Tether (USDT) traded 0% higher against the U.S. dollar during the 24 hour period ending at 9:00 AM E.T. Tether has a market cap of $183.14 billion and approximately $37.44 billion worth of Tether was traded on exchanges in the last 24 hours. Tether’s USDT is backed by reserves in cash and cash equivalents, allowing token holders to redeem their USDT for USD. Thanks to DeFi protocols and exchanges’ savings programs, many cryptocurrency users also save using USDT and other stablecoins. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Tether using one of the aforementioned exchanges.