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Copied ₹99.54
₹ 99.54
Market Cap
₹ 17.73 T -0.1121%
Circulating Supply
184219000000
Max Supply
--
Volume
₹ 4.62 T
All Time High :
₹ 105.52
All Time Low :
₹ 36.86
Price change in 24H :
₹ 0.148953
24H High :
₹ 96.46
24H Low :
₹ 96.16
Tether (USDT) is a stablecoin, a type of cryptocurrency designed to maintain a stable value by being pegged 1:1 to the US dollar. Launched in 2014 (originally as "Realcoin"), USDT was one of the first stablecoins ever created and remains the dominant one by trading volume and market capitalization. Every USDT token is intended to always be redeemable for one US dollar, backed by a reserve of cash, cash equivalents, short-term US Treasury bills, and other assets held by Tether Limited, the company that issues the token.
Unlike volatile assets such as Bitcoin or Ethereum, USDT's price rarely strays far from $1.00, making it the preferred "safe harbor" asset for traders who want to exit volatile positions without converting all the way back to fiat currency.
How does Tether (USDT) maintain its $1 peg?
Tether uses a reserve-backed model. For every USDT in circulation, Tether Limited claims to hold an equivalent value in reserve assets, primarily short-term US Treasury securities, cash, and cash equivalents, along with smaller allocations to other assets like precious metals, Bitcoin, and secured loans. Tether publishes quarterly attestation reports from independent accounting firms detailing the composition of these reserves.
The peg is maintained through a mint-and-burn mechanism: when demand for USDT increases (for example, institutional buyers or exchanges want more USDT), Tether mints new tokens after receiving equivalent fiat deposits. When holders redeem USDT for dollars, Tether burns (destroys) the corresponding tokens, removing them from circulating supply. This constant mint/burn cycle is why large "USDT burn" events regularly make crypto news headlines — they generally reflect redemption activity and treasury rebalancing rather than any change in the token's underlying value.
This is one of the most common questions asked about USDT, and it deserves a balanced answer rather than a simple yes or no.
It has maintained its dollar peg through multiple severe market crashes, including the 2022 Terra/LUNA collapse and the FTX bankruptcy, both of which caused other stablecoins to depeg or fail entirely.
It publishes regular reserve attestations from independent auditors.
It is the most liquid stablecoin on the market, meaning it's easy to buy and sell at expected prices across nearly every major exchange.
Tether has previously settled with regulators (including the CFTC and the New York Attorney General) over past disclosures about its reserve composition, and it does not undergo a full GAAP audit in the same way a public company would; it publishes quarterly attestations rather than a comprehensive annual audit.
USDT is not always available in every jurisdiction; recent regulatory changes, particularly in the European Union, have led some platforms to restrict or delist USDT for regional users (see the news section below).
Like any stablecoin, USDT carries "depeg risk" during periods of extreme market stress, even if that risk has historically been brief and limited.
Trading: USDT is the base trading pair for thousands of crypto assets on exchanges worldwide, letting traders move in and out of positions without needing to convert to fiat each time.
Cross-border payments and remittances: Because USDT settles quickly and cheaply on networks like Tron, it has become popular for international money transfers, especially in emerging markets.
DeFi: USDT is used as collateral, a lending/borrowing asset, and a liquidity pool asset across decentralized finance protocols.
Store of value during volatility: Traders "park" funds in USDT during market downturns instead of fully cashing out to fiat.
Merchant payments: A growing number of businesses and payment processors accept USDT directly for goods and services.
USDT is a multi-chain asset, meaning the same token exists on several different blockchain networks simultaneously (though balances are not automatically interchangeable between chains; you must use a bridge or an exchange to move value across networks). The most widely used networks include:
Tron (TRC-20): The dominant network for USDT by transfer volume, especially popular for its very low transaction fees; Tron's circulating USDT supply surpassed $90 billion in July 2026.
Ethereum (ERC-20): The original and most widely integrated network, especially for DeFi applications.
Solana: Increasingly used for fast, low-cost transfers.
