Tether (USDT) traded 0% higher against the U.S. dollar during the 1 day period ending at 16:00 PM ET on July 4th. In the last week, Tether has traded 0% higher against the U.S. dollar. One Tether coin can currently be purchased for approximately $1.00 or 0.00005050 BTC on popular cryptocurrency exchanges. Tether has a total market cap of $66.03 billion and approximately $35.46 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:
- JUMPN (JST) traded down 54% against the dollar and now trades at $5.46 or 0.00018651 BTC.
- CV SHOTS (CVSHOT) traded down 8.8% against the dollar and now trades at $29.15 or 0.00147341 BTC.
- Bitsubishi (BITSU) traded 24.6% higher against the dollar and now trades at $169.89 or 0.00858659 BTC.
- Sweet SOL (SSOL) traded up 600.9% against the dollar and now trades at $0.0001 or 0.00000000 BTC.
- Tari World (TARI) traded 4.3% higher against the dollar and now trades at $16.96 or 0.00085716 BTC.
- XRP (XRP) traded up 0.9% against the dollar and now trades at $0.32 or 0.00001638 BTC.
- Wrapped Cardano (WADA) traded 2.5% higher against the dollar and now trades at $0.46 or 0.00002337 BTC.
- Lido stETH (STETH) traded 0.6% lower against the dollar and now trades at $2,947.45 or 0.07417648 BTC.
- Gateway Protocol (GWP) traded down 1.2% against the dollar and now trades at $3.10 or 0.00015668 BTC.
- Polkadot (DOT) traded 2.4% higher against the dollar and now trades at $7.00 or 0.00035358 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 Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Tether using one of the aforementioned exchanges.
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