Tether (USDT) is often considered the oldest stablecoin, launched in 2014. Tether is designed to be pegged to the US dollar, with each USDT token representing a 1:1 ratio with the US dollar. It has gained significant traction and remains one of the most widely used stablecoins in the cryptocurrency market. Since its inception, numerous other stablecoins have been introduced, offering alternative features and pegs to different fiat currencies or assets.