Tether
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Date | Open | Close | High | Low | Volume |
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# | Source | Pair | Volume | Price | Change | Updated |
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- Price analysis 9/22: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATICCointelegraph.com News – 2 hours agoBitcoin and the major altcoins are down from their weekly highs, but the bulls are trying to form a higher bottom, indicating buying on dips.…
- Bybit will suspend services in UK following financial regulator’s ‘final warning’Cointelegraph.com News – 3 hours agoHeadquartered in Dubai, crypto exchange Bybit said it will suspend services to residents of the United Kingdom starting in October due to “regulatory changes.” Dubai-headquartered…
- Bitcoin fails to recoup post-Fed losses as $20K BTC price returns to radarCointelegraph.com News – 4 hours agoBitcoin is a bargain for some at current levels, but downside BTC price predictions remain firmly on the agenda. Bitcoin (BTC) circled lower after the…
- Crypto investment firm CoinShares opens hedge fund division for US investorsCointelegraph.com News – 6 hours agoCoinShares’ subsidiary and broker-dealer registered with FINRA will be conducting marketing activities for the new hedge fund division in the United States. Major European cryptocurrency…
- Stablecoin exodus: Why are investors fleeing crypto’s safe haven?Cointelegraph.com News – 6 hours agoStablecoins have seen a 17-month decline as investors move to traditional assets. What needs to happen for the exodus to stop? In a year filled…
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.