The world’s most popular stablecoin, Tether (USDT), surges to new heights this morning as its market cap surpasses three other to claim the 4th place position according to coinmarketcap.com. While Tethers existence and popularity often come under scrutiny, its current surge further proves its worthiness among other top currencies.
Over the past 24 hours Tether has surpassed Litecoin, BCH, and EOS in market cap valuations to claim the #4 most popular currency position. Earlier in the week Tether also surpassed Stellar (XLM) which has recently fallen to the number #9 position.
The past 24 hours has witnessed extreme declines for most major cryptocurrencies including Bitcoin, XRP, Ethereum and EOS are all reporting negative numbers. Tether is the sole token reporting in the green in the top 10 and even the top 20, despite the controversy surrounding it.
All of the top 100 tokens are currently reporting in the red except for four stablecoins.