CNH Tether
CNHT
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
CNHT (CNH Tether) is a centralized offshore Chinese yuan-pegged stablecoin issued by Tether that is undergoing formal discontinuation. On February 20, 2026, Tether announced the cessation of all new issuances and the scheduled wind-down of redemption support due to lack of demand. Active Development had insufficient data (-1.0) and was excluded from the weighted score calculation as the project is undergoing an active sunset with no ongoing development. Across other categories, CNHT exhibits severe fundamental distress: grassroots community support is practically non-existent (0.5/10), tokenomics are impaired with near-zero circulating supply and winding-down operations (1.5/10), and market adoption is negligible with near-zero trading volume (2.0/10). Security and Audit History scored 1.5/10 due to counterparty risks and a catastrophic, unrecovered depeg where the token traded at approximately $0.0101 (over 90% below nominal peg). Under the deprecated token rule, because CNHT is officially discontinued and winding down, the investment recommendation is Avoid.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About CNH Tether (CNHT)
CNH Tether (CNHT) is a deprecated offshore Chinese yuan-pegged stablecoin that was officially discontinued by Tether on February 20, 2026. Launched in April 2019 and issued by Tether entities on the Ethereum and Tron blockchains, the asset was designed to bring the offshore Chinese renminbi on-chain. Supply was managed through a centralized mint-and-burn process overseen by Tether Holdings executive leadership, including CEO Paolo Ardoino and Chairman Giancarlo Devasini, without decentralized autonomous organization (DAO) governance or on-chain voting rights for holders.
Following low demand and negligible market adoption, Tether announced the formal sunset of the token, halting all new issuances immediately and establishing a one-year timeline to terminate redemption support. Tracking metrics show a total supply of approximately 45,000,000 tokens with an inactive circulating supply, negligible trading volume, and market capitalization estimates between $202,000 and $207,000.
CNHT experienced a severe and unrecovered depeg, with its market price dropping from approximately $0.09 in December 2025 to $0.0101, trading more than 90% below its nominal CNH peg amid illiquidity. The token lacked a dedicated, publicly listed smart contract audit. At the issuer level, historical security events include a November 2017 treasury compromise resulting in the theft of approximately $31 million in USDT, as well as ongoing counterparty scrutiny, including January 2026 public criticism by a former SEC enforcer regarding Tether's reserve attestation practices.