Tether (USDT) Reaches One Day Trading Volume of $38.05 Billion – Transcript Daily

   2022-05-22 11:05

Tether (USDT) traded 0% lower against the U.S. dollar during the 1 day period ending at 7:00 AM E.T. on May 22nd. One Tether coin can now be purchased for $1.00 or 0.00003306 BTC on cryptocurrency exchanges. Tether has a market capitalization of $73.19 billion and approximately $38.05 billion worth of Tether was traded on exchanges in the last 24 hours. During the last seven days, Tether has traded 0% lower against the U.S. dollar.



Here’s how similar cryptocurrencies have performed during the last 24 hours:

  • Bitsubishi (BITSU) traded 58.6% higher against the dollar and now trades at $3,857.52 or 0.12769364 BTC.
  • JUMPN (JST) traded 400.7% higher against the dollar and now trades at $0.72 or 0.00002379 BTC.
  • XRP (XRP) traded up 2.2% against the dollar and now trades at $0.42 or 0.00001393 BTC.
  • Wrapped Cardano (WADA) traded up 2.9% against the dollar and now trades at $0.54 or 0.00001782 BTC.
  • Enegra (EGX) (EGX) traded 3.9% lower against the dollar and now trades at $143.44 or 0.00474810 BTC.
  • Lido stETH (STETH) traded 0.6% lower against the dollar and now trades at $2,947.45 or 0.07417648 BTC.
  • Polkadot (DOT) traded 4.4% higher against the dollar and now trades at $10.25 or 0.00033936 BTC.
  • Gateway Protocol (GWP) traded up 0.3% against the dollar and now trades at $2.60 or 0.00008615 BTC.
  • Wrapped TRON (WTRX) traded 5% higher against the dollar and now trades at $0.0753 or 0.00000249 BTC.
  • Lido Staked ETH (stETH) traded up 3% against the dollar and now trades at $1,973.70 or 0.06533423 BTC.

Tether Coin Profile

Tether’s launch date was October 6th, 2014. Tether’s total supply is 79,713,622,662 coins and its circulating supply is 73,275,094,986 coins. Tether’s official website is tether.to. Tether’s official Twitter account is @Tether_to and its Facebook page is accessible here.

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 currently possible to purchase alternative cryptocurrencies such as Tether directly using U.S. dollars. Investors seeking to acquire 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 exchanges listed above.



Receive News & Updates for Tether Daily – Enter your email address below to receive a concise daily summary of the latest news and updates for Tether and related cryptocurrencies with MarketBeat.com’s FREE CryptoBeat newsletter.


Original Source