USDT to CNY Real-time Exchange Rate Overview
Tether (USDT) is a stablecoin pegged to the value of the US dollar, designed to provide price stability in the cryptocurrency market. Therefore, its exchange rate against other fiat currencies, such as the Chinese Yuan (CNY), primarily depends on the real-time exchange rate of USD to CNY, and may be slightly influenced by supply and demand in the cryptocurrency market.
As of September 18, 2026, according to the latest data from major cryptocurrency exchanges and data providers, 1 USDT is approximately equal to 6.69 to 6.71 Chinese Yuan (CNY). Over the past 24 hours, the USDT to CNY exchange rate has shown minimal fluctuation, with most reports indicating a change of close to 0%.
USDT Market Overview and Data
USDT is one of the most widely circulated stablecoins in the cryptocurrency market. Its vast market size and high trading activity make it an important indicator of market liquidity. Below are some key market data as of September 18, 2026:
- 24-hour Trading Volume: USDT's 24-hour trading volume typically remains in the hundreds of billions of CNY. For example, recent data shows its trading volume is over 500 billion CNY, indicating extremely high market activity.
- Circulating Supply: The circulating supply of USDT is approximately 18.344 billion tokens.
- Max Supply: Its maximum supply is approximately 18.891 billion tokens.
- Fully Diluted Market Cap: USDT's fully diluted market cap is approximately 1.23 trillion CNY.
This data reflects USDT's central position and widespread use in the global cryptocurrency market.
USDT's Mechanism and Main Uses
USDT is issued by Tether, and its core mechanism claims that each USDT issued is backed by an equivalent amount of US dollar reserves. This pegging mechanism aims to ensure that USDT's value consistently remains around 1 US dollar. When Tether mints new tokens based on USD reserves, the supply of USDT increases; when holders redeem USDT and tokens are burned, the supply decreases.
USDT plays multiple key roles in the cryptocurrency ecosystem:
- Trading Pair Pricing: USDT is the base currency for many mainstream cryptocurrency trading pairs (e.g., Bitcoin, Ethereum), such as BTC/USDT, ETH/USDT, etc.
- Market Hedging: During periods of high market volatility, investors often convert other crypto assets into USDT to mitigate price risk.
- Cross-border Payments and Remittances: Due to its stability, fast transactions, and lower fees, USDT is widely used for value transfer within and outside the crypto market, international remittances, and on-chain/off-chain settlements.
Factors Affecting USDT to CNY Exchange Rate
Although USDT is pegged to the US dollar, its exchange rate against the CNY can still be influenced by a combination of factors:
- USD to CNY Exchange Rate: This is the most direct influencing factor. USDT's value closely follows the US dollar, so fluctuations in the official USD to CNY exchange rate will directly reflect in the USDT to CNY price.
- Market Supply and Demand: In the cryptocurrency market, buying and selling demand for USDT may cause its price to be slightly above or below 1 US dollar in the short term, thereby affecting its minor fluctuations against the CNY.
- Tether's Reserve Transparency and Trust: Market confidence in Tether's transparency regarding its US dollar reserves and audit results can also indirectly impact USDT's market performance.
- China's Macroeconomic Environment: Changes in China's economic policies, monetary policies, and international trade environment can all affect the CNY exchange rate, thereby indirectly influencing the conversion price of USDT to CNY.
Investors trading USDT to CNY should closely monitor the aforementioned factors and refer to multiple data sources to obtain the most accurate real-time exchange rates.
