USD and USDT are not the same. The main differences are: issuer (USD is the US government, USDT is the Tether company), stability (USD is supported by the US economy, USDT is supported by Tether reserves), supervision (USD is supervised by regulatory agencies, USDT is currently not subject to), usage (USD is used for daily transactions, USDT is used for cryptocurrency trading), liquidity (USD is highly circulated, USDT depends on Tether reserves), etc.
USD and USDT: Same approach but different
Question: Are USD and USDT the same?
Answer: No
Detailed explanation:
USD (USD) is the legal currency of the United States, issued under the supervision of the Federal Reserve System of the United States. USDT (Tether) is a stable currency pegged to the US dollar, issued by Tether.
Main difference:
Other Differences:
Conclusion:
While both USD and USDT are pegged to the U.S. dollar, they have key differences in issuers, stability, regulation, and usage. Therefore, it is inappropriate to treat USD and USDT as the same product.
Tether USDt Price Increases, Volume Increases
As of August 1, 2024, the price of Tether USDt (USDT) is $0.9994435552669, with $574.4 billion in trading volume over the past 24 hours. The price rose 0.96%, with the float market capitalization reaching $11,443.1 billion.
Price Moving Factors
The price increase of Tether USDt may be attributed to the following factors:
Future Price Trends
The long-term price trend of USDT will depend on the overall sentiment of the cryptocurrency market, demand for stablecoins, and changes in the regulatory environment for stablecoins.
Action Guide
Since USDT is primarily used for trading cryptocurrencies, the decision to buy or hold USDT depends on personal investment strategy. It is always important to err on the side of caution and conduct your own research before investing.
Short-term trend forecast
Based on current market conditions and technical indicators, the price of USDT is expected to continue to rise in the short term.
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