Tether (USDT) is up 0.7% in the last 24 hours, which is this Stablecoin to exactly 1 USD (USDT / USD). Because it is closely related to the US dollar in a one-to-one relationship, it tends to stay very close to that $ 1 mark.
USDT / USD
Tether recently weathered multiple investigations and allegations as to where its support is coming from and found that only some of its assets are backed by US dollars, many of them by bonds, secured loans, precious metals and other miscellaneous assets. All tether dollars are backed by some type of asset, but not all are US currencies. This detailed listing of Tether’s assets raises many concerns about the Cryptocurrency cleared out and helped investors feel better when all of their tether tokens are secured and fully secured.
When all of these details came to light and the federal investigation into Tether was completed, consumer confidence in Tether improved. Consumer confidence in USDT was unstable for part of 2021, but Tether has since cemented its position as the number one stablecoin and one of the top cryptocurrency tokens overall.
Is it worth investing in tether?
Making an investment in a stablecoin is different from investing in a traditional cryptocurrency asset. USDT is pegged to the US dollar, so its value is unlikely to change much. Even in the long term, optimistic forecasts see Tether as a 5-year investment grow to 0.8% by 2026. The 1-year forecast is even less promising at around 0.3%.
Investors shouldn’t view Tether as a way to grow their initial investment over time. Other cryptocurrency coins can do that better. What makes Tether stand out is that it serves as a liquid asset that can be quickly and easily traded between other cryptocurrencies while retaining its value most of the time. The price of Tether doesn’t change too much unless you look at it on a micro level. With Tether, even the greatest ups and downs have only a fraction of a cent to do with changes. Tether is a great place to hold liquid assets while waiting for the rest of the market to move and become a viable investment opportunity.
Tether is certainly worth an investment due to its stability and should remain one of the most widely used and functional cryptocurrency coins for a long time to come. Now that many of the support issues have been resolved, Tether is well positioned for the future.
Source: Crypto News Deutsch