$118,174.00
-0.07%$3,683.30
3.00%$3.45
-0.51%$745.55
1.67%$178.50
0.92%$0.999801
-0.00%$0.252229
-0.68%$3,683.06
3.21%$0.848517
2.49%$0.319486
-2.11%$4,443.95
2.98%$118,080.00
-0.12%$45.10
1.25%$0.463757
-0.85%$3.95
4.61%$18.93
5.05%$0.269844
0.28%$24.78
4.28%$525.91
3.01%$3,950.93
3.16%$117.50
14.45%$0.0000151
-0.37%$3,687.88
3.10%$8.99
0.17%$3.22
0.90%$0.999838
-0.03%$1.00
-0.10%$4.43
3.19%$44.45
0.17%$118,174.00
-0.05%$10.58
3.29%$1.002
-0.01%$325.46
0.33%$0.00001371
3.82%$4.96
-1.60%$327.23
3.20%$422.89
3.74%$0.120391
0.58%$24.90
0.90%$2.95
2.20%$1.18
-0.01%$5.36
1.01%$0.444723
-0.66%$1.045
1.59%$5.92
3.63%$48.91
0.91%$0.46148
16.38%$217.41
0.82%$0.802666
4.79%$0.000034
0.61%$1.00
0.00%$0.294366
-0.39%$0.095975
3.06%$0.474637
3.11%$0.02825032
2.09%$5.14
5.01%$3,676.83
2.80%$4.26
5.11%$0.999494
-0.13%$0.244128
3.07%$17.70
2.12%$1.19
3.46%$0.789787
3.14%$10.27
1.78%$0.354982
2.45%$0.03092209
-2.58%$4.50
-0.18%$2.82
2.01%$1.06
0.02%$0.083121
-1.50%$189.41
0.74%$3,861.46
3.17%$4,200.16
3.10%$118,058.00
-0.06%$1.81
0.92%$0.550083
2.39%$113.85
2.50%$0.098023
10.75%$0.00446731
1.84%$4.97
0.43%$12.04
0.96%$0.998508
-0.01%$1.47
7.92%$2.05
4.37%$0.999505
-0.04%$4.82
4.53%$0.02029349
-1.52%$14.42
4.22%$3,877.89
4.70%$1.00
-0.18%$0.774449
2.63%$0.852101
1.70%$0.98446
0.82%$3,928.13
3.12%$1.34
1.28%$0.00013821
2.15%$3,976.17
2.95%$0.391192
3.59%$3,882.08
3.00%$0.638501
6.48%$1.00
-0.03%$1.79
2.22%$1.10
37.96%$0.112188
3.65%$1.10
5.05%$117,989.00
0.05%$200.48
0.73%$1.13
3.68%$0.999102
-0.14%$0.169662
0.39%$744.53
1.44%$0.608262
2.89%$118,237.00
0.17%$3,360.25
-0.04%$28.44
1.68%$0.930527
4.51%$2.69
1.63%$1.11
0.08%$119,832.00
1.33%$0.235947
2.28%$0.01970696
4.79%$233.78
0.89%$0.999867
-0.01%$0.01711825
1.03%$3,350.98
0.05%$0.333357
2.55%$3,685.92
3.10%$0.138195
5.07%$3,927.88
3.02%$0.905443
1.63%$3,825.36
1.77%$4.62
2.58%$2.84
2.83%$0.281867
2.79%$0.142712
35.05%$9.02
-19.02%$44.30
0.69%$0.00000073
1.24%$111.86
0.00%$1.99
4.06%$0.439692
4.10%$3.74
-2.85%$2.13
6.68%$0.998564
-0.03%$0.345746
4.44%$0.999885
-0.00%$118,071.00
0.01%$0.252148
-0.70%$3,689.68
3.21%$0.01861861
0.49%$0.00693841
8.36%$0.00000163
6.30%$1.09
-0.44%$0.451718
3.52%$31.22
3.26%$0.00874136
0.07%$0.060207
4.92%$1.69
3.50%$0.355168
2.38%$0.997554
-0.01%$117,074.00
-0.42%$3,913.90
2.93%$3,676.26
2.94%$0.00959662
4.16%$118,154.00
-0.11%$0.551757
0.35%$0.690953
2.07%$1.32
1.45%$0.999992
-0.08%$3,690.93
3.23%$0.074686
2.01%$4,068.64
3.06%$0.999675
-0.02%$0.527093
3.85%$0.690397
3.93%$45.12
1.21%$0.144411
4.23%$7.27
3.53%$1.16
-0.02%$0.203804
6.35%$53.43
4.28%$7.55
1.81%$17.36
3.22%$0.997872
-0.17%$1.57
1.59%$0.00002433
9.35%$3,980.09
3.20%$0.406601
2.71%$0.434919
3.84%$0.427344
0.84%$0.22058
4.64%$2.77
3.65%$0.00000046
-1.25%$0.323599
0.72%$0.061694
3.97%$3,675.43
3.11%$10.75
0.00%$0.04457203
3.85%$45.09
1.27%$3,682.47
3.04%$0.091369
1.00%$0.164112
0.32%$7.39
-7.92%$4,439.05
3.01%$0.00411437
2.05%$1.093
-0.00%$0.999802
-0.01%$0.999851
0.12%$1.48
7.59%$1.005
1.11%$0.606361
2.52%$1.67
2.40%$0.00778708
5.96%$150.16
2.81%$118,270.00
0.93%$0.857341
7.43%$0.38656
2.69%$0.999854
-0.02%$30.12
4.24%$195.31
0.79%$0.584172
2.75%$0.00557231
0.63%$0.390581
2.29%$0.844869
1.29%$0.00006827
3.79%$12.83
1.45%$24.78
4.23%$0.0378628
-0.71%$4.45
6.83%$0.00414483
10.53%$3,863.01
2.91%$0.01892637
-1.35%$21.89
3.20%$0.00421617
4.52%$0.244017
3.07%$0.03322292
3.58%$118,076.00
-0.07%$0.754701
1.60%$0.831728
1.04%$0.334764
-0.65%$4,140.63
3.26%$3.78
-1.80%$1.076
1.00%$0.78409
10.75%$0.998254
-0.03%$7.35
1.78%$0.998998
-0.09%$0.514136
2.10%Reading
Tether (USDT) has become the third-largest cryptoсcurrency by market capitalization today, pushing Ripple’s XRP down to the fourth place, according to crypto analytics platforms Messari and Coin Metrics.
