USDT Price Prediction Today: Will Its Value Go Up or Down?

Bittime - This article explains the use and history of Tether (USDT), as well as today's USDT price prediction, which is important for the crypto market. Tether was launched in 2014 to provide value stability in the crypto market.

What Is Tether (USDT)?

Tether (USDT) was launched in 2014 with the goal of creating a stable cryptocurrency that could be used like a digital dollar, or stablecoin. Tether has an anchor, or tether, that connects Tether to the price of the US dollar.

Tether Limited, whose CEO shares Bitfinex's crypto business, issues Tether tokens. It is currently available as an ERC20 token on Ethereum, but previously used the Bitcoin Omni Layer network transport protocol. Tether previously claimed that Tether reserves fully support the Tether currency. However, Tether's lawyers reported in 2019 that only 74% of its reserves supported Tether.

What Is Tether Used For?

Due to its stability, Tether is used as a hedge against crypto market volatility. Storing money in Tether protects it from the usual cryptocurrency market volatility because each USDT token is pegged to one dollar. Because of this, Tether can serve as a fiat on-ramp and off-ramp for crypto trading, most Bitcoin trading is done with it.

USDT Price Prediction Today

Today's USDT (Tether) price prediction is around 16,271.04 IDR, showing quite a large movement compared to the previous few days, according to data from CoinMarketCap. USDT is often considered a balancer in crypto portfolios as it is one of the most popular stablecoins. As a result, significant price changes can affect the cryptocurrency market as a whole.

Conclusion

Tether Limited, which is associated with Bitfinex, launched the stablecoin Tether (USDT) in 2014. The aim was to provide value stability by being pegged to the US dollar. Although previous claims about reserves fully support them, only 74% of reserves were proven as of 2019.

USDT is often used to facilitate trading between fiat and crypto currencies and is used as a hedge against crypto market volatility. Today's predicted USDT price is around 16,271.04 IDR, indicating a significant shift that could affect the crypto market as a whole.

How To Buy Crypto With Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.