Forex and Crypto News

Tether displaces Bitcoin Cash

13:07 03 December /2019

The weakening of Bitcoin and the decrease in altcoin rates created good conditions for strengthening the Tether stablecoin (USDT) on the market. Tether's capitalization has exceeded $4 billion, which allowed Tether to displace Bitcoin Cash and take 4th position among the cryptocurrencies with the largest market capitalization.

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Bitcoin Cash occupied the fourth line of the rating for a long time. On Tuesday, December 3, Tether capitalization reached $4.287 billion, the USDT rate is $0.999.

BCH capitalization dropped to $3.89 billion, and BCH can be also di[laced from the 5th place, as Litecoin's capitalization is growing and now stands at $2.8 billion.

Stablecoins are traditionally strengthening during periods of decline in the value of major digital currencies. Traders prefer to minimize their risks by investing in coins secured by fiat money.

A similar trend was observed at the end of last year, at the background of a drop in the cost of bitcoin and other assets. In December 2018, Tether rose in the CoinMarketCap rating. In January 2019, USDT replaced Stellar from its place.

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