What is USDT?
Tether, also known as USDT, was launched in 2014. It is a cryptocurrency initially based on the Bitcoin blockchain technology through the Omni Layer Protocol. The interesting aspect about this crypto is that each USDT claims to be tethered (backed) by a USD . The USDT is pegged to the USD as a fiat currency at a ratio of 1:1.
Factors affecting USDT value
The value of Tether can be under the influence of the overall cryptocurrency market and of the factors specific to the USDT currency. Any news and announcements related to Tether may have an effect on the USDT to USD exchange rate. In particular, the announcements related to the level of reserves which should be held to back the digital coins in circulation, since they have had an effect in the past.
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