Dollar-backed stablecoin Tether is the only top 10 cryptocurrency whose market cap didn’t dwindle as a result of a massive sell-off that was triggered by Bitcoin’s 15 percent drop.
According to CoinStats data, USDT is holding strong at $1.00. Moreover, the controversial stablecoin is now the fourth biggest cryptocurrency by market capitalization (only behind Bitcoin, Ethereum, and Ripple’s XRP).
Bitcoin Cash (BCH) and Litecoin (LTC) are down 17 percent and 13 percent respectively. They are unlikely to win back their respective placements as crypto trader Josh Rager predicts that altcoins will see new yearly lows.