BHI 3.0·Q1 2026 Bulletin
Last computed 14:32 UTC, Apr 29 2026·Spearman ρ = 0.83·Validation: preliminary
Today's bulletin →
Movers · since 14:32 UTC, Apr 29 2026
PLATFORM PROFILEUSDT

Tether (USDT)

$184B$7.9T annual transfersCrypto Assets
1.72
B-index (V3.1)
EVENT HORIZON
Capture0.973
Escape0.565
Key Structural Insight

USDT is not a token. It is infrastructure. Lock-in measured by cost of re-denominating an entire economy.

Eleven-Parameter Profile

5DATAMEMACTPROCNETCLOSEPORTSUBFALLORGMOM
Data Depth4/10
Memory3/10
Action5/10
Process8/10
Network9/10
Closeness8/10
Portability7/10
Substitutability4/10
Human Fallback6/10
Org Depth7/10
Momentum4/10
Capture Escape Extended

V3.1 Decomposition

ComponentValueFormula
CES₄ capture core0.4836CES(d, m, a, p)
Knowledge synergy σₖ0.3464√(d · m)
Operability synergy σₒ0.6325√(a · p)
Synergy boost1.14681 + 0.3·(σₖ + σₒ)/2
Org-depth multiplier1.35001 + 0.5·o
Momentum multiplier1.12001 + 0.3·t
Total Capture0.9728c·(1+0.5n)·core·syn·org·mom
CES₃ escape core0.5594CES(x, s, h)
Feedback attenuation0.8307max(0.3, 1 − 0.35·core)
Total Escape0.5647ε + escCore · feedback
B = Capture / Escape1.720.973 / 0.565

Scoring Rationale

$7.9T annual transfers. Integrated into every CEX and most DeFi. Primary dollar-access in emerging markets. TRON processes 51%+ of all USDT. Default quote currency across crypto.

Parameter Sensitivity

MARGINAL B-INDEX CHANGE PER ±1 SCORE SHIFT
CLOSE8
+0.43
MEM3
+0.29
DATA4
+0.25
ACT5
+0.23
SUB4
-0.20
PROC8
+0.18
FALL6
-0.16
PORT7
-0.15
ORG7
+0.13
NET9
+0.12
MOM4
+0.09
+ raises B (deepens lock-in) lowers B (aids escape)

Comparable PlatformsCrypto Assets (9 peers)

#PlatformTickerB-indexZone
01Solana (SOL)SOL4.83BLACK HOLEProfile →
02Ethereum (ETH)ETH4.57BLACK HOLEProfile →
03BNBBNB3.47BLACK HOLEProfile →
04Hyperliquid (HYPE)HYPE3.25BLACK HOLEProfile →
05TRON (TRX)TRX1.85EVENT HORIZONProfile →
06Bitcoin (BTC)BTC1.82EVENT HORIZONProfile →
07Cardano (ADA)ADA1.12TRANSITIONProfile →
08XRPXRP1.02TRANSITIONProfile →
09Dogecoin (DOGE)DOGE0.17USEFUL TOOLProfile →