Tether (CURRENCY:USDT) traded 0% lower against the US dollar during the 24-hour period ending at 15:00 PM ET on July 22nd. Tether has a total market cap of $61.90 billion and $47.39 billion worth of Tether was traded on exchanges in the last day. One Tether coin can now be purchased for $1.00 or 0.00003098 BTC on major exchanges. During the last week, Tether has traded up 0% against the US dollar.
Here’s how similar cryptocurrencies have performed during the last day:
- XRP (XRP) traded up 5.4% against the dollar and now trades at $0.60 or 0.00001846 BTC.
- Polkadot (DOT) traded up 7.8% against the dollar and now trades at $13.15 or 0.00040721 BTC.
- Internet Computer (ICP) traded up 6.4% against the dollar and now trades at $34.37 or 0.00106467 BTC.
- Filecoin (FIL) traded 0.6% higher against the dollar and now trades at $45.86 or 0.00142067 BTC.
- KnoxFS (old) (KFX) traded up 4.3% against the dollar and now trades at $19.25 or 0.00049793 BTC.
- SHIBA INU (SHIB) traded up 1.7% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
- Klaytn (KLAY) traded 1.9% higher against the dollar and now trades at $0.96 or 0.00002959 BTC.
- Bitcoin BEP2 (BTCB) traded 1.3% higher against the dollar and now trades at $32,378.48 or 1.00294038 BTC.
- Fei Protocol (FEI) traded 0.1% lower against the dollar and now trades at $1.00 or 0.00003098 BTC.
- Counos X (CCXX) traded 1.3% higher against the dollar and now trades at $102.60 or 0.00317821 BTC.
Tether Coin Profile
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 buy alternative cryptocurrencies such as Tether directly using US dollars. Investors seeking to acquire Tether should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, Coinbase or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Tether using one of the exchanges listed above.
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