Bitcoin cash loses its position as the fifth leading cryptocurrency to Tether USDT. According to the CoinMarketCap, Tether surpasses bitcoin cash looking at the cryptocurrencies rankings in market cap. As we all follow market capitalization to find a way to ascertain the value of particular cryptocurrency.
Bitcoin cash loses around 12 % of its value within the last 24 hours. Bitcoin is also in a down mark, around $3,429 pricing. Tether USDT seems to boost up by 0.53 % considering its 24-hour volume.
Bitcoin cash SV seems to speed up heading in the top five soon along with EOS closely lurking behind it. Currently, Bitcoin cash is trading at $197 down in comparison to Tether which is trading around $434. However, the prices of Tether is fluctuating within the ranges, might rise above stellar taking the 4th position soon.
There was more recent news about Tether which might be a reason in flipping its prices up. On December 5, Tether flips Litecoin and takes the 7th position by market capitalization. Tether is ramping up the expectation of traders as stablecoins is working fine.
At the start of the year, only 3 stablecoins traded, with Tether owning 94% of outstanding stablecoin market supply. Competition has ramped up with at least 8 new contenders dropping Tether's dominance to 74% at the end of November.
— Diar (@DiarNewsletter) December 5, 2018
Despite the ongoing criticism and scrutiny, Tether is successfully maintaining its market share that their opponents are all vying for. Recently, Bitfinex also made an official announcement to start trading Tether-fiat directly on its platform. The exchange also plans to back up Tether balance USDT as well as EURT, together with existing USD and EUR.
From today customers can access all major stablecoins at Bitfinex, as we introduce USDC, True USD, Paxos, and Gemini USD to our existing Tether and Dai offering.
Read more about our recent additions here: https://t.co/VCGSIfZbPd.
— Bitfinex (@bitfinex) December 4, 2018
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