Tether (USDT) Market Cap Tops $74.13 Billion

Tether (USDT) traded up 0% against the U.S. dollar during the 1-day period ending at 17:00 PM ET on May 19th. One Tether coin can currently be bought for approximately $1.00 or 0.00003299 BTC on major cryptocurrency exchanges. During the last seven days, Tether has traded up 0.2% against the U.S. dollar. Tether has a total market capitalization of $74.13 billion and approximately $59.81 billion worth of Tether was traded on exchanges in the last day.

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

  • JUMPN (JST) traded down 25.9% against the dollar and now trades at $64.64 or 0.00181864 BTC.
  • Bitsubishi (BITSU) traded up 66.1% against the dollar and now trades at $243.70 or 0.00804823 BTC.
  • XRP (XRP) traded up 0.9% against the dollar and now trades at $0.42 or 0.00001384 BTC.
  • Wrapped Cardano (WADA) traded 0.3% higher against the dollar and now trades at $0.53 or 0.00001751 BTC.
  • Enegra (EGX) (EGX) traded down 5.9% against the dollar and now trades at $135.03 or 0.00445942 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 1.4% against the dollar and now trades at $10.05 or 0.00033182 BTC.
  • PLC Ultima (PLCU) traded 4% lower against the dollar and now trades at $47,572.32 or 1.57105517 BTC.
  • Gateway Protocol (GWP) traded 0.8% higher against the dollar and now trades at $2.63 or 0.00008689 BTC.
  • Wrapped TRON (WTRX) traded 2.1% higher against the dollar and now trades at $0.0735 or 0.00000243 BTC.

About Tether

Tether launched on October 6th, 2014. Tether’s total supply is 79,713,622,671 coins and its circulating supply is 74,213,168,169 coins. Tether’s official Twitter account is @Tether_to and its Facebook page is accessible here. Tether’s official website 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). “

Tether Coin Trading

It is usually not possible to purchase alternative cryptocurrencies such as Tether directly using U.S. dollars. Investors seeking to trade Tether should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Tether using one of the aforementioned exchanges.

Receive News & Updates for Tether Daily - Enter your email address below to receive a concise daily summary of the latest news and updates for Tether and related cryptocurrencies with MarketBeat.com's FREE CryptoBeat newsletter.