Tether is Third in Market Capitalization

[BTC Future 3946]

Stable Coin Tether has reached 3rd place in market cap terms and passed XRP. Its market cap is a little more than 9 Billion USD right now (coinmarketcap takes a few days before updating some data). The latest issues of Tether are close to 3 billion USD and 2,2 of them have been issued on the TRON network.

 

 

I have discussed a lot what might be going on but we can only speculate about which assets are the ones that Tether considers collateral that can be used for backing up their USDT. Tether claims that the USDT token is covered by the same amount of USD or other assets they have in their reserves. Since there is no audit though and since Tether claims that no audit can be performed it is unclear what is going on.

Personally I don't have a clue how they are backed and noone seems to be giving a convincing answer. Still the latest USDT printing can be considered a good signal to trade as the last few months after the March dip, it coincided that Bitcoin was pumping when Tether was printing. After the halvening Tether has printed only 120 million USDT and Bitcoin's price is dropping.

 

Edited May 25, 2020 by BTC Future

[rekter 8129]

My guess is that it will eventually take second place too. People seem to have an endless trust towards it even though the fud around it has been really scary in the past. People also seem to forget that strong enough government can just put an end to it and ban it all together. And banning tether would be pretty devastating blow.

 

It wouldn't kill bitcoin but it would hurt the crypto scene as whole.

 

Edited May 25, 2020 by rekter

[Whited35 15285]

I can not imagine what would happen if there was not Tether USDT in the crypto world. If we are about to cut the loss while performing tradings on the most of cryptocurrency exchange , USDT has always been the best option. Now we can see it third in the market capitalization however it's target price always equivalent to USD. I wonder to see the increasing craze for USDT. 

[bitcoin-shark 1928]

I personally liked tether right from the start, it's great to use in Trading to get out of Day Trading, thus keeping your earnings for the day, it's excellent, In my opinion is also an excellent alternative saving method to bitcoin...

[Zues 1069]

8 hours ago, Whited35 said:

I can not imagine what would happen if there was not Tether USDT in the crypto world. If we are about to cut the loss while performing tradings on the most of cryptocurrency exchange , USDT has always been the best option. Now we can see it third in the market capitalization however it's target price always equivalent to USD. I wonder to see the increasing craze for USDT. 

Yes You are right and I think that tether is very useful in the cryptocurrencies world and I think that they are performing well so their rankings getting higher and they are known as the third most used and I hope that they can earn more with tether

[Honny143 13612]

In my opinion present so many traders use Tether coin for trading, because its better then xrp, and this coin developers also gives good publicity, and most effective think is its good for day trading because its prices fluctuates, so this coin take third place in crypto market.

[nykas 2812]

Stable coins are necessary for cryptocurrency market so it`s obviously that this coin must have very big market capitalization, so Tether is good example of good stable coin 

[CryptoLover21 0]

Tether specifically belongs to the category of fiat collateralized stablecoins that aims to keep cryptocurrency valuations stable, as opposed to the wide swings observed in the prices of other cryptocurrencies.

[ETheHedgehog 3104]

if they actually back it with USD then it can act as a very good stable coin in the crypto world, hopefully it doesn't turn out to be a lie

[gourav789 2834]

tether is widely used coin in binance as well in other exchange for trading purpose , because tether is also look like a stable coin in market From long time as a result tether have a good coinmarketcap value .

[Mcd0d0 5882]

Well, that's true mate, at first, i didn't expect that there's some coin who can beat XRP because there has many XRP users un terms of investing and trading but when i look to my blockfolio, the rank of it are going down into 4, happy posting.

[jamesvince 2389]

I am really surprised when today i checked coingecko total capitalization of crypto market surprised to saw third place is usdt instead of xrp many times ago this place makes by the ripple but now xrp damage their quality due to may be many people withdrawal their investments from xrp and put into any other coins or tokens. 

[BTC Future 3946]

On 5/27/2020 at 8:45 AM, jamesvince said:

I am really surprised when today i checked coingecko total capitalization of crypto market surprised to saw third place is usdt instead of xrp many times ago this place makes by the ripple but now xrp damage their quality due to may be many people withdrawal their investments from xrp and put into any other coins or tokens. 

XRP has certainly underperformed and too many lost faith in it. It seems that sell pressure by Ripple and the McCaleb coins that are sold each month are enough to cause concern that perhaps the coin is still overvalued. 

