Tether (CURRENCY:USDT) traded 0.1% lower against the U.S. dollar during the 24 hour period ending at 8:00 AM E.T. on February 9th. One Tether token can now be purchased for approximately $1.02 or 0.00012355 BTC on popular cryptocurrency exchanges including Coinut, Bittrex, Tidex and Huobi. Tether has a total market capitalization of $2.27 billion and approximately $2.45 billion worth of Tether was traded on exchanges in the last day. In the last seven days, Tether has traded 3.8% higher against the U.S. dollar.
Here’s how related cryptocurrencies have performed in the last day:
- Ripple (XRP) traded up 9.5% against the dollar and now trades at $0.85 or 0.00010256 BTC.
- NEO (NEO) traded 0.6% higher against the dollar and now trades at $113.43 or 0.01368260 BTC.
- Stellar (XLM) traded 2% higher against the dollar and now trades at $0.37 or 0.00004476 BTC.
- IOTA (MIOTA) traded 0.1% higher against the dollar and now trades at $1.83 or 0.00022063 BTC.
- TRON (TRX) traded up 10.9% against the dollar and now trades at $0.0413 or 0.00000499 BTC.
- VeChain (VEN) traded 1.5% lower against the dollar and now trades at $4.31 or 0.00051954 BTC.
- Populous (PPT) traded 11.3% lower against the dollar and now trades at $32.19 or 0.00388297 BTC.
- Binance Coin (BNB) traded 0.7% lower against the dollar and now trades at $8.58 or 0.00103555 BTC.
- Status (SNT) traded 1.3% higher against the dollar and now trades at $0.22 or 0.00002645 BTC.
- Maker (MKR) traded up 1.2% against the dollar and now trades at $1,039.32 or 0.12537100 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. “
Tether Token Trading
Tether can be purchased on the following cryptocurrency exchanges: Coinut, OKEx, Kucoin, Upbit, Gate.io, Kraken, Huobi, ZB.COM, Bitfinex, EXX, Exmo, Cryptopia, Liqui, HitBTC, Poloniex, Bibox, Binance, Tidex, Coinbene and Bittrex. It is not presently possible to purchase Tether directly using U.S. dollars. Investors seeking to acquire 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 exchanges listed above.
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