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Price Analysis

Will Tether–Tron Partnership Give The Much-Needed Push To USDT?

Tether (USDT) is a digital currency built to replicate the value of the US dollar and be noted as a stable cryptocurrency in the market.

Current Statistics:

Tether Price Chart (10.04.2019 - 07.05.2019)

  • According to the CoinMarketCap, Tether is ranked at the 8th position tailing Binance Coin in the top 100 cryptocurrencies list
  • As on May 07,2019 at 06:14:01 UTC, the market cap of the coin is 2,774,013,840 USD
  • The price has been trading at 0.99 USD & 0.00017260 BTC
  • The 24 h volume of the coin is 14,484,136,934 USD
  • The ROI of the coin stands at -0.28%
  • The circulating supply has been 2,776,595,295 USDT and the total supply is almost 3,220,057,493 USDT

Comparison:

  • The downtrend of over -1.9% has been observed in the past 30 days
  • The market cap on April 10, 2019 at 06:04:01 UTC was 2,209,603,704 USD
  • The price of the coin was trading at 1.01 USD & 0.00019355 BTC
  • The 24 h volume was 14,225,693,713 USD
  • The coin recorded an all-time high of over 1.21 USD on May 27, 2017, and it is expected to cross this mark by the end of 2019.
  • The highest price peaked to over 1.02 USD in the last 30 days, and lowest dipped to almost 0.97 USD

About:

Tether is open source blockchain based digital cash on providing stable coin option to the users replicating major currencies in the world including Dollar and Euro. It is a peer-to-peer network enabling transactions in a faster and secure fashion. The system can be used to convert cash into digital currency.

Prediction:

Tether has always kept its books open and transparent for the end users. It has been listed on major exchanges across the world and is easily accessible for trading. The recent partnership with Tron will lead to increased adoption of the decentralized application in the mainstream. If the analysts have to be believed, the currency has been given full points on the underlying technology, vision and future roadmap to sustain the fluctuations of the crypto market. The company also announced its collaboration with the Deltec Bank which establishes its position as trustworthy crypto among the financial institutions. This is the best time to invest in the currency in bulk owing to its increasing number of followers and prediction of prices going up sooner. By the end of 2019, the coin can be expected to reach as high as 5 USD, and in the next 2 years, the price can be around 10 USD. By the end of 5 years, the price of the coin can reach up to 50 USD if it continues to make some significant moves to remain relevant.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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