Live USDT Price and Market Data
The current Tether (USDT) price is LKR 300.230. The 24-hour trading volume stands at LKR 7,166,169,264,445. Over the past day, USDT has seen a slight increase of +0.12%. In the last hour, the price remained stable with a change of 0.00%. Tether’s total and circulating supply is currently $157,826,202,745.26. It holds the #3 ranking on CoinGecko.
Key market metrics:
- Circulating Supply: $157.83B
- Fully Diluted Market Cap: $157.86B
As of the latest update, the conversion rate via CoinGecko is 1 USDT = LKR 300.230. Accordingly, 1 Sri Lankan Rupee (LKR) is equivalent to a corresponding fraction of USDT.
USDT to LKR Conversion Calculator
You can easily convert between Tether (USDT) and the Sri Lankan Rupee (LKR) using widely available online tools. These calculators provide real-time exchange rates to facilitate accurate conversions.
- Convert Tether to Sri Lankan Rupee
- Convert Sri Lankan Rupee to Tether
👉 Check the latest conversion rates here
Understanding Tether (USDT)
Tether (USDT) is the world's largest stablecoin by market capitalization. Launched in 2014 by Tether Limited, it was created to offer a digital asset with reduced volatility.
Stablecoins are a unique category of cryptocurrency. Their primary purpose is to maintain a stable market value, providing a haven from the price swings common in other digital assets.
USDT operates on numerous blockchains for broad accessibility. This multi-chain support includes Ethereum, Tron, Solana, Algorand, Avalanche, and several other major networks.
As a fiat-backed stablecoin, USDT is pegged 1:1 to the U.S. dollar. This means one USDT is designed to always be worth one U.S. dollar. To uphold this peg, Tether Limited maintains reserves. These reserves consist of cash, cash equivalents, and other assets that collectively back the total supply of USDT in circulation.
Tether's current market capitalization is approximately LKR 47,383,539,704,250.00. The circulating supply remains at $157,826,202,745.26.
It is crucial to distinguish between USD and USDT. USD is the fiat currency issued by the United States government. USDT is a privately issued cryptocurrency designed to track the value of the USD. Tether’s website provides regular attestations to offer transparency regarding its reserves.
Frequently Asked Questions
What is Tether (USDT)?
Tether (USDT) is a type of cryptocurrency known as a stablecoin. It is designed to maintain a value pegged to the U.S. dollar, offering stability in the volatile crypto market. It is widely used for trading, transfers, and as a dollar-denominated digital asset.
How does USDT maintain its peg to the dollar?
Tether Limited, the company behind USDT, maintains a reserve of assets. These reserves are intended to back every circulating USDT token on a 1:1 basis. The composition of these reserves is periodically disclosed to promote transparency and trust in the stablecoin's value.
Is USDT the same as USD?
No, they are not the same. USD is traditional physical currency issued by the U.S. Federal Reserve. USDT is a digital token on a blockchain that aims to replicate the value of the USD. It is not legal tender and is issued by a private company.
On which blockchains is USDT available?
USDT is a multi-chain asset, meaning it exists on many different blockchain networks. This broad deployment enhances its utility and accessibility for users across various ecosystems in the crypto space.
Why is USDT so popular?
USDT's popularity stems from its stability and liquidity. As a major stablecoin, it provides a safe harbor from crypto volatility, acts as a bridge between fiat and cryptocurrencies, and is a fundamental trading pair on nearly all major exchanges.
Can the value of USDT change?
While designed to be stable, the market price of USDT can experience minor fluctuations above or below its $1.00 peg due to market supply and demand dynamics. However, its design and reserve backing aim to keep these deviations minimal.