What is Tether?
Tether (USDT) is a stablecoin currently ranked 3rd by market capitalization across all crypto assets we track. Stablecoins are designed to track a target value (most often $1). They are the primary on-chain settlement layer for trading, lending, and remittance.
Market position
At the current price of $1.02, Tether carries a market capitalization of $192.84B. Daily trading volume across exchanges sits at roughly $46.93B. That works out to a 24-hour turnover of about 24.34% of the float — elevated turnover, often a signal of active narrative-driven trading.
Price action across timeframes
Over the past 24 hours, Tether has moved +0.16%; over the past week, Tether has moved +1.40%; over the past 30 days, Tether has moved -0.11%; over the past year, Tether has moved -0.12%.
Cycle position
Tether is currently trading within striking distance of its all-time high (all-time high of $1.22, -16.1% from peak). . From its all-time low of $0.7863, current pricing represents a +30% recovery.
Supply & dilution
The circulating supply stands at 192,416,630,508 USDT. There is no explicit cap on maximum supply — issuance follows a programmatic schedule defined in the protocol.
Volatility profile
Recent price action puts Tether in the Low-volatility bucket. The asset has been relatively stable, with moves typical of large-cap, mature assets. Over the past 30 days, the 30-day move totals -0.11%, which traders should weigh against position sizing and stop-loss placement.
How to evaluate Tether
A balanced read on USDT typically considers three lenses:
- Network & on-chain activity — does usage justify the valuation? Live activity (above) should ideally trend up over time.
- Cycle position — current price relative to ATH (above) sets the risk/reward asymmetry. Closer to ATL is mathematically lower downside; closer to ATH is higher downside.
- Comparable assets — how is USDT performing against the broader crypto market (BTC, total market cap) and against peers in the same sector? The benchmarks chart on this page shows this directly.
This page combines live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model so you can answer those three questions in one place. Nothing on this page is investment advice — it's a structured starting point for your own due diligence.
Project description
Tether (USDT) is a stablecoin that aims to bridge the gap between cryptocurrencies and traditional fiat currencies by pegging its value to the US Dollar. It allows for digital transactions while minimizing volatility commonly associated with cryptocurrencies. Source: CoinPaprika.com
