$USDC Tether (USDT) is a stablecoin, a cryptocurrency pegged to the value of the US dollar, designed to provide a less volatile digital currency for trading and transactions.

Here's a more detailed breakdown:

What it is:

USDT is a stablecoin, meaning its value is intended to remain stable and pegged to the US dollar at a 1:1 ratio.

Purpose:

USDT aims to provide a stable digital asset for trading and holding crypto assets, reducing the volatility associated with other cryptocurrencies.

How it works:

Tether claims that each USDT is backed by one US dollar held in reserve, and when someone buys USDT, they send USD to Tether, and Tether issues the corresponding amount of USDT to the buyer. #USDC