The Origin of Tether: What Is USDT and a Look at Its Trading Volumes

USDT (USDT) is a cryptocurrency designed for each token to be represented by an underlying US dollar. Each USDT token is pegged to a US dollar that is held in Tether Limited’s reserve balance and can be obtained through the Tether platform. Over 50% of USDT tokens exist as ERC-20 (Ethereum) tokens, which affects liquidity pools, wallet storage, trading volume, and ease of exit from USDT. The majority of Tether lives on the Ethereum, Omni, Tron, EOS, Liquid and Algorand blockchains.

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Bybit is one of the fastest growing cryptocurrency derivatives exchanges, with more than a million registered users.