Tether (CURRENCY:USDT) traded 0% higher against the US dollar during the 1-day period ending at 9:00 AM ET on February 12th. One Tether token can now be bought for approximately $1.00 or 0.00011530 BTC on major cryptocurrency exchanges including Kraken, Tidex, ZB.COM and HitBTC. Tether has a market cap of $2.22 billion and approximately $2.16 billion worth of Tether was traded on exchanges in the last day. Over the last seven days, Tether has traded up 0.1% against the US dollar.
Here is how similar cryptocurrencies have performed over the last day:
- Ripple (XRP) traded up 1.8% against the dollar and now trades at $1.07 or 0.00012336 BTC.
- NEO (NEO) traded up 5.4% against the dollar and now trades at $113.11 or 0.01300940 BTC.
- Stellar (XLM) traded 2.7% higher against the dollar and now trades at $0.39 or 0.00004537 BTC.
- IOTA (MIOTA) traded 4% higher against the dollar and now trades at $1.84 or 0.00021209 BTC.
- TRON (TRX) traded up 3.5% against the dollar and now trades at $0.0459 or 0.00000528 BTC.
- VeChain (VEN) traded 5.8% higher against the dollar and now trades at $4.32 or 0.00049660 BTC.
- U.CASH (UCASH) traded up 482.5% against the dollar and now trades at $0.18 or 0.00002050 BTC.
- Populous (PPT) traded 22.2% higher against the dollar and now trades at $29.30 or 0.00336998 BTC.
- Binance Coin (BNB) traded up 2.3% against the dollar and now trades at $9.28 or 0.00106740 BTC.
- Status (SNT) traded down 0.8% against the dollar and now trades at $0.22 or 0.00002552 BTC.
Tether Token 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 a U.S Dollar held in the reserves of the Tether Limited and can be redeemed 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. 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. “
Buying and Selling Tether
Tether can be purchased on these cryptocurrency exchanges: Coinbene, Bittrex, Tidex, Bibox, Liqui, ZB.COM, Huobi, Cryptopia, HitBTC, Bitfinex, Gate.io, Binance, Kraken, Poloniex, EXX, OKEx, Kucoin, Exmo, Coinut and Upbit. It is not currently possible to purchase Tether directly using U.S. dollars. Investors seeking to trade Tether must 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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