Tether has the trading volume of Bitcoin, Ethereum and Ripple combined, per a recent report from CoinMarketCap. Notably, Tether admitted last year it is actually only 74% backed by cash or equivalents.
“Whether it’s solvent or not remains up for debate, but Tether has managed to maintain its dollar-peg in all but the most extreme circumstances and remains one of the least volatile USD stablecoins,” according to the article.