Tether (USDT) Trading Down 0% Over Last Week

Tether (USDT) traded down 0% against the U.S. dollar during the 24-hour period ending at 12:00 PM E.T. on August 6th. One Tether coin can now be bought for about $1.00 or 0.00004306 BTC on major cryptocurrency exchanges. In the last week, Tether has traded 0% lower against the U.S. dollar. Tether has a total market capitalization of $66.48 billion and approximately $36.18 billion worth of Tether was traded on exchanges in the last day.

Here is how similar cryptocurrencies have performed in the last day:

  • JUMPN (JST) traded 54% lower against the dollar and now trades at $5.46 or 0.00018651 BTC.
  • Tarality (TARAL) traded 106.3% higher against the dollar and now trades at $0.0014 or 0.00000006 BTC.
  • The Web3 Project (WEB3) traded up 0.3% against the dollar and now trades at $144.82 or 0.00623613 BTC.
  • Sweet SOL (SSOL) traded 600.9% higher against the dollar and now trades at $0.0001 or 0.00000000 BTC.
  • Bitsubishi (BITSU) traded 37.7% higher against the dollar and now trades at $98.34 or 0.00428675 BTC.
  • XRP (XRP) traded up 1.3% against the dollar and now trades at $0.38 or 0.00001617 BTC.
  • Wrapped Cardano (WADA) traded 0.8% higher against the dollar and now trades at $0.52 or 0.00002218 BTC.
  • Gateway Protocol (GWP) traded up 1.7% against the dollar and now trades at $3.64 or 0.00015653 BTC.
  • Lido stETH (STETH) traded down 0.6% against the dollar and now trades at $2,947.45 or 0.07417648 BTC.
  • Polkadot (DOT) traded up 3.9% against the dollar and now trades at $8.71 or 0.00037526 BTC.

About Tether

Tether launched on October 6th, 2014. Tether’s total supply is 69,158,976,389 coins and its circulating supply is 66,476,525,455 coins. Tether’s official Twitter account is @Tether_to and its Facebook page is accessible here. The official website for Tether is tether.to.

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 presently 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 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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