Analytics / Forex and Crypto News
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.
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.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov