Tether is the world’s largest ‘stablecoin’ by market capitalisation. In theory, stablecoins offer a less volatile alternative to bitcoin and altcoins because their value is tied to a fiat currency such as the US Dollar.
As a result, they’re not typically bought by those looking to speculate on prices. Instead, Tether and other stablecoins are all about decentralised finance or ‘DeFi’, and the anonymity they offer.
