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Tether EURt (EURT)EURT
$0.995478
0.26%
Tether EURt (EURT)
EURT Price
$0.995478
0.26%
Rank
#289
Market Cap (24H)
$56.63M
0.26%
Volume (24H)
$1.41M
-5.02%
Circulating Supply
56,887,340
Transp. Vol.
Grade
1H1D1W1M1Y
+0.26%
Tether EURt logo
EURT
United States Dollar logo
USD
ETH0xc581b...2ede491
ETH
Verify address & DYOR
Contract
ETH0xc581b...2ede491
ETH
Verify address w/ multiple resources & DYOR
Blockchain
Categories
Websitehttps://tether.to/
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EURt is a fiat-backed stablecoin that is pegged to the price of EURO. The company standing behind the asset is Hong Kon...Read more

Tether EURt Price (EURT)

EURT Daily Performance

Today's Tether EURt price is $0.995478, which is up <1% over the last 24 hours. Tether EURt's market cap is $56.63M. 24 hour EURT volume is $1.41M. It has a market cap rank of 289 with a circulating supply of 56,887,340. Tether EURt is traded on exchanges. Tether EURt had an all-time high of $1.2388 about 1 year ago. Over the last day, Tether EURt has had 0% transparent volume and has been trading on 101 active markets with its highest volume trading pairs being .

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Tether EURt Statistics

Tether EURt Price (24hr)$0.995478 (+0.26%)
Market Cap$56.63M (+0.26%)
Trading Volume (24hr)$1.41M (-5.02%)
Transparent Vol. (24hr)
Unknown
Transparency GradeUnknown
Circulating Supply56,887,340
All-Time High
$1.2388-19.64%
7D Price Prediction
N/A

Price

$0.995478
Price Change
$0.002544 (0.26%)

All-Time High

$1.2388
Date of ATH
Days Since ATH
% of ATH80.36%
Price vs ATH

Market Cap

$56.63M
Mkt Cap Change
$144,735$144,735 (0.26%)
Mkt Cap Rank289
Mkt Dominance
Mkt Dominance

Circulating Supply

56,887,340
Max Supply–
% in Circulation—

About Tether EURt

EURt is a fiat-backed stablecoin that is pegged to the price of EURO. The company standing behind the asset is Hong Kong-based Tether Holdings Limited established by Bitcoin enthusiasts in 2014. Initially, the company was known under the brand name Realcoin but later it rebranded as Tether to avoid altcoin association since the company didn’t present a separate blockchain. It was merely a service that offered tokens pegged to the price of USD thus tying digital assets to real-world assets. The project was initiated to make the use of digital currencies easier. It was also a response to customers’ demand for a stable and reliable asset that can be used for international transactions.

Easy conversion into fiat denominated value is the main benefit of the Tether system that makes the cryptocurrency attractive. The compatibility of Tether stablecoins with ERC20 standard expands the functionality of the asset further thanks to the possibility of its use on decentralized exchanges.

Tether platform

The Tether platform tries to prove the transparency of its system by publishing a record of total reserves and assets on a daily basis. For that, there is a special transparency page on the official website of the platform. However, Tether transparency is doubted since one company owns, mints, and manages the Tether supply which is one of the key reasons for the critical attitude of the cryptocurrency community.

Tether released USDT, which has become the third most widely held cryptocurrency by value in the world after Bitcoin and Ethereum. It makes the asset unique, as it has managed to reach the top position in a market built largely on speculation. The success is explained by the fact that this asset was a pioneer in its niche and became a breakthrough instrument that formed the shape of the cryptocurrency industry. The advent of the asset has also become a blow for a traditional financial system resulting in significant influence on the financial world.

Tether doesn’t belong to the list of decentralized companies as many other cryptocurrencies, but it supports the development of decentralization in the sphere of finances. The team of the platform stands for accessibility of cryptocurrencies around the globe. Tether stablecoin gives users control over their assets so that they can stand against the denomination of cryptocurrencies’ value in times of downtrend.

