Tether (USDT) Maintains Stability, Posts Minor Gain Against US Dollar on April 12
NEW YORK – Tether (USDT), a prominent stablecoin in the cryptocurrency market, demonstrated its characteristic stability against the US Dollar on Friday, April 12th, while registering a fractional gain.
As of 6:21:23 PM UTC, the price of Tether stood at 0.00017 or +0.017% for the day’s trading period.
The performance underscores Tether’s primary function as a stablecoin, designed to maintain a value pegged closely to a fiat currency, in this case, the US dollar. Throughout the trading day shown on the 1-Day chart, USDT fluctuated within a very narrow range, staying consistently near the $1.00 mark.
The current price of $0.9997 is slightly above the previous closing price, which was recorded at $0.9995 USD. The minor upward tick indicates a marginal strengthening against its fiat peg during the observed period.
Market participants often use Tether as a stable store of value or a bridge between different cryptocurrencies, relying on its price stability relative to the more volatile movements seen in assets like Bitcoin or Ethereum. The data from April 12th reflects USDT fulfilling this role, with minimal deviation from its target $1 value.
