Tether (CURRENCY:USDT) traded 2.1% higher against the U.S. dollar during the one day period ending at 8:00 AM Eastern on February 8th. During the last week, Tether has traded 3.1% higher against the U.S. dollar. Tether has a total market cap of $2.28 billion and approximately $2.69 billion worth of Tether was traded on exchanges in the last day. One Tether token can currently be purchased for $1.03 or 0.00012041 BTC on popular exchanges including Bittrex, Liqui, Exmo and Huobi.
Here’s how similar cryptocurrencies have performed during the last day:
- Ripple (XRP) traded down 0.2% against the dollar and now trades at $0.78 or 0.00009196 BTC.
- NEO (NEO) traded 1.6% lower against the dollar and now trades at $113.68 or 0.01332300 BTC.
- Stellar (XLM) traded down 1.4% against the dollar and now trades at $0.37 or 0.00004308 BTC.
- IOTA (MIOTA) traded up 2% against the dollar and now trades at $1.84 or 0.00021548 BTC.
- TRON (TRX) traded down 0.9% against the dollar and now trades at $0.0374 or 0.00000438 BTC.
- VeChain (VEN) traded 1.9% lower against the dollar and now trades at $4.43 or 0.00051964 BTC.
- Populous (PPT) traded down 11.9% against the dollar and now trades at $36.64 or 0.00429424 BTC.
- Binance Coin (BNB) traded down 2.7% against the dollar and now trades at $8.67 or 0.00101605 BTC.
- Status (SNT) traded down 1.1% against the dollar and now trades at $0.22 or 0.00002565 BTC.
- Maker (MKR) traded 4.4% higher against the dollar and now trades at $1,031.31 or 0.12087200 BTC.
According to CryptoCompare, “USDT is a cryptocurrency asset issued on the Bitcoin blockchain via the Omni Layer Protocol. Each USDT unit is backed by a U.S Dollar held in the reserves of the Tether Limited and can be redeemed through the Tether Platform. USDT can be transferred, stored, spent, just like bitcoins or any other cryptocurrency. USDT and other Tether currencies were created to facilitate the transfer of national currencies, to provide users with a stable alternative to Bitcoin and to provide an alternative for exchange and wallet audits which are currently unreliable. USDT provides an alternative to Proof of Solvency methods by introducing a Proof of Reserves Process. In the Tether Proof of Reserves system, the amount of USDT in circulations can be easily checked on the Bitcoin blockchain via the tools provided at Omnichest.info, while the corresponding total amount of USD held reserves is proved by publishing the bank balance and undergoing periodic audits by professionals. “
Buying and Selling Tether
Tether can be bought or sold on the following cryptocurrency exchanges: Exmo, Huobi, HitBTC, Bittrex, Bibox, Gate.io, Binance, Upbit, Kraken, Tidex, Poloniex, Coinbene, Liqui, Cryptopia, ZB.COM, Kucoin, OKEx, Bitfinex, EXX and Coinut. It is not presently possible to purchase Tether directly using U.S. dollars. Investors seeking to acquire Tether must first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Tether using one of the aforementioned exchanges.
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