A stable coin representing one unit of fiat currency removes the necessity to develop sophisticated oracles and APIs for the interaction of the contract with the world of fiat money. At the same time, the asset is a part of the Ethereum network, consequently, it enables the introduction of complex software logic into a smart contract to develop standalone blockchain-based software dealing with fiat currencies securely.

The audit of smart contracts developed by the in-house team was conducted by Zeppelin Solutions before the release of digital coins. The auditor didn’t find any critical errors or vulnerabilities.

EURt cryptocurrency

With the introduction of EURt, users received a digital asset that represents the currency EURO in the cryptocurrency world. It helps to avoid the problem of volatility during conversion. Similar to USDT, EURt is based on the Ethereum standard ERC20.

The existence of EURt on blockchain makes it a helpful instrument for converting digital assets into the asset that is benchmarked against fiat Euro without leaving the cryptocurrency market. It means that it isn’t necessary to exit into a bank and open a fiat bank account in any jurisdiction for that. Without this tool, transferring assets to fiat would cause huge friction, complications, and pressure for cryptocurrency holders. With EURt, there is no necessity for that, so this instrument contributes to the overall growth and development of the cryptocurrency industry.

In January 2018, tokenized euro was listed on Bitfinex, a cryptocurrency exchange that was also founded by Tether Holdings Limited. In addition, Ethfinex became one of the first platforms where users could input and output EURt.

In May 2022, the company stated that it decreased its commercial paper holdings by 50% and rolled the funds into the US treasuries. The company plans to continue the gradual reduction of commercial paper holdings further.

Tether stablecoins controversy

Being one of the most liquid stablecoins in the market, Tether assets are reportedly backed by a solid, conservative portfolio including fiat assets and fiat equivalents, for instance, money market funds, short-term treasury bills, and commercial paper holdings from highly-rated issuers (A-2 and above).

Though the founders asserted initially that the Tether’s reserves should have been fully backed at a ratio of 1:1, there was much controversy on the subject that still persists. Some experts are skeptical about the actual amount of reserves backing digital assets, stating that the asset was created for the artificial inflation of the Bitcoin value to manipulate the cryptocurrency market. It was even the subject of an investigation by the New York attorney general’s office in 2019 that revealed that the Tether asset is only backed by 74% despite the company’s claim about real fiat money in the bank for every stablecoin put in circulation. The company refused to fully audit itself but continued to issue new coins, therefore, critics started questioning even this number.

Eventually, Tether issued a report in May 2021, saying that 2.9% of Tether is backed by cash, while 49.6% of Tether is backed by commercial paper. As a result, the company paid an 18.5 million USD fine, but didn’t admit any wrongdoing. In this connection, it is also worth noting that according to the Terms of Service published on the official website of the platform, Tether Limited has no legal obligation to redeem tokens for dollars and euros.

Tether team

The members of the senior management team have huge expertise in technology and finances. The staff of the company is spread globally. Paolo Ardoino, Tether CTO, was previously Bitfinex CTO and senior software developer. He is a Bachelor of Computer Science and a graduate of the University of Genoa, one of the largest universities in Italy.

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Tether EURt Markets

(Top 10)
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Tether EURt Historical Data

(Past 7 Days)
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Frequently Asked Questions

  • What’s the current Tether EURt price? How much is 1 Tether EURt worth?

    The price of 1 Tether EURt is $0.995478. Over the last 24 hours, a Tether EURt is worth 0.26% more. Visit our currency converter page to convert EURT prices to currencies other than USD.
  • When did Tether EURt start?

    The earliest trading data for Tether EURt is on November of 2015 (based on current exchange data).
  • How high can the Tether EURt price go?

    Tether EURt’s price has gone as high as $1.2388 (which is EURT’s all-time high). It achieved this price about 1 year ago. Speculations abound for how high Tether EURt’s price will get in the future.
  • What's the smart contract address for Tether EURt?

    Tether EURt's smart contract address is 0xc581b735a1688071a1746c968e0798d642ede491.

Today's EURT / Tether EURt News for November 29, 2022

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