Tether (USDT) slips into the Top 5 crypto-currencies by market capital
Home News Tether (USDT) slips into the Top 5 crypto-currencies by market capital
Marcus Misiak –
Tether (USDT) had to fight in October 2018 with a sharp decline in capitalisation. Under the ongoing trend of the crypto-currency market Down the Stablecoin is now in the Top 5 crypto-currencies by market capitalisation, slipped, due in part to the dramatic decline of other Top currencies, such as Bitcoin Cash, and EOS.
The October 2018 not passed without a trace of Tether. As we reported, Tether, issued in October, no new Token. Instead, the Tether is Limited. within a few days, a total of seven Times, a total of 690 million Tether (USDT) sent back to your Treasury account, and thus taken out of circulation It is noteworthy that the majority of the outflows occurred either after or immediately prior to the loss of the USD-bond by USDT, as the USDT slipped the price up to USD 0.92. Overall, the Tether Limited has arrested in October, more than a quarter of the Tether from the circulation. The number of USDT has fallen from around 2.8 billion to 2,008 billion in October, even on 1.856.421.736 USDT.
After October, the Tether is not reduced so significantly. One could speculate as to why this is currently the case. A possible factor is the high cost of direct payments of Tether (in USD) could be compared to other stable coins. Paxos Standard, USD Coin, and Gemini’s Dollar all have a much friendlier payment terms and conditions as the Tether, which requires a Minimum of several thousand dollars.
The reason why Tether currencies now in the Top 5 Crypto by market capitalisation, has slipped, seems obvious: the weakness of The other Top crypto-currencies. 90 days ago Litecoin had a market capitalization of more than 3.4 billion dollars, currently there are only 1.46 billion dollars and 400 million dollars less than the Tether. EOS at the time amounted to about 4 billion dollars, but today at about 1.72 billion dollars.
The largest decline, however, must be reported Bitcoin Cash, which has suffered as a result of the Hard Fork and “Hash war” with Bitcoin SV extreme, and about 75% of his former splendour has been lost. Before 90 days of the BCH had a market capitalization of over 8 billion dollars, while today, only 1.97 billion dollars.
Will remain tethered to the Top Stablecoin?
Paxos Standard, USDC and also TrueUSD win in the last 30 days, rapidly increasing the value of PAX more than USDC, although USDC has a higher overall capitalization. Currently TrueUSD is ranked #23 with a market capital of 213 million, USD Coin on #26, with 194 million and Paxos on #29 with 172 million US dollars.
All in all, have to do the “new” stable coins so much. But if the Trend continues, if newer market participants and the Tether loses, is not the day, maybe far, when Tether is the outlier and one of the new Stablecoins of the king.