Tether
TetherRank: # 3
Market Cap: $ 183,375,539,129
Volume (24hrs): $ 68,002,070,923
Circulating Supply: 183,363,017,257 USDT
Price in BTC: Ƀ 0.00001255
Change (1 Hr): 0.00%
Change (7 Days): 0.00%
Change (30 Days): 0.10%
All Time High: $ 1.32
All Time High Date: July 23, 2018
Tether Coverter:
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| Date | Open | Close | High | Low | Volume |
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| # | Source | Pair | Volume | Price | Change | Updated |
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- Virtu, Tradeweb complete onchain repo using Marshall Islands digital bondCointelegraph.com News - 8 hours agoThe transaction used the Marshall Islands-issued USDM1 bond as collateral and completed the full repo cycle on the Canton Network in under 10 minutes.Virtu Financial,…
- Here’s what happened in crypto todayCointelegraph.com News - 9 hours agoNeed to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, Web3 and…
- Trump cost investors $4.7B through crypto ‘schemes’: Public CitizenCointelegraph.com News - 9 hours agoWhile investors in World Liberty Financial‘s USD1 stablecoin “haven’t suffered major losses,” many lost billions of dollars in other Trump ventures, according to Public Citizen.The…
- Mirae Asset lays out crypto, stablecoin, tokenization plans for Digital XCointelegraph.com News - 10 hours agoThe South Korean financial group plans to build a $109 billion digital asset business spanning crypto, stablecoins and tokenized assets, according to The Korea Times.South…
- Grayscale says Zcash can challenge Bitcoin’s network effects as privacy demand growsCointelegraph.com News - 10 hours agoZEC has climbed roughly 19-fold in a year, yet Grayscale says its sub-1% share of Bitcoin’s market cap leaves room for further upside. Zcash could…
What is Tether?
Tether is a tocken issued by Tether Limited company which belongs to the Bitfinex trading platform. It was built on top of Omni Layer digital currency protocol, which works on the Bitcoin blockchain.
The main purpose of this token is to provide stability to traders and members of cryptocurrency market, because Tether is claimed to be backed by US dollars on Tether Ltd bank accounts, so its price is not as volatile as prices of other cryptocurrencies. However, that remains yet to be proven and is is the reason why the U.S. Commodity Futures Trading Commission issued subpoenas to both Tether and Bitfinex. Also Tether Ltd underlines that the Tether token is not a financial instrument, and the owners of Tethers have no rights for legal claims or guarantees against losses.
Nevertheless, tether is a very popular token and is used by a number of exchanges (mostly the crypto to crypto only ones) as their main stablecoin. The amount of Tethers grew up to $2.8 billion. During summer 2018 around 80% of Bitcoin volume was traded in Tethers.
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