$USDC

Tether (USDT) is a type of cryptocurrency known as a "stablecoin," designed to maintain a stable value by being pegged to a fiat currency, most commonly the US Dollar. Each USDT token is meant to be backed by an equivalent amount of fiat currency or assets held in reserve, allowing its value to remain close to 1 USD. This peg helps USDT avoid the extreme volatility that many other cryptocurrencies experience, making it useful for traders and investors who want to move funds quickly without the risk of sudden price swings.

Launched in 2014 by Tether Ltd., USDT operates on various blockchain platforms, including Bitcoin (via the Omni Layer), Ethereum (ERC-20), and others, making it highly accessible and widely used in the cryptocurrency market. It is primarily used for trading and as a medium of exchange within the crypto ecosystem. Traders use USDT to hedge against price fluctuations in other cryptocurrencies or to transfer value between exchanges.

However, Tether has faced scrutiny over whether it fully backs its tokens with sufficient reserves, leading to regulatory questions and investigations. Despite this, USDT remains one of the most widely used stablecoins, with billions of dollars in circulation, playing a critical role in providing liquidity and stability in the cryptocurrency market.