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Date | Open | Close | High | Low | Volume |
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# | Source | Pair | Volume | Price | Change | Updated |
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- Changpeng Zhao gets 4 months, Sam Bankman-Fried gets 25 years — Why?Cointelegraph.com News – 6 hours agoOne former CEO went to trial and maintained his innocence, one admitted fault and turned himself in. Two figures once considered to be Titans in…
- Price analysis 5/1: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIBCointelegraph.com News – 6 hours agoBitcoin’s drop to $56,500 crushed bullish traders’ sentiment and took a heavy toll on altcoin prices but are generational buying opportunities emerging? Bitcoin (BTC) sliced…
- Meme coins: Betrayal of crypto’s ideals… or its true purpose?Cointelegraph.com News – 8 hours agoMeme coin fans think “serious” crypto investors are mid-curving it. Serious crypto investors think meme coin fans are idiots. When Satoshi Nakamoto invented Bitcoin (BTC),…
- Bitcoin down 20%+ from all-time highs — Is BTC price headed to $50K?Cointelegraph.com News – 8 hours agoWhile the current correction remains in line with historical price corrections, Bitcoin could briefly fall to the $50,000 mark after losing the average ETF inflow…
- Dutch exchange Bitvavo taps Figment to expand staking servicesCointelegraph.com News – 8 hours agoInstitutional staking platform Figment will become an additional infrastructure provider to Dutch exchange Bitvavo. Update (May 1 at 3:00 pm UTC): This article has been…
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.