Bitcoin (via the RGB protocol): A 2026 development bringing native USDT issuance back to the Bitcoin network for the first time since Tether's original 2014 Omni-protocol launch (covered in detail in the news section below).
Other networks: Avalanche, Polygon, Arbitrum, and several additional EVM-compatible chains.
Choose a reputable, FIU-compliant, regulated exchange SunCrypto listed USDT.
Complete KYC verification as required by the exchange.
Deposit funds via bank transfer, UPI (in India), debit/credit card, or another cryptocurrency.
Buy USDT using a market or limit order against your local currency or another crypto asset.
Choose your network carefully when withdrawing; sending USDT to a wallet requires selecting the correct blockchain (e.g., TRC-20, ERC-20, or BEP-20); sending to the wrong network can result in permanent loss of funds.
Indian crypto users frequently search for the safest way to convert USDT into Indian rupees. While peer-to-peer (P2P) trading on platforms like Binance P2P is common, it carries real risks, including bank account freezes when funds from another user's account are later flagged as linked to fraud or money laundering, even when the seller did nothing wrong. This is one of the most-cited complaints about USDT-to-INR conversion in India today.
SunCrypto, a registered Indian centralized crypto exchange (CEX), offers a direct, compliant alternative: converting USDT to INR through a regulated spot trade rather than a person-to-person transaction. Because the trade happens against the exchange's own order book rather than another individual's bank account, it avoids the counterparty and fund-tracing risks associated with P2P transfers, while keeping the process fully KYC-compliant and TDS-compliant under Indian tax law.
Step 1: Deposit Your USDT
Open the SunCrypto app and head to the Portfolio section.
Search for USDT and select the Deposit option.
Choose your blockchain network carefully; sending on an unsupported network can cause permanent loss of funds.
Compare fees across networks; BEP20 is currently a zero-fee option on the platform.
Copy the wallet address SunCrypto generates for that network.
Step 2: Transfer USDT From Your External Wallet
Open your external wallet (Trust Wallet, MetaMask, etc.).
Select Send, then choose USDT.
Paste the SunCrypto wallet address you copied.
Enter the amount you wish to transfer and confirm the transaction.
Wait for network confirmation; your USDT will then reflect in your SunCrypto portfolio.
Step 3: Sell USDT for INR
Return to the Portfolio section and select USDT.
Tap Sell and choose the amount you want to convert.
Confirm the order using your MPIN.
The sell order executes instantly, converting your USDT to its INR equivalent within your portfolio.
Step 4: Complete the Originator Form and Withdraw
Go to the Reports section under your profile.
Open the Crypto Deposit/Withdraw Report.
Click Submit Originator Info against your latest transaction (a mandatory compliance step under Indian crypto regulations).
Fill in the requested details and submit; approval typically takes one to two minutes, with a confirmation notification once approved.
Return to Portfolio and select INR Withdraw.
Choose your linked bank account and enter the withdrawal amount.
Verify using the OTP sent to your registered phone number.
Confirm with your MPIN to finalize the withdrawal.
Funds typically land in your bank account within a day.
This method keeps the entire transaction on a single regulated platform, with the mandatory Originator Info step and 1% TDS deduction handled directly through the app, creating a clean, traceable record for tax filing and avoiding the scam and account-freeze risks tied to direct P2P counterparties.
Note: Cryptocurrency products in India are currently unregulated as an asset class, and gains from selling virtual digital assets like USDT are subject to a flat 30% tax plus 1% TDS on the sale value. This section is for informational purposes and is not tax or investment advice; consult a tax professional for your specific situation.
Stablecoin demand has surged in 2026 as traders and institutions navigate volatile crypto market conditions. Data reported in mid-July 2026 showed USDT's dominance climbing approximately 88% compared with a year earlier, surpassing levels seen in both July 2024 and July 2025. Analysts attribute the rise to investors increasingly relying on stablecoins for liquidity management, trading, and cross-border transactions amid volatile market conditions across Bitcoin, Ethereum, and other cryptocurrencies. Rising dominance is generally read as a sign of growing institutional stablecoin reserves and increased payment-related adoption rather than price appreciation alone, since dominance reflects changing market behavior.
