Tether (USDT) traded down 0% against the U.S. dollar during the 1-day period ending at 12:00 PM Eastern on May 25th. In the last week, Tether has traded up 0% against the U.S. dollar. One Tether coin can now be purchased for about $1.00 or 0.00003370 BTC on major cryptocurrency exchanges. Tether has a market capitalization of $73.20 billion and approximately $49.85 billion worth of Tether was traded on exchanges in the last 24 hours.
Here is how related cryptocurrencies have performed in the last 24 hours:
- Bitsubishi (BITSU) traded down 19.8% against the dollar and now trades at $13,793.53 or 0.46537429 BTC.
- JUMPN (JST) traded 83.9% lower against the dollar and now trades at $17.99 or 0.00060704 BTC.
- XRP (XRP) traded down 0.7% against the dollar and now trades at $0.40 or 0.00001357 BTC.
- Wrapped Cardano (WADA) traded 0.6% higher against the dollar and now trades at $0.52 or 0.00001738 BTC.
- Enegra (EGX) (EGX) traded down 0.1% against the dollar and now trades at $148.01 or 0.00499367 BTC.
- Lido stETH (STETH) traded 0.6% lower against the dollar and now trades at $2,947.45 or 0.07417648 BTC.
- Polkadot (DOT) traded down 0.9% against the dollar and now trades at $9.91 or 0.00033437 BTC.
- Wrapped TRON (WTRX) traded up 2.5% against the dollar and now trades at $0.0838 or 0.00000283 BTC.
- PLC Ultima (PLCU) traded 3.7% lower against the dollar and now trades at $41,603.60 or 1.40364746 BTC.
- Gateway Protocol (GWP) traded up 5.8% against the dollar and now trades at $2.60 or 0.00008761 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). “
Buying and Selling Tether
It is usually not possible to purchase alternative cryptocurrencies such as Tether directly using U.S. dollars. Investors seeking to acquire Tether should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Changelly 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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