Tether (USDT) traded down 0% against the dollar during the 24-hour period ending at 12:00 PM ET on April 30th. One Tether coin can currently be bought for $1.00 or 0.00002595 BTC on cryptocurrency exchanges. During the last seven days, Tether has traded down 0% against the dollar. Tether has a market capitalization of $83.16 billion and approximately $53.36 billion worth of Tether was traded on exchanges in the last day.
Here’s how similar cryptocurrencies have performed during the last day:
- XRP (XRP) traded 0.5% lower against the dollar and now trades at $0.62 or 0.00001601 BTC.
- Polkadot (DOT) traded 4.5% lower against the dollar and now trades at $15.81 or 0.00041018 BTC.
- Shiba Inu (SHIB) traded 2.6% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
- Lido stETH (STETH) traded 0.6% lower against the dollar and now trades at $2,947.45 or 0.07417648 BTC.
- Lido Staked ETH (stETH) traded down 1.1% against the dollar and now trades at $2,802.62 or 0.07273006 BTC.
- Wrapped TRON (WTRX) traded down 3% against the dollar and now trades at $0.0626 or 0.00000163 BTC.
- ApeCoin (APE) traded 5.7% lower against the dollar and now trades at $21.18 or 0.00054955 BTC.
- EarnX (EARNX) traded up 396,248.3% against the dollar and now trades at $0.0008 or 0.00000002 BTC.
- stETH (Lido) (STETH) traded flat against the dollar and now trades at $3,479.19 or 0.06807369 BTC.
- Bitcoin BEP2 (BTCB) traded 1.2% lower against the dollar and now trades at $38,467.71 or 0.99826708 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 currently possible to buy alternative cryptocurrencies such as Tether directly using US dollars. Investors seeking to trade Tether should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, Gemini or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Tether using one of the aforementioned exchanges.
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