Tether (CURRENCY:USDT) traded 0% higher against the dollar during the 1 day period ending at 19:00 PM E.T. on January 14th. Tether has a market capitalization of $78.43 billion and approximately $59.86 billion worth of Tether was traded on exchanges in the last day. One Tether coin can currently be purchased for about $1.00 or 0.00002324 BTC on popular exchanges. During the last week, Tether has traded up 0% against the dollar.
Here is how related cryptocurrencies have performed during the last day:
- XRP (XRP) traded up 0.5% against the dollar and now trades at $0.77 or 0.00001798 BTC.
- Polkadot (DOT) traded up 6.8% against the dollar and now trades at $27.63 or 0.00064183 BTC.
- Shiba Inu (SHIB) traded 4.4% higher against the dollar and now trades at $0.0000 or 0.00000000 BTC.
- Internet Computer (ICP) traded up 2.7% against the dollar and now trades at $32.46 or 0.00075408 BTC.
- Lido stETH (STETH) traded up 2.4% against the dollar and now trades at $3,310.32 or 0.07689156 BTC.
- stETH (Lido) (STETH) traded flat against the dollar and now trades at $3,479.19 or 0.06807369 BTC.
- Bitcoin BEP2 (BTCB) traded up 1.6% against the dollar and now trades at $43,035.20 or 0.99961553 BTC.
- Toncoin (TONCOIN) traded up 3.3% against the dollar and now trades at $3.69 or 0.00008569 BTC.
- Filecoin (FIL) traded up 3.6% against the dollar and now trades at $29.68 or 0.00068946 BTC.
- Klaytn (KLAY) traded down 1.5% against the dollar and now trades at $1.39 or 0.00003231 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 traditional currency and cash equivalents held in the reserves of the Tether Limited and can be redeemed for 1 USD 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 according to its whitepaper. 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 (not publicly auditable yet). “
Tether Coin Trading
It is usually not currently possible to buy alternative cryptocurrencies such as Tether directly using U.S. dollars. Investors seeking to trade Tether should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Tether using one of the exchanges listed above.
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