Hello guys!
Meet again at the homework of the week from Steemit Crypto Academy. The discussion for this week's homework is about StableCoin. There are 3 Stables given by professors to discuss which are: Tether (USDT), DAI, and Steem Backed Dollars (SBD).
What I will choose as a topic of discussion in my article is the Tether (USDT) coin.
A brief History of Tether (USDT)
The beginning of the publication of Tether was by uploading a whitepaper by J.R Willet who wanted to create a new currency on the Bitcoin blockchain and he made this idea happen by creating a cryptocurrency called Mastercoin which is a member of the Mastercoin Foundation. The results of the Mastercoin protocol will be the foundation for the creation of Tether, which was made by one of the members of the Mastercoin Foundation and also one of the founders of Tether, Brock Pierce.
In the process of developing Tether, Brock Pierce was assisted by several friends: Reeve Collins, and Craig Sellars. Reeve Collins was appointed as CEO of Tether and they launched Tether on February 25, 2015. Where Tether already supports 3 conventional currencies: US Dollar, Euro, and Yen.
Tether Today
It's been 6 years since the launch of Tether (USDT) for the first time, now Tether has become a StableCoin that is very much in demand by many people. This can be proven by only 6 years running when Tether has entered the top 5 categories of all cryptocurrencies in the world.
Total MarketCap from Tether when this article was created had touched $39,543,856,105.
The volume of Tether traded on all markets that provided Tether in the last 24 hours totaled $78,323,439,701. Meanwhile, the amount of Tether that is circulating in the market and in public hands now is 39,437,067,876 USDT.
A Place That Provides Tether
You can get all of these Tether on exchanges that provide USDT in their list of coins. You can see some examples of exchanges that provide USDT in the image below and for more details you can visit the CoinMarketCap website.
The Reason Tether Is So Famous As StableCoin
The reason why Tether is so popular with many people that it has entered the Top 5 of cryptocurrencies is the incredible stability of the coin.
We can see in the picture below, there is shown the Tether price chart from the start of its launch in 2015 until now in 2021 if we look at the price of the Tether coin which is very stable at $1.00, even the lowest and highest prices that it has achieved in the last 24 hours are fixed $1.00.
In its history, USDT has only experienced its lowest price decline on April 29, 2017. Which touched a price of only $0.935496.
But only 1 month apart, he was able to immediately return the price even to the hefty figure of $1.0088794.
Conclusion
By looking at the various things that Tether (USDT) has, I would not hesitate to say that it is the "King of StableCoin". Because indeed the level of price stability that USDT has is very good and it has been able to enter the Top 5 ranking of cryptocurrencies in the world in just 6 years.
CC: @yohan2on
CC: @steemitblog
CC: @steemcurator01
CC: @steemcurator02
Hi @aumbamumang
Thanks for attending the 6th -Crypto course and for your effort in doing the given homework task.
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This is good work. Well done with your research study on Tether.
Homework task
8.5
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Thanks professor
I hope my research can be useful for the other steemians
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