Cryptocurrencies > Coins > Ethereum
Tether (USDT)
$... +..%
Market Cap: $???,???
Fundamental Crypto Asset Score
- USDT is a USD-backed stablecoin issued by Tether.
- It currently has the largest volume and is the most widely used token of its kind.
- However, Tether is a centralized company that lacks sufficient transparency.
- The price of USDT is essentially supported by the full dollar reserve, which has NOT been convincingly proven for a long time.
Our Opinion
Tether (USDT) is a digital currency that mirrors the value of the US dollar. Tether was launched in 2014 and is based on the idea of creating a stable cryptocurrency that can be used like digital dollars or "stablecoins." Tether tokens are issued by Tether Limited, which shares a CEO with crypto exchange Bitfinex. The company claims that each Tether token is backed by one US dollar. Exactly how Tether is backed, or if it's truly backed at all, is still a mystery.
For this reason, the CryptoExplorer team is cautious and only holds a portion of the stablecoins in Tether themselves. Everyone should assess the risk themselves and depending on that use other stablecoins like USDC or BUSD.
51
CE-Score (out of 100)
Mar 11, 2022
Ecosystem Structure: 4.2
Token Economics: 4.3
Market Opportunity: 1.0
Core Team: 5.6
Token Performance: 9.3
Roadmap Progress: 5.4
Underlying Technology: 6.0