Decline of the digital currencies gets USDT to the top 5 by market capitalization

Decline of the digital currencies gets USDT to the top 5 by market capitalization
Dec 11, 2018 by Rico Wise

This deserves a notice seeing how USDT itself has lost nearly 700 million dollars’ worth of capitalization starting from September, which for USDT token accounts for units of issuance and not simply shifting trends. This is a huge loss, and financiers would have been desperate to abandon any association with the company, but instead of that, only more clients are coming in.

One of the reasons for Tether retaining and not losing is that the expense of exiting Tether directly is a lot higher than with other dollar-pegged currencies. PAX, USDC, and GUSD all provide significantly better exit conditions than USDT does – charging a minimum of a few thousands of dollars for conversion into USD.

Three months ago, LTC had more than twice the amount of its current market capitalization, which accounted for over 3.4 billion dollars. Currently its 400 million dollars behind USDT. EOS too was at nearly 200% of its current state, currently being a little more than 2 billion USD instead of a whopping 4 billion dollars, although present decline pressure might push the currency further down. Tokenized networks depend on the demand from their connected coins, with EOS in need for the launch of new startups or refreshed interest in the old ones to restore its former glory.

Still, the saddest stories of all happened to BCH, which recorded a nearly 75% loss. Three months ago it had a market cap of more than 8 billion dollars, currently lagging behind USDT by over 100 million dollars. It is fair to note that BCH is able to gain capitalization a lot easier than USDT, with fewer roadblocks to overcome. Thus, if any token is into fast-paced and spectacular recovery – its Bitcoin Cash rather than Tether.

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