Price Analysis of Tether (USDT) as on 8th May 2019

Tether (USDT) is an altcoin which is aimed to keep a check on its value and try to mirror the value of the U.S. dollar. It was done in order to create a reliable and stable cryptocurrency which can be used just like a digital dollar. Additionally, a unique name was assigned to such altcoins and were termed as “stable coins.” According to the website of Tether (USDT), it is used to convert the cash into digital currency, which ultimately will help in tethering the value of the coin around the price of any state’s currency like the US dollar, the Euro, or the Yen.

Current Statistics:

Tether

At UTC 10:04, today on May 08, Tether (USDT) was trading at 0.994980 USD. At the same time, it’s market capitalization was around 2,762,656,977 USD. On top of that, the Tether’s last 24-hrs trading volume was approximately 13,986,593,509 USD. Ranked at 8th position in the cryptocurrency ranking chart, Tether’s Return on Investment (ROI) rate is 0.5%, but in negative. Against Bitcoin, which is a standard procedure of evaluating the action in ant crypto, it was valued at 0.00016954 BTC per chip. On April 12, Tether (USDT) was trading at 1.01 USD, since then it saw a small amount of dip and today after 25-days, it is trading with a loss of almost 1.5%.

Let’s have a look at historical fluctuations in the price of Tether (USDT):

Time PeriodHighLow
All-Time1.21 USD
(May 27, 2017)
0.849809 USD
(Feb 02, 2017)
Yesterday1.01 USD0.994040 USD
7-days1.01 USD0.993184 USD
30-days1.02 USD0.974206 USD

Just like any other trading day for a stable coin, yesterday too was a flat one. While Tether (USDT) started the day opened at 0.999558 USD and closed the day at 0.998015 USD, with an intraday loss of 0.001543 USD (-0.15%) and a cumulative trading volume of 16,055,442,570 USD.

Tether (USDT) Price Prediction:

Unlike other cryptocurrencies, the Tether remains stable and doesn’t flow in accordance with the market sentiments. However, it is a curse for the altcoin as well. When it comes to Tether, it is…

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