin

Sector

2014

Published
$186.74B
Market cap

3rd

Market cap rank

About Tether

What is Tether?

Tether (USDT) is a stablecoin pegged 1:1 to the US dollar. Issued by Tether Limited, each token is backed by reserves including US Treasury bills, cash, and other assets. USDT acts as a digital dollar in the crypto market, commonly used for short-term capital parking, trading, and fast cross-border transfers without the volatility of traditional cryptocurrencies.

Key data

Founder
Brock Pierce, Reeve Collins, Craig Sellars
Developer
Tether Limited
Published
2014
Open source
No
Sector
Stablecoin
Key feature
Price stability (USD peg)

Technology

Blockchain
Multi-chain
Staking
No
Consensus mechanism
Network-dependent (multi-chain)
Energy consumption
Low
Transactions per second

Community & Links

Social media
556,661 followers
Whitepaper
Whitepaper
Website
tether.to

Our Tether rating

Review result

Overall rating
Tether
Risk
Tether: 8 of 10
Risk (Tether)
8/10
Tether Logo
riskyless risky
Community
Tether: 10 of 10
Community (Tether)
10/10
Tether Logo
smalllarge
Hype & momentum
Tether: 7 of 10
Hype & momentum (Tether)
7/10
Tether Logo
weakstrong
Active usage
Tether: 10 of 10
Active usage (Tether)
10/10
Tether Logo
lowhigh
Network effect
Tether: 9 of 10
Network effect (Tether)
9/10
Tether Logo
weakstrong
Decentralization
Tether: 1 of 10
Decentralization (Tether)
1/10
Tether Logo
centralizeddecentralized

Our opinion

Tether has established itself as an indispensable tool in the crypto market. No other stablecoin offers comparable liquidity and global availability. For traders and users in emerging markets, USDT is often the most practical way to hold value in US dollars. That said, the criticism is valid: Tether Limited operates offshore, full audits are still missing, and the freeze function highlights how centralized the system is. For EU users, MiCA adds another factor, as USDT is increasingly restricted on regulated platforms. Despite this, Tether has weathered every major crisis and has processed billions in redemptions without issues. We see USDT as a highly practical trading instrument with clear utility, but not as a long-term store of value. Anyone holding larger amounts should keep issuer risk in mind and consider diversifying into regulated alternatives such as USDC.

Our data on cryptocurrencies was last updated on 2026-01-14T11:50:29.076446+00:00. Sources: CoinGecko, defillama.com, coincodex.com.

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