Tether Price Hits $1.00 on Major Exchanges (USDT)

Tether (USDT) traded 0% higher against the US dollar during the one day period ending at 20:00 PM Eastern on May 22nd. Tether has a total market capitalization of $73.21 billion and approximately $40.91 billion worth of Tether was traded on exchanges in the last 24 hours. One Tether coin can now be purchased for $1.00 or 0.00003293 BTC on popular cryptocurrency exchanges. During the last week, Tether has traded up 0% against the US dollar.

Here is how other cryptocurrencies have performed during the last 24 hours:

  • Bitsubishi (BITSU) traded 23.4% lower against the dollar and now trades at $2,803.05 or 0.09238974 BTC.
  • JUMPN (JST) traded 517.8% higher against the dollar and now trades at $2.21 or 0.00007280 BTC.
  • XRP (XRP) traded up 1.9% against the dollar and now trades at $0.42 or 0.00001393 BTC.
  • Wrapped Cardano (WADA) traded 2.1% higher against the dollar and now trades at $0.54 or 0.00001776 BTC.
  • Enegra (EGX) (EGX) traded down 0.1% against the dollar and now trades at $147.16 or 0.00485059 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 2% higher against the dollar and now trades at $10.19 or 0.00033574 BTC.
  • Wrapped TRON (WTRX) traded up 5.3% against the dollar and now trades at $0.0780 or 0.00000257 BTC.
  • Gateway Protocol (GWP) traded 0.4% lower against the dollar and now trades at $2.58 or 0.00008489 BTC.
  • Lido Staked ETH (stETH) traded up 3.6% against the dollar and now trades at $1,994.39 or 0.06573586 BTC.

Tether Profile

Tether’s genesis date was October 6th, 2014. Tether’s total supply is 79,713,622,662 coins and its circulating supply is 73,275,094,986 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). “

Buying and Selling Tether

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 GDAX, Coinbase or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Tether using one of the aforementioned exchanges.

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