Tether (USDT) Market Capitalization Tops $120.28 Billion

Tether (USDT) traded up 0.1% against the dollar during the 1 day period ending at 18:00 PM ET on October 28th. One Tether token can currently be purchased for approximately $1.00 or 0.00001434 BTC on popular cryptocurrency exchanges. Over the last week, Tether has traded down 0% against the dollar. Tether has a market cap of $120.28 billion and $62.92 billion worth of Tether was traded on exchanges in the last day.

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

• Aidi Finance (BSC) (AIDI) traded down 2.2% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded down 2.2% 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 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• SolvBTC (SOLVBTC) traded 2.5% higher against the dollar and now trades at $69,481.15 or 0.99654379 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded up 2.1% against the dollar and now trades at $69,225.00 or 0.99286989 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

Tether Profile

Tether launched on October 6th, 2014. Tether’s total supply is 121,337,925,863 tokens and its circulating supply is 120,339,320,856 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 acquire Tether should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Coinbase or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Tether using one of the aforementioned exchanges.

USDT/USD price chart by TradingView