RATE Group | Tether Briefly Enters Top Four Cryptocurrencies, EOS Spikes by 21%
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Tether Briefly Enters Top Four Cryptocurrencies, EOS Spikes by 21%

17 Dec Tether Briefly Enters Top Four Cryptocurrencies, EOS Spikes by 21%

Posted at 19:55h in Cryptocurrency News by

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tether crypto stablecoin usdt

For a short time yesterday, the Tether stablecoin (USDT) hit 4th place by market capitalization in the cryptocurrency charts. Today Bitcoin (BTC) and other altcoins are showing green. EOS is back in 4th place with a sudden 21% hike, and Stellar (XLM) is now in 5th place with a near 9% price increase. At one point, it appeared that investors were selling out of their stablecoin holdings with some gusto.

Tether’s market capitalization drops back to $1.85 billion, before rising:

Tether Market Capitalization: Source CoinMarketCap

Given the outstanding controversy surrounding Tether and the rise of many other stablecoins – its recent performance is notable. Tether’s market capitalization has lost around $700 million in recent months but the coin did also achieve 5th place by market capitalization last week too.

As Tether receives scrutiny from researchers for its involvement in Bitcoin’s price boom of 2017, regulatory-backed stablecoins like the Gemini Dollar (GUSD) and…

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