Tether Price Analysis: How Is Tether Performing After Recent Turmoil?
It is not a secret that Tether is one of the most popular virtual currencies in trading pair. Especially with the cryptocurrencies that cannot be bought directly with Fiat, USDT is a well-preferred option for the most.
Tether is the digital currency that is ideally expected to be equivalent to the US dollar. In fact, the coin is always supposed to be equal to the US dollar. i. e. 1 USDT = 1 USD.
In reality, though, the stable coin is not that stable. It keeps fluctuating every now and then. In last one year, Tether price varied between 0.9252 USD – 1.05 USD.
The market capitalization and circulating supply also were steadily decreasing in the past few months, and now it rose up recently.
USDT Current Statistics:
Right now, on June 18, 2019, UTC 08:24:41, Tether is trading at 1.01 USD. The price went up by 0.21%, and in the last 24 hours, the price was raised by 0.20% compared to yesterday. Today’s market capitalization is 3,543,093,229 USD with the circulating supply of 3,522,480,655 USDT. Trading volume for last 24 hours is 16,260,830,859 USD with 0.59% of Return on Investment.
Coin in Bull Run with positive effect, hence analysts are suggesting to buy.
Tether Price Prediction:
A year ago, on June 18, 2018, Tether was trading at $1.00 with Market Cap of 2,608,287,487 USD. It’s has 98.64% change to current Market cap of 3,543,093,229 USD. Also, 24-hour volume of 1,656,660,000 USD has changed by 90.18% to 16,260,830,859 USD in one year’s time. In the last 52 weeks, Tether coin was trading as high as 1.05 USD whereas it went lowest to 0.925284 USD.
Currently, the total supply of the USDT token in the market is 3,720,057,493 USDT. This liquidity is enough to maintain stability in the market.
Given the fact that team Tether has been failing to produce the evidence for transparency and therefore, its investors are finding it hard to keep the faith, buying this currency can be risky. In spite of this, current technical analysis and forecast are in favor of this stable coin. The turmoil from the last two months seems to be settling down, but it’s not completely resolved yet. Hence be careful while making an investment decision.
Conclusion:
Analysts are hoping for good positive returns from the USDT, despite all the news. It still hopes for around 1% growth in the long run. So, use it to balance your current portfolio.
