USDT, or Tether, is a type of cryptocurrency known as a stablecoin. It is designed to maintain a stable value by being pegged to a fiat currency, specifically the U.S. dollar. This means that for every USDT issued, there is an equivalent amount of U.S. dollars held in reserve, making it easier for users to trade and transact without the volatility often associated with other cryptocurrencies. USDT is widely used in the cryptocurrency market for trading and as a means of transferring value. It allows users to move funds quickly between exchanges and provides a stable option for holding value in the digital space. Its popularity has made it one of the most traded cryptocurrencies globally.