$93,554.00
2.30%$1,787.88
5.23%$2.22
3.08%$602.31
-0.99%$150.03
4.06%$0.999945
-0.00%$0.17868
3.90%$0.697987
6.39%$0.245912
0.17%$1,786.67
5.14%$93,467.00
2.25%$2.98
21.06%$14.87
7.44%$22.25
3.15%$9.09
0.71%$0.267323
2.57%$0.00001353
2.39%$3.15
4.82%$0.180871
2.18%$2,139.02
5.07%$0.999914
-0.01%$357.92
0.24%$82.96
0.01%$4.08
4.31%$18.42
-2.14%$4.51
-0.15%$1.002
0.26%$1,779.87
4.75%$0.999523
-0.03%$0.661981
3.72%$225.88
1.57%$28.58
0.14%$1,898.52
4.90%$0.00000885
5.08%$93,627.00
2.25%$5.99
6.47%$5.34
4.21%$52.16
0.95%$2.49
7.42%$342.25
1.48%$23.59
-0.04%$0.917426
2.62%$5.14
4.68%$13.28
49.77%$32.61
-0.48%$16.76
2.89%$1.00
0.00%$1.049
-0.16%$165.19
8.05%$0.090401
0.17%$0.095177
2.40%$4.58
3.21%$0.700727
1.48%$0.02584516
4.12%$1.17
0.06%$4.38
2.81%$0.222508
2.27%$93,420.00
2.23%$0.333059
7.54%$0.213563
6.09%$2.77
4.90%$4.24
0.14%$2.79
4.38%$0.619569
1.13%$0.506083
3.59%$0.33506
7.20%$0.998003
-0.15%$4.12
2.64%$93,044.00
1.61%$10.41
3.24%$0.448322
5.15%$0.760591
5.63%$156.77
3.55%$1,453.65
2.58%$0.075527
1.13%$0.00001528
5.58%$0.7743
-3.00%$0.859263
7.18%$1.099
2.99%$0.59656
8.99%$1,792.10
5.58%$1.072
-2.04%$0.01688081
3.13%$71.76
4.53%$1,854.66
4.99%$0.665884
1.63%$0.19464
5.86%$3.68
5.82%$1.00
-0.03%$9.44
4.77%$1.00
0.02%$0.090442
3.24%$0.648676
-3.73%$2,008.45
5.08%$1.002
0.25%$14.51
-5.23%$1.00
-0.07%$3,307.96
-2.57%$604.20
-0.63%$0.01652568
11.70%$91,990.00
1.22%$3,313.29
-2.60%$165.40
4.22%$193.05
4.10%$0.01695768
4.09%$93,502.00
2.43%$2.56
2.10%$0.02185982
21.69%$0.806111
6.01%$0.295458
3.28%$0.193302
4.72%$1,900.46
5.26%$0.683916
2.82%$0.116544
-0.13%$0.00007013
11.15%$0.997837
0.01%$3.62
-4.76%$0.653122
-0.80%$0.514482
16.10%$0.00000064
1.51%$2.01
2.31%$0.999228
-0.07%$93,408.00
1.73%$0.393727
2.52%$30.65
1.43%$0.244059
8.55%$1.10
-1.05%$0.315738
3.16%$1.80
-0.65%$1,862.35
4.78%$16.79
6.72%$0.535004
1.75%$0.00604316
-5.71%$0.151177
3.32%$33.84
6.81%$0.540079
13.60%$3.28
-3.20%$0.53704
0.62%$0.051334
33.91%$0.763305
19.33%$0.999057
-0.02%$0.638071
3.74%$90,687.00
3.93%$94,807.00
-0.24%$0.51777
4.52%$0.067315
0.52%$0.442012
2.92%$93,501.00
2.24%$0.00832463
-4.18%$2.25
14.89%$1.70
3.63%$0.999894
-0.01%$0.179067
4.18%$1.29
0.57%$1,866.51
5.51%$0.999892
-0.01%$0.0000218
1.36%$15.35
3.82%$0.148337
6.52%$0.536607
24.39%$110.78
0.01%$93,527.00
2.28%$0.00672162
10.54%$0.00000043
0.06%$5.99
3.80%$1,774.30
4.53%$6.40
8.48%$0.166853
36.15%$1.084
0.03%$0.505732
5.16%$0.99216
-1.01%$2.50
3.50%$0.077569
3.78%$3.61
0.49%$1,789.33
5.18%$0.04063481
4.16%$1,789.70
5.60%$0.222557
2.19%$1,903.67
5.25%$42.85
