Details about CNY Tether cryptocurrency
CNY Tether
cnyt
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CNY Tether price charts
cnyt exchanges
CNY Tether, the crypto
CNY Tether (CNYT) is a cryptocurrency that tracks the value of the Chinese Yuan (CNY) using blockchain technology. It is issued by Tether Limited, the same company that issues USDT, a cryptocurrency pegged to the US Dollar. CNYT is designed to maintain a stable value of 1:1 with the Chinese Yuan, enabling users to access the benefits of cryptocurrency without worrying about the volatility often associated with it.
The point
The main point of CNY Tether (CNYT) is to provide a stable and secure way for people to use cryptocurrency for transactions denominated in Chinese Yuan. It allows users to hold CNYT without worrying about the volatility that often affects cryptocurrencies. This stability makes it easier for businesses to accept cryptocurrency payments without worrying about sudden price fluctuations.
The problem
CNY Tether (CNYT) tries to solve the problem of cryptocurrency volatility, which can make it difficult to use for transactions and store of value. By pegging CNYT to the Chinese Yuan, it provides a stable cryptocurrency that can be used for everyday transactions without worrying about changes in value. It also offers the benefits of blockchain technology, such as fast transactions and secure data storage, making it a viable alternative to traditional payment methods.
Compare CNYT and BTC performance
| Timeframe | CNYT | BTC |
|---|---|---|
| 1h change | 0 % | -0.853486 % |
| 24h change | 0 % | -4.99137 % |
| 7 day change | 0 % | -12.912 % |
| 14 day change | 0 % | -5.29254 % |
| 30 day change | 0 % | -4.44648 % |
| 200 day change | 71.16 % | 123.665 % |
| Year change | 72.28 % | 111.959 % |