Rank: # 3
Market Cap: $ 67,945,788,523
Volume (24hrs): $ 44,204,281,108
Circulating Supply: 67,956,206,763 USDT
Price in BTC: Ƀ 0.00005145
Change (1 Hr): 0.08%
Change (7 Days): -0.05%
Change (30 Days): -0.10%
All Time High: $ 1.32
All Time High Date: July 24, 2018
- Historical Data
- Kazakhstan ready to legalize crypto as Russians flock to the countryCointelegraph.com News - 55 minutes agoA major bank in Kazakhstan has completed its first purchase of crypto for fiat and the president is ready to approve exchange activities. Kazakhstan is…
- Ethereum Merge was 'executed flawlessly,' says Starkware co-founderCointelegraph.com News - 2 hours agoStarkware co-founder Eli Ben-Sasson told Cointelegraph that none of the things that people feared about the Merge happened, and everything happened as it should. As…
- Bitcoin price skirts $19.3K amid fear over ‘mother of all rug pulls’Cointelegraph.com News - 2 hours agoVolatility has yet to make an appearance on hourly timeframes as the clock ticks down to the September close. Bitcoin (BTC) traders lay in wait…
- APR vs. APY: What’s the difference?Cointelegraph.com News - 2 hours agoThe key difference between APY and APR is compound interest. Before investing, compare their potential returns. APR vs. APY: Which is better?The APY provides a…
- UAE Ministry of Economy opens up new headquarters in the MetaverseCointelegraph.com News - 4 hours agoThe UAE Ministry of Economy continues its push into the Metaverse with the announcement of a “third address” located in a virtual world. The United…
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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