What CoinGraph said about tether, exactly as issued.

{
  "token": {
    "id": "tether",
    "name": "Tether",
    "rank": 3,
    "symbol": "USDT"
  },
  "reasons": [
    {
      "text": "3 transfer(s) ≥ $5M to exchanges in 24h (largest $270.6M → binance)",
      "source": "nownodes:onchain_transfers",
      "dimension": "onchain"
    }
  ],
  "verdict": "caution",
  "snapshot": {
    "market": {
      "rank": 3,
      "as_of": "2026-10-21T03:46:00.000Z",
      "ath_usd": 1.32,
      "atl_usd": 0.572521,
      "sources": [
        {
          "as_of": "2026-10-21T03:46:00.000Z",
          "endpoint": "/coins/markets",
          "provider": "coingecko"
        }
      ],
      "ath_date": "2018-07-23T16:00:00.000Z",
      "price_usd": 0.999109,
      "change_pct": {
        "1h": -0.01,
        "1y": -0.1309,
        "4h": -0.02,
        "7d": -0.0228,
        "15m": 0,
        "24h": -0.01,
        "30d": -0.055,
        "200d": -0.0711
      },
      "low_24h_usd": 0.999032,
      "from_ath_pct": -24.49,
      "from_atl_pct": 74.51,
      "high_24h_usd": 0.999326,
      "market_cap_usd": 182779044789,
      "volume_24h_usd": 50797508311,
      "volatility_24h_pct": 0.03,
      "volume_to_market_cap": 0.2779,
      "fully_diluted_valuation_usd": 188241121166
    },
    "supply": {
      "top_holders": {
        "as_of": "2026-10-21T00:55:00.000Z",
        "top10": 50,
        "top20": null
      },
      "fdv_to_market_cap": 1.03
    },
    "derivatives": {
      "funding": "unassessed",
      "liquidations_1h": {
        "usd": 0,
        "count": 0,
        "longs_usd": 0,
        "shorts_usd": 0
      }
    },
    "liquidity_depth": "unassessed",
    "onchain_flows_24h": {
      "net_usd": 228654000,
      "inflow_usd": 1233860000,
      "outflow_usd": 1005200000
    }
  },
  "confidence": 0.86,
  "dimensions": {
    "supply": {
      "rating": "ok",
      "reasons": [
        {
          "info": true,
          "text": "FDV / market cap 1.03",
          "source": "coingecko:/coins/markets"
        },
        {
          "info": true,
          "text": "Unlock schedule: unassessed (no free source)",
          "source": "coingraph"
        }
      ]
    },
    "context": {
      "rating": "ok",
      "reasons": [
        {
          "text": "No fundamental or mood flags",
          "source": "coingraph"
        }
      ]
    },
    "onchain": {
      "rating": "caution",
      "reasons": [
        {
          "info": true,
          "text": "Exchange net flow $228.7M in 24h: normal",
          "source": "nownodes:eth_getLogs"
        },
        {
          "text": "3 transfer(s) ≥ $5M to exchanges in 24h (largest $270.6M → binance)",
          "source": "nownodes:onchain_transfers"
        }
      ]
    },
    "contract": {
      "rating": "ok",
      "reasons": [
        {
          "text": "Issuer can change holders' balances (normal for regulated stablecoins and tokenized funds) (ETH)",
          "source": "goplus:/token_security"
        },
        {
          "text": "Supply can be increased (mint authority) (ETH)",
          "source": "goplus:/token_security"
        },
        {
          "text": "Contract can blacklist addresses (ETH)",
          "source": "goplus:/token_security"
        }
      ]
    },
    "leverage": {
      "rating": "unassessed",
      "reasons": []
    },
    "momentum": {
      "rating": "ok",
      "reasons": [
        {
          "text": "1h -0.01%, 24h -0.01%: nothing stretched",
          "source": "coingecko:/coins/markets"
        }
      ]
    },
    "liquidity": {
      "rating": "ok",
      "reasons": [
        {
          "info": true,
          "text": "$375.4M available within 2% of the price across exchanges (CoinGecko)",
          "source": "coingecko:/coins/{id}/tickers"
        }
      ]
    }
  },
  "disclaimer": "CoinGraph never executes, custodies or advises. The caller decides.",
  "size_check": null,
  "watch_next": [
    "Whether the coins sent to exchanges are sold or sit idle"
  ],
  "policy_check": null
}