If you multiple the number of coins in a cryptocurrency by its current price, you get its market capitalization. It’s a way of comparing assets that have wildly different supplies. Since Tether is a stablecoin and its price doesn’t really move—the price of a single USDT is designed to be mostly equal to $1—the only way to increase its market cap is to mint new coins.
As Decrypt reported, Tether’s market capitalization exceeded $12 billion just recently after increasing by $1 billion in one week. Today, it has already reached $13.14 billion, noted Coin Metric analyst Lucas Nuzzi in a tweet.
Nuzzi also listed the top five stablecoins by their year-to-date growth.
The Top 5 Highest Growing Stablecoins YTD?
1 @binance BUSD (+578%)
2 @MakerDAO DAI (+431%)
3 $USDT on Tron "no one talks about it" (+370%)
4 $USDT on Ethereum (+226%)
5 @Gemini GUSD (+165%)
data from @coinmetrics
— Lucas Nuzzi (@LucasNuzzi) August 19, 2020
This is not the first time Tether has replaced XRP as the third-largest crypto. Amid the market meltdown back in March, USDT briefly overtook XRP after surpassing $5 billion in market cap.
Tether’s growth comes despite its parent company dealing with several court cases. Currently, Tether and its sister company, crypto exchange Bitfinex, are in the middle of a fraud investigation led by the New York Attorney General’s office over allegations that they conspired to mask an $850 million dollar void in Bitfinex’s finances.
The New York Attorney General's office offered further details on its decision to investigate Bitfinex and Tether in a court filing published yesterday by the state’s Supreme Court, in a bid to obtain jurisdiction and press on. The new brief expands on allegations that the exchange masked an $850 million dollar hole in its finances by loaning itself funds backing Tether, the issuer of the eponymous stablecoin, without informing investors. “Step by step,” the attorney general wrote, the companie...
A class-action lawsuit also accused Tether of damages of $1.4 million for printing billions of dollars worth of the cryptocurrency and for manipulating the price of Bitcoin in 2017.
But in the meantime, Tether keeps growing.
The debate over whether Bitcoin is best suited for payments or as a store of value is flaring up again. This time, it comes after the price to send the leading cryptocurrency has been slashed. Top Bitcoin blockchain explorer Mempool posted this week that now users of the biggest crypto network can pay as low as 0.1 satoshi per virtual byte (sat/vByte) to get their transactions processed. A satoshi is the smallest unit of Bitcoin, with 1 satoshi equaling 0.00000001 BTC. Previously, it would cost...
Ethereum’s price has increased at nearly twice the rate of Solana’s over the past month, but the outperformance will likely be temporary, according to Adrian Fritz, head of research at Switzerland-based asset manager 21Shares. Although Ethereum is the most secure and decentralized smart contract platform, Solana is still a smaller project with more upside, partly due to its community of developers that are constantly striving for “better execution,” he told Decrypt on Friday. “Ethereum was almos...
Barstool Sports founder Dave Portnoy can’t help sharing his crypto fumbles, notably declaring in 2021 that he “fucked up Bitcoin” by panic-selling his stash for a huge loss the year prior. But the outspoken personality continues to play in the crypto world, including launching his own Solana meme coins last year and pumping-and-dumping others. Now he’s griping publicly about selling off his stash of XRP before the prominent cryptocurrency surged to an all-time high on Thursday, breaking a record...
