Dollar-pegged stablecoin Tether is now the worlds 4th biggest cryptocurrency – The Next Web

Posted: October 2, 2019 at 8:46 am

Controversial USD-backed stablecoin Tether is now the worlds fourth biggest cryptocurrency, only surpassed by Bitcoin, Ethereum, and Ripple.

Tether, which is actually only 74-percent backed by cash and other assets, garnered a higher share of the market after a major sell-off.

According to CoinMarketCap, Tether currently has a market capitalization of $4.13 billion.

Its trading volume stands at $36 billion over the past 24 hours.

Meanwhile, Bitcoin undoubtedly the worlds most famous cryptocurrency suffered a considerable decrease in terms of both price and market cap.

Although Tether enthusiasts may see this as cause for celebration,I wonder how hardcore cryptocurrency fans will stomach a stablecoin pegged to the US dollar being in the top four its likely theyll find it outright tragic.

Come say hi to the Hard Fork teamat our blockchain event. On October 15-17 in Amsterdam, hear from top experts as they discuss the industrys future.

Published September 25, 2019 15:29 UTC

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Dollar-pegged stablecoin Tether is now the worlds 4th biggest cryptocurrency - The Next Web

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