Tether's dollar-pegged cryptocurrency USDT has been the most popular and widely used stablecoin since its inception. As the stablecoin with the highest market capitalization ($83.1 billion) and trading volume ($82 billion in the last 24 hours), USDT is available on most digital asset exchanges and has a large share of decentralized finance protocols. It is also the number one stablecoin in the world.
Tether was established in 2014, formerly known as "Realcoin", whose name comes from the project that issued USDT stable currency.
Tether is a fiat-backed stablecoin that has enjoyed good price stability since its launch, with a few exceptions that have fallen short of expectations. Each USDT is already backed "one-to-one" by USD in the project's reserves. Therefore, 1 USDT is theoretically equivalent to 1 USD in Tether’s reserves, and its exchange rate value is equal to USD.
