Tether Price Tops $1.00 on Exchanges (USDT)

Tether (USDT) traded 0% higher against the dollar during the twenty-four hour period ending at 10:00 AM Eastern on February 6th. Tether has a total market cap of $141.21 billion and approximately $96.09 billion worth of Tether was traded on exchanges in the last day. Over the last seven days, Tether has traded 0% higher against the dollar. One Tether token can now be bought for approximately $1.00 or 0.00001023 BTC on cryptocurrency exchanges.

Here’s how similar cryptocurrencies have performed over the last day:

• GMX (GMX) traded 1.2% lower against the dollar and now trades at $16.74 or 0.00017123 BTC.
• Aidi Finance (BSC) (AIDI) traded 2.2% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded 2.2% lower against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded 2.2% lower against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Hokkaidu Inu (HOKK) traded 1.2% higher against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• SolvBTC (SOLVBTC) traded down 0.2% against the dollar and now trades at $97,789.57 or 1.00003066 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded down 0.1% against the dollar and now trades at $97,512.15 or 0.99719363 BTC.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.

Tether Profile

Tether launched on October 6th, 2014. Tether’s total supply is 143,570,570,333 tokens and its circulating supply is 141,166,869,195 tokens. The official website for Tether is tether.to. Tether’s official Twitter account is @tether_to and its Facebook page is accessible here.

According to CryptoCompare, “Tether (USDT) is a stablecoin, a digital currency that is pegged to the value of US dollar. It is issued by a centralized company called Tether and is used to minimize volatility in an investor’s portfolio. It is also widely accepted as a payment method and is supported on multiple blockchains. USDT is often used in conjunction with cryptocurrency debit cards and is popular in the decentralized finance (DeFi) space for lending and borrowing. It is the third-largest cryptocurrency by market capitalization and is backed by reserves in cash and cash equivalents, allowing token holders to redeem their USDT for USD. Tether has also issued other stablecoins pegged to the value of other fiat currencies and commodities, such as the Chinese Yuan, the Euro, and gold.”

Buying and Selling Tether

It is usually not currently possible to buy alternative cryptocurrencies such as Tether directly using US dollars. Investors seeking to trade Tether should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Tether using one of the aforementioned exchanges.

USDT/USD price chart by TradingView