Despite this strength, competition in the stablecoin sector continues to intensify. Industry data circulating in July 2026 indicated that Circle's USDC accounted for roughly 70% of adjusted stablecoin transaction volume in the first half of the year, compared to about 25% for USDT, even though Tether continues to lead in overall market capitalization and remains dominant within specific ecosystems such as Tron.
On July 7, 2026, Tether executed one of its largest single-day burns of the year: a $2.5 billion USDT burn on the Ethereum network, its largest single reduction since February 2026. According to blockchain analytics, this burn reduced total circulating USDT supply by approximately 1.3%, reflecting substantial customer redemptions rather than a strategic deflationary move, and the USDT peg remained stable around $1.00 throughout the event.
It's worth understanding what these burns actually mean for holders: burning is how Tether removes USDT after users or exchanges redeem it for dollars. The company creates new USDT when demand rises and burns it when holders cash out, a process designed to keep one USDT equal to one dollar at all times. Importantly, a large burn does not change what existing holders' tokens are worth balances remain the same, and each token remains worth one dollar. The same week, Binance's USDT balance on the Tron network fell to roughly $806 million, its lowest level since December 2025 and the first time it dropped below $1 billion in over six months, a coincidence analysts flagged as worth watching for broader cross-chain liquidity shifts.
One of the most significant technical developments of mid-2026 is Tether's move to reissue USDT natively on the Bitcoin network. Tether announced plans to launch USDT on Bitcoin using the RGB protocol v0.11.1, marking a return to Bitcoin after roughly a decade, with the rollout led by software lab UTEXO. RGB is designed to let stablecoins exist natively on Bitcoin with private, scalable, user-controlled transfers, using client-side validation without third-party validators or federations.
This represents a notable full-circle moment for the company: USDT originally launched on Bitcoin back in 2014 through the Omni protocol (then known as Mastercoin), before activity later shifted primarily to Tron and Ethereum as users sought faster transactions and lower fees. The new integration is expected to enable private, instant USDT transfers directly on the Bitcoin network and the Lightning Network, potentially unlocking new micropayment and offline-transaction use cases. The rollout is expected within weeks of the announcement, with support planned from the Tether Wallet and partner exchanges.
Not all of Tether's July 2026 headlines have been positive. Digital bank Revolut announced it will delist USDT for customers in the European Economic Area and Switzerland by August 31, 2026, in order to comply with the EU's Markets in Crypto-Assets Regulation (MiCA). Tether has opted not to seek authorization under MiCA, leading to this phased exit from a major European retail platform. Purchases of USDT on Revolut ended on July 6, 2026, with deposits set to stop on July 30 and users given until the end of August to transfer holdings to external wallets before facing potential forced conversion.
This regulatory gap has coincided with Tether's parallel strategy of launching USAT, a US-focused, compliance-oriented stablecoin, as the company balances global growth against varying regional regulatory requirements. The result is a bifurcated strategy: continued dominance in less-regulated or emerging markets alongside a purpose-built compliant product for the US market, while facing friction in the EU specifically due to non-compliance with MiCA's stablecoin authorization requirements.
Beyond core stablecoin issuance, Tether has continued an aggressive diversification and infrastructure push throughout 2026:
Self-Custody Tether Wallet: Launched in April 2026, this app lets users directly control USDT, Bitcoin, and gold-backed tokens across multiple blockchains from a single self-custody interface.
Open Developer Grants Program: Launched in May 2026, this program funds builders working on Tether's open technology stack, with no cap on payouts, signaling an effort to grow developer adoption around Tether's broader technology ecosystem rather than just the stablecoin itself.
GELT — the Georgian Lari Stablecoin: Announced in 2026, this is a government-backed stablecoin project developed in partnership with the nation of Georgia, extending Tether's technology into sovereign-backed digital currency projects.
Investment in Mercado Bitcoin: Tether invested $20 million in Mercado Bitcoin, a leading regulated digital asset platform in Latin America serving 4.5 million customers, supporting the platform's expansion into tokenization, payments, credit, and regulated digital financial services in the region.
