Stablecoin Tether USDT is a recurring item on the Bitcoin (BTC) market. In the month April, almost $1 billion in USDT has been added so far, that brings the total to $2.7 billion in 2020.

This breaks through the USDT’s total market value of $7.1 billion, which puts it in fourth place of the market according to Coingecko.

It is by far the most popular stablecoin. Especially for active traders USDT is the ‘place to go’. This because you are not dependent on SEPA transactions, which take a few working days before your euro or dollar is on the exchange.

Exchanges such as Binance, FTX, Kucoin and Huobi rely on USDT instead of USD. Just like a central bank, Tether Inc. brings the new USDT into circulation.

To clarify: printing USDT is not the same as printing fiat currencies like the dollar or the euro. Tether Inc, regulated in the Seychelles, cooperates with a bank to ensure that each USDT is covered by one USD.

A lawsuit still pending in New York State between iFinex, Tether’s parent company and Bitfinex, showed that only 74% of the USDT was actually covered. The lawyer of iFinex openly declared this.