Tether (USDT) Becomes Fourth Biggest Cryptocurrency, Trumping Bitcoin Cash (BCH) and Litecoin (LTC)

Libra Coin News
Wed, 09/25/2019 - 19:03
Alex Dovbnya
Dollar-pegged stablecoin Tether now occupies fourth place by market capitalization, thus leaving behind Bitcoin Cash (BCH) and Litecoin (LTC)
Cover image via U.Today

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).

Image by coinstats.app

Related
Tether to Roll Out Yuan-Backed Stablecoin That Will Probably Enrage Chinese Regulators

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.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.