Lead Investment in NEURA Robotics: Tether has taken a lead investment position in NEURA Robotics as part of an up to $1.4 billion funding round, marking a strategic expansion into physical AI and robotics, well outside traditional stablecoin operations.
Sony Bank's Competing Stablecoin Approval: The OCC granted Sony Bank conditional approval for a trust bank charter in the US, signaling growing institutional competition in the stablecoin sector that Tether will need to navigate as more traditional financial institutions enter the space.
Richard Heathcote, former Chief Investment Officer of Tether, is reportedly seeking to sell part of his 1.26% stake in the company through PJT Partners, a transaction that could offer rare public insight into Tether's private market valuation, given the company's historically closed-door approach to ownership and financial disclosure.
Analysts and industry observers tracking Tether's heading into the back half of 2026 are focused on several key themes:
Bitcoin/RGB rollout execution — whether native USDT on Bitcoin actually ships on schedule and gains meaningful wallet and exchange support, or whether it remains a niche offering.
European regulatory resolution — whether Tether eventually pursues MiCA authorization to regain access to EU retail platforms, or whether it continues ceding ground to MiCA-compliant competitors like USDC in that market.
USAT adoption in the US — how quickly Tether's US-compliant stablecoin gains traction against increasing competition from traditional banks entering the stablecoin space.
Reserve transparency — whether Tether's ongoing quarterly attestations and any move toward a fuller audit continue to satisfy institutional and regulatory scrutiny as stablecoin oversight tightens globally.
Cross-chain liquidity shifts — continued monitoring of large burn events and exchange balance changes across Tron, Ethereum, and newly added networks as indicators of where stablecoin demand is migrating.
USDT is primarily used as a trading pair on crypto exchanges, a store of value during market volatility, a settlement asset in DeFi, and increasingly for cross-border payments and remittances due to its speed and low cost compared to traditional wire transfers.
Tether states that USDT is backed by a reserve of cash, cash equivalents, short-term US Treasury bills, and other assets, published in quarterly attestation reports by independent accounting firms. It is not backed by a full annual GAAP audit in the way a public company's financials are.
USDT has experienced brief, minor depegging episodes during extreme market stress (for example, during the 2023 US regional banking crisis), but it has historically recovered its $1 peg quickly. No stablecoin peg is entirely risk-free.
Yes. Cryptocurrency transactions, including buying and selling USDT, are legal in India when conducted through KYC-compliant, registered exchanges. Transactions are subject to a flat 30% tax on gains and a 1% TDS on the sale value under India's virtual digital asset (VDA) tax rules.
Both are dollar-pegged stablecoins, but USDT (Tether) has the largest overall market capitalization and dominates transfer volume on networks like Tron, while USDC (Circle) is often viewed as more transparent in its reserve reporting and has recently led in overall adjusted transaction volume share.
USDT "burns" typically reflect redemptions; when large holders or institutions cash out USDT for dollars, Tether destroys the corresponding tokens to keep supply matched to demand. Burns are a routine part of Tether's treasury management, not a sign of instability.
Tron (TRC-20) is generally faster and cheaper for transfers, making it popular for remittances and exchange withdrawals, while Ethereum (ERC-20) is more widely integrated with DeFi protocols. Always confirm which network the receiving wallet or exchange supports before sending, since sending to the wrong network can result in permanent loss of funds.
You can use a regulated Indian exchange such as SunCrypto to sell USDT directly against the USDT/INR trading pair and withdraw the resulting INR straight to your verified bank account, avoiding the counterparty risks associated with P2P trading (see the step-by-step guide above).
USDT is often described as the "reserve currency" of crypto trading; it provides the liquidity bridge that lets traders move between volatile assets without fully exiting to fiat currency, and it plays a central role in exchange order books, DeFi lending markets, and now increasingly in cross-border payments infrastructure.
Both terms apply in context: "Tether" refers to the company (Tether Limited) that issues the stablecoin, while "USDT" is the actual token/cryptocurrency that trades on blockchains and exchanges.