[Whited35 15285]

On 5/26/2020 at 3:05 PM, Zues said:

I hope that they can earn more with tether

Who can more with Tether ? USDT is stablecoin and if you are concerned to get benefits from price volatility like Bitcoin, ETH etc, Stablecoin can not be the proper option for you. It can be used to cut the loss while performing crypto tradings. 

[koussai999 1986]

You can support any currency by purchasing the cryptocurrency in a good amount and storing it for a good period of time and not trading in it or changing to another cryptocurrency and working in sites that deal with this currency

[Saj555 2250]

This is a stable coin. But it has gone to the third  place and that is quite shocking i guess. The market cap of this currency is $8.8 Billion.And the volume of this coin was $36.3 Billion (24h).USDT is a token that attempts to be tied with the US dollar. But maybe this can also go to the second place i guess.  The coin is good for trading actually. 

[Raqeebzy 6456]

It might interest you to know Tether (USDT) has overtaken bitcoin as the coin with most traded volume, Tether is proving to be a good coin. I believe it is just a matter of time it comes second (it would've if not because it is stable), but it's a lot more risky with it.

[BTC Future 3946]

21 hours ago, Raqeebzy said:

It might interest you to know Tether (USDT) has overtaken bitcoin as the coin with most traded volume, Tether is proving to be a good coin. I believe it is just a matter of time it comes second (it would've if not because it is stable), but it's a lot more risky with it.

Indeed, this happened a few months ago. Take into account though that all volumes are fake so we can't be sure of what is going on exactly. Instead of billions most pairs have actual volumes of millions.

[miskyming 1588]

But now it went down in 4th place. Well Tether is a recommendable stable coin that is why the biggest volume of all cryptocurrency. Just check it out in the coinmarketcap volume(24h). 

[BTC Future 3946]

1 hour ago, miskyming said:

But now it went down in 4th place. Well Tether is a recommendable stable coin that is why the biggest volume of all cryptocurrency. Just check it out in the coinmarketcap volume(24h). 

It will be 3rd again sooner or later. Ripple is having the usual pump n dump. Although with the Chads buying every asset like crazy you never know. Then again Paolo Ardoino the CEO of Tether and CTO of Bitfinex said in an interview that Tether might even reach 100 Billion market cap.

[DiamondBit 720]

On 5/30/2020 at 2:27 AM, Whited35 said:

Who can more with Tether ? USDT is stablecoin and if you are concerned to get benefits from price volatility like Bitcoin, ETH etc, Stablecoin can not be the proper option for you. It can be used to cut the loss while performing crypto tradings. 

I do not get your point or you are wrong. Bitcoin will be converted to tether is price is decreasing while tetherball will be converted to bitcoin I price is increasing. They are both important and needed  while trading. I mean not stable and unstable coins. 

[BTC Future 3946]

Tether is once again 3rd in market cap terms after printing another 2-3 billion USDT the last few weeks. It surpassed XRP again and perhaps it will still keep minting new tokens. 

 

Click image to Zoom-in

Edited August 22, 2020 by BTC Future

[CryptoDemon 370]

On 5/26/2020 at 4:18 AM, BTC Future said:

Stable Coin Tether has reached 3rd place in market cap terms and passed XRP. Its market cap is a little more than 9 Billion USD right now (coinmarketcap takes a few days before updating some data). The latest issues of Tether are close to 3 billion USD and 2,2 of them have been issued on the TRON network.

 

 

I have discussed a lot what might be going on but we can only speculate about which assets are the ones that Tether considers collateral that can be used for backing up their USDT. Tether claims that the USDT token is covered by the same amount of USD or other assets they have in their reserves. Since there is no audit though and since Tether claims that no audit can be performed it is unclear what is going on.

Personally I don't have a clue how they are backed and noone seems to be giving a convincing answer. Still the latest USDT printing can be considered a good signal to trade as the last few months after the March dip, it coincided that Bitcoin was pumping when Tether was printing. After the halvening Tether has printed only 120 million USDT and Bitcoin's price is dropping.

 

Tether is really improving faster but we cannot easily say that it will be the top crypto currency in the future because Bitcoin is still having their improvement and us not yet matured.

[Moaz 7239]

One of the most important features of the Tether currency is that it is a stable currency and is linked directly to the US dollar, and has a large market value, and it is a coin based on the Ethereum blockchain technology and it is ranked 4 in Coinmarketcap. There are many experts in the field of crypto expecting a rise big for Tether currency  during the coming period

[TimopheyKa 3900]

Classic funds using this system can be transferred to counterparties cheaper and much faster than using a traditional Bank transfer. The speed of financial transactions involving Tether is the same as when using other virtual funds.