Tether (USDT) Price Reaches $1.00

Tether (USDT) traded down 0% against the US dollar during the twenty-four hour period ending at 8:00 AM E.T. on May 28th. Tether has a market cap of $72.47 billion and approximately $53.46 billion worth of Tether was traded on exchanges in the last day. In the last seven days, Tether has traded 0% higher against the US dollar. One Tether coin can now be purchased for $1.00 or 0.00003457 BTC on major exchanges.

Here is how similar cryptocurrencies have performed in the last day:

  • JUMPN (JST) traded down 54% against the dollar and now trades at $5.46 or 0.00018651 BTC.
  • Bitsubishi (BITSU) traded 97% lower against the dollar and now trades at $1,684.09 or 0.05828071 BTC.
  • XRP (XRP) traded down 2.2% against the dollar and now trades at $0.38 or 0.00001331 BTC.
  • Wrapped Cardano (WADA) traded down 0.2% against the dollar and now trades at $0.46 or 0.00001596 BTC.
  • Enegra (EGX) (EGX) traded 0.3% lower against the dollar and now trades at $146.91 or 0.00508401 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 down 3.3% against the dollar and now trades at $9.41 or 0.00032582 BTC.
  • Wrapped TRON (WTRX) traded 1.1% lower against the dollar and now trades at $0.0817 or 0.00000283 BTC.
  • Gateway Protocol (GWP) traded 0.9% higher against the dollar and now trades at $2.56 or 0.00008861 BTC.
  • PLC Ultima (PLCU) traded 2.2% lower against the dollar and now trades at $37,988.86 or 1.31466611 BTC.

Tether Profile

Tether was first traded on October 6th, 2014. Tether’s total supply is 79,713,622,662 coins and its circulating supply is 72,537,249,554 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 presently possible to purchase alternative cryptocurrencies such as Tether directly using U.S. dollars. Investors seeking to trade Tether should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Tether using one of the aforementioned exchanges.

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