Tether Price Analysis: Recent $250 Million USDT printing and what’s next?
Tether (USDT), which is expected to have a value equal to the US dollar and expected to serve as one. Although one cannot ignore the fact that Bitcoin prices vary according to the USDT movement. Every time USDT has been brought into circulation, Bitcoin prices have increased.
With Bitcoin being the major force behind the crypto market, most of the people still believe Tether Coin is manipulating Bitcoin and apparently crypto market effectively. And this is why the major investigations are in the process against Tether Limited.
And amid this controversy, the company has brought another $250 million USDT in the market. Not sure about the Tether demand or they are the reason behind the recent price surge of Bitcoin, the transactions appear to be reasonable as the company issues its assets regularly.
This is the most successful stable coin in the market till date, in spite of all the controversies surrounding it.
Tether Price Current Statistics:
Today June 20, 2019, at UTC 10:01:57, Tether is trading at the price of USD 1.00. Price went up by 0.26% compared to yesterday’s price. Bitcoin price of USDT though has dropped to 0.00010869 BTC by 0.62%.
Circulating supply of 3,534,666,959 USDT brings us Market Cap of 3,547,845,540 USD. In the last 24 hours, the currency traded with the volume of 15,138,085,004 USD. Current Return on Investment is 0.37%. With a total supply of 3,720,057,493 USDT, Tether is ranked 9th in the market.
Yesterday, on June 19, 2019, Tether price closed on $1.00 after hitting USD 0.998373, the lowest value of the week. The market opened at USD 1.0058 and expected to fluctuate in the range of USD 1.0044 to USD 1.0058. Price variation may not be the big enough, yet it is enough to decide whether one wants to invest in this stable coin.
Tether to USD Price Prediction:
Many analysts are in favor of Tether right now. It is the most popular stable coin in the crypto market and is being traded at almost all the exchanges.
Based on current data, analysts are estimating further price increase. Some of them are even hoping in one year, price to go up by nearly two times from current Tether price. Hence, making it a good option for investment at the moment.
Conclusion:
Team Tether is yet to produce authentic proofs and audits of their accounts. Still, they seem very confident of winning the current battle against NYAG. Only time will tell the truth about allegations and disputes.
For now, it is wise to keep an eye out and hold the coin to balance the portfolio.
