Tether (CURRENCY:USDT) traded up 0% against the U.S. dollar during the one day period ending at 22:00 PM E.T. on September 25th. One Tether coin can now be bought for $1.00 or 0.00002364 BTC on popular cryptocurrency exchanges. Over the last seven days, Tether has traded 0% higher against the U.S. dollar. Tether has a market capitalization of $68.61 billion and $65.52 billion worth of Tether was traded on exchanges in the last 24 hours.
Here’s how related cryptocurrencies have performed over the last 24 hours:
- XRP (XRP) traded 1.6% lower against the dollar and now trades at $0.93 or 0.00002194 BTC.
- Polkadot (DOT) traded down 7.9% against the dollar and now trades at $28.90 or 0.00068248 BTC.
- Internet Computer (ICP) traded 3.8% lower against the dollar and now trades at $44.17 or 0.00104321 BTC.
- Filecoin (FIL) traded 9% lower against the dollar and now trades at $57.16 or 0.00134989 BTC.
- Bitcoin BEP2 (BTCB) traded up 0.3% against the dollar and now trades at $42,316.44 or 0.99933245 BTC.
- eCash (XEC) traded down 1.3% against the dollar and now trades at $0.0002 or 0.00000000 BTC.
- stETH (Lido) (STETH) traded 0.9% lower against the dollar and now trades at $2,849.88 or 0.06730186 BTC.
- SHIBA INU (SHIB) traded 2.4% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
- Kusama (KSM) traded 4.1% lower against the dollar and now trades at $319.43 or 0.00754357 BTC.
- Klaytn (KLAY) traded 1.2% lower against the dollar and now trades at $1.07 or 0.00002535 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). “
Tether Coin Trading
It is usually not currently possible to purchase alternative cryptocurrencies such as Tether directly using U.S. dollars. Investors seeking to acquire Tether should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, GDAX or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Tether using one of the exchanges listed above.
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