New Website for Tether (USDT) Sends Trade Volume Soaring
Timothy St. John • 2 min read
The stablecoin Tether (USDT) is enjoying a trade volume increase following the launch of its new streamlined website.
How Tether Is Performing Now
Tether is down .03% today, bringing it to $1.00 (USDT/USD). Tether’s rate stays very close to that of the US Dollar, at a nearly 1:1 ration. Its movement is based on trade volume primarily.
That trade volume has shot through the roof today, up 125.11%, which means that nearly $74 billion USD has moved over the last 24 hours. That is a significant increase, where Tether may usually see changes of 20-30% on a day with decent activity. Today’s spike in trade volume is most likely attributable to the newly launched website and the excitement that has built up around the stablecoin.
Tether is seeing a trade volume increase even as the rest of the market is dropping today. Bitcoin experienced a significant downturn. It has fallen 10.56% to bring it down to $38,715. However, its trade volume is up by more than 115% today, meaning there are likely a lot of investors selling their Bitcoin tokens now.
Tether usually doesn’t see much of a price change, which is by design. As a stablecoin, it can weather powerful economic and financial storms. Tether’s biggest challenges come from scandals and government inquiries, like what it went through last year. Tether has come out on top, however, holding onto its high ranking within the cryptocurrency market and demonstrating a powerful resiliency.
What the New Website Does for Investors
The token’s newly redesigned website is made with mobile compatibility in mind. The site has a new look for both mobile and desktop devices. The improved design makes the site easier to use and streamlines the site navigation.
The biggest stablecoin in the world should benefit from a slicker site with faster, sleeker functionality. The optimization features built into the site make sure that it opens pages faster and provides information quickly. Transactions are meant to be very secure and to offer investors peace of mind to investors.
Tether was the first stablecoin brought to market, and it is working hard to stay at the forefront of customer accessibility and technological innovation.