Tether (USDT) is a stablecoin cryptocurrency pegged to the value of fiat currencies like the US dollar.
Tether (USDT) is a type of cryptocurrency known as a stablecoin. It's designed to maintain a stable value by being pegged to a fiat currency, typically the US dollar, at a 1:1 ratio. This means that for every unit of Tether issued, there should be an equivalent amount of US dollars held in reserve to back it up.
Tether is often used as a way for cryptocurrency traders to move funds quickly between different exchanges or as a hedge against the volatility of other cryptocurrencies. Since its value is tied to a stable asset like the US dollar, it's less subject to the extreme price fluctuations that can occur with other cryptocurrencies like Bitcoin or Ethereum.
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