Tether (USDT) Q1 Trading Volume Plunges To $5.3 Trillion In Quarterly Low

With the chaotic phase that the crypto market is going through, Tether (USDT) trading volume in Q1 of 2022 plunged lower compared to the same quarter of last year. The total Tether transaction for the first quarter of 2022 is 26,454. Even though the bearish trend has seen many investors turning to stablecoins, the interest of investors for USDT remains a bit controlled. Tether is dubbed to be a stable crypto because unlike Bitcoin, Tether is pegged with the US dollar which means it retains a consistent value over time. It’s a go-to or preferred altcoin especially for investors who have a low risk appetite. Suggested Reading | What’s In A Name? Ethereum Domain Name Sales Climb 2,300% What Is Tether? Tether is a stablecoin which is far more consistent or stable compared to other cryptocurrencies like the two popular BTC and ETH because it’s backed by fiat money. This means Tether has actual US dollars that act as collateral. It basically has the same value as the USD. Stablecoins act as a middle ground and provide liquidity in an extremely risky and volatile environment allowing crypto to be regarded as a store of value and less than a risky undertaking. USDT total market cap at $82.28 billion on the weekend chart | Source: TradingView.com The most popular stablecoins are Tether, USD Coin, and Gemini Dollar which all share the same characteristics backed by US dollars. On the other hand, other stablecoins are backed by...