Tether

Tether (USDT) is a stablecoin, a type of cryptocurrency designed to maintain a value equal to one US dollar at all times. It is issued by Tether Limited and is intended for people who want to move value across blockchain networks or exchanges without being exposed to the price swings typical of other cryptocurrencies. It addresses the problem of volatility in digital-asset markets by functioning as a digital stand-in for the US dollar.

Tether operates across multiple blockchains simultaneously, including Ethereum, Solana, Avalanche, Tezos, Near Protocol, and Celo, among others, meaning USDT tokens exist as native assets on each of those networks and settle according to each network's own rules. Tether Limited issues tokens and, according to its official materials, holds reserves in USD and equivalent assets to back the outstanding supply. The circulating stablecoin supply recorded here stands at approximately 183,936,395,289 USDT, with about 97.12 percent of the authorized supply having been issued at the time this data was collected.

The data stored for Tether does not include a protocol fee stream — there is no on-chain fee revenue figure recorded here, which means this site carries no fee-based measures such as price-to-fees or revenue yield for this asset. Tether Limited generates revenue as a company primarily through returns on the reserves it holds, but that is an off-chain business model and is not reflected in the on-chain metrics on this page. The 30-day average volume relative to market capitalization stands at 32.51 over the past 30 days, and the 24-hour figure is 27.19, reflecting the high transactional throughput of a widely used settlement instrument, but these are activity figures, not fee figures.