Space tethered system has various attractive potential applications and now serves as promising lunar infrastructures hopefully. In this paper, statics and dynamics of a lunar anchored space tethered system in the restricted Earth-Moon three-body system will be studied to enable future potential applications. Nonlinear dynamics and potential applications of a space tether system extending from the lunar surface to the Earth’s side are investigated. The static equilibrium equations of the system with a distributed mass tether are established at the L1 side without considering small perturbations caused by eccentricity to analyze internal stress, detailed cross-sectional profiles, and counterweight mass. The elastic deformations are discretized using the assumed modes method, and the Lagrangian approach is used to derive the dynamical equations of the system with a viscoelastic tether considering the elastic elongation within the elliptical Earth-Moon restricted three-body system (EEMRTB). The oscillations of the tether as well as the distribution of stress and strain are addressed using numerical analysis considering both construction difficulty and power generation capacity, the ideal design parameter ranges are provided based on the nonlinear dynamic analysis. Additionally, a brief analysis of the accessible regions within the Earth-Moon system is also conducted. The validity, accuracy and advantage of the established dynamics are clarified.