Euro Tether Price Chart Update [EURT]

The EURT price update as of now is $1.06. In the previous 24 hours, its trading volume was $1,948,705, and its value has increased by 0.08%. As of now, EURT's live market cap is $42,582,319, and it is ranked as the #502 on the Coincu. EURT has a circulating supply of 400,000,050 and a maximum supply of 400,000,050.

Introducing Euro Tether (EURT)

Euro Tether (EURT) is a stablecoin managed by Bitfinex and issued by Tether. Its primary objective is to replicate the value of the Euro. The value of Euro Tether is maintained by holding a reserve of USD equivalent to the circulating supply of EURT coins. EURT is not only available on the Bitcoin blockchain but can also be found on the Ethereum blockchain and other blockchains as well.

Establishment of Euro Tether

Euro Tether is established as a stablecoin pegged to the Euro and operated by the Bitfinex cryptocurrency exchange. Tether Holdings, the platform governing Euro Tether, facilitates the import and export of various government-backed cryptocurrencies, acting as a conduit between the traditional financial world and the emerging cryptocurrency ecosystem.

Cointelegraph's financial assessment reveals that as of June 30, 2021, Tether Holdings' reserves amount to approximately $62,773,190,075, with total liabilities of $62,628,932,116. Stablecoin USDT accounts for about $62,610,829,196.

Understanding Tether

Tether (USDT) stands as the most popular cryptocurrency currently, designed to maintain a 1-to-1 conversion value with the USD. It exists on various blockchains and has witnessed significant growth in transaction volume and liquidity over recent years.

Like other stablecoins, USDT plays a crucial role in cryptocurrency trading, enabling users to trade cryptocurrencies while mitigating market price fluctuations. Moreover, stablecoins remove the need for expensive and time-consuming conversions between crypto and fiat currencies.

The initial launch of Tether occurred in 2014 under the name Realcoin, courtesy of Bitcoin investor Brock Pierce, businessman Reeve Collins, and software developer Craig Sellers.

Key Features of Tether

Initially built on top of the Bitcoin protocol using the Omni Layer, Tether has expanded to other blockchains over time. Throughout its existence, Tether has encountered both significant achievements and controversies, which are commonplace in the crypto industry.

During its early stages, USDT experienced price fluctuations, reaching a high of $1.2 at one point. However, since the beginning of 2019, USDT has maintained stability and reduced volatility, primarily due to the growing trading volume of USDT and overall improvements in the cryptocurrency market.