2.94%$0.324618
7.01%$1.00
-0.01%$0.081411
4.00%$0.00696543
6.85%$1,788.91
5.43%$0.999571
-0.01%$21.65
-0.49%$0.176982
1.53%$0.0041948
4.33%$1.002
0.12%$0.00006389
2.88%$0.559232
0.74%$0.816331
2.03%$0.344866
8.00%$0.01731405
0.78%$1,833.20
5.82%$1.001
0.43%$0.999601
-0.04%$0.00000157
12.81%$0.00455633
53.36%$0.119412
0.23%$0.0315544
0.59%$0.329368
4.93%$0.67754
12.25%$2.71
2.73%$93,411.00
2.25%$1.20
6.39%$0.704963
2.84%$26.99
4.87%$1.00
0.04%$113.60
3.91%$0.238157
4.12%$0.642858
6.27%$0.139364
-0.59%$3.56
1.05%$93,147.00
3.31%$1,761.70
4.84%$0.999741
0.05%$2.89
3.87%$22.28
3.07%$0.270077
1.41%$3,187.58
0.01%$0.264851
6.00%$1,889.27
5.33%$1,790.99
5.36%$0.187254
3.24%$0.111924
2.28%$0.512473
4.00%$0.03691552
0.66%$1,879.56
2.34%$0.2501
13.97%$0.0126199
1.84%$22.26
3.06%$0.02943644
3.80%$0.439665
2.59%$15.22
5.45%$1.033
5.01%$0.723842
2.04%$0.0027612
1.19%$0.93659
5.23%$0.00268234
6.45%$1,956.73
5.13%$1.00
0.02%$0.999772
-0.05%$93,528.00
2.69%$0.00
5.06%$1,934.72
4.71%$2.22
1.88%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 price of Bitcoin added to yesterday’s gains, despite dipping earlier Wednesday after the Trump Administration's latest zigzag on trade. The leading cryptocurrency was recently trading hands around $93,400, up 2.2% over the past 24 hours, according to crypto data provider CoinGecko. It had fallen near $92,000 earlier in the day. Ethereum and Solana rose 5.3% to $1,780 and 4% to $150, respectively. U.S. Treasury Secretary Scott Bessent said that U.S. President Donald Trump hasn’t made a one-...
President Trump's official Solana meme coin, TRUMP, skyrocketed in value Wednesday after the project offered an exclusive dinner as a reward for top token holders. TRUMP is up nearly 66% on the day, according to data from CoinGecko, rising from $9.30 to the current mark of $14.72 in less than an hour. It's the highest price seen for Trump's meme coin since early March. News of the announcement created a stir among crypto traders, pushing the token’s trading volume to more than $295 million in th...
Bitcoin isn’t the only cryptocurrency shining bright since the U.S. President Donald Trump slapped “reciprocal” tariffs on nearly every nation this month. Since Trump's Liberation Day on April 2, Solana and Bitcoin have outperformed other major cryptocurrencies, rising 14.5% to $145 and 7% to about $91,100, respectively, according to crypto data provider CoinGecko. Ethereum (-10%), XRP (-12%), and Dogecoin (-1%) have fallen. Solana and Bitcoin have buoyed the broader crypto sector, with the glo...
