NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Tether Surpasses XRP to Become the Third-Largest Cryptocurrency

Yashu Gola
Yashu Gola
5 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • The market capitalization of Tether (USDT) surpassed that of XRP this week.
  • The dollar-pegged stablecoin is now the third-largest cryptocurrency.
  •  Macro factors led the demand for USDT higher, including traders’ flight-to-cash amidst the fast-spreading novel Coronavirus pandemic.

Tether has replaced XRP, the native token of the San Francisco-based blockchain payment firm Ripple Labs, to become the third-largest cryptocurrency by market capitalization.

bitcoin, tether, cryptocurrency, btcusd, stablecoin
Top cryptocurrency tokens by market cap as on April 22 | Source: Messari.io

The dollar-pegged stablecoin, which protects traders from the extreme volatility associated with Bitcoin and similar crypto-assets, saw its reported valuation surpassing $7.5 billion on Wednesday. Meanwhile, the size of the XRP market squeezed under $5.5 billion as its prices fell into negative territory on a year-to-date timeframe.

Tether Demand Up

The rise in Tether’s market capitalization followed a voluminous flight to cash in the first quarter of 2020. Data aggregator Messari wrote in a client note that demand for stablecoins, especially USDT, was as high as it was in the entire 2019, indicating that traders anticipate wilder price volatility in the rest of the crypto market.

The sentiment takes cues from the ongoing macroeconomic crisis caused by the Coronavirus pandemic. As equities and commodities crashed to their record lows in mid-March, they also prompted bitcoin and other digital assets to pursue a similar downward trajectory.

The crypto market capitalization on whole fell by circa $60.25 billion in March 2020.

bitcoin, tether, cryptocurrency, btcusd, stablecoin
Crypto market cap is recovering following global central banks’ stimulus programs | Source: TradingView.com

XRP was one of the victims of the March crash, falling 24.32 percent to close the month at circa $0.17. On the other hand, traders’ appetite for Tether, the topmost stablecoin, surged, making it the top crypto beneficiary of the Coronavirus pandemic.

“The largest beneficiary of the March volatility was Tether,” said Ryan Watkins, research analyst at Messari. “It’s fitting that the top 3 crypto assets now feature the top 3 verticals in blockchain technology: Money, DeFi, and Stablecoins.”

Dollar Shortage

At the same time, Mr. Watkins anticipated the demand for stablecoins to head higher as the world comes face to face with a US dollar shortage. He said USDT, as well as its competitors, including USDC and BUSD, could quadruple their growth in 2020.

“With the announcement of Libra and the growth of stablecoins last year, many consider 2019 as the year of stablecoins,” said Ryan Watkins, research analyst at Messari. “But if trends from the past quarter persist, 2020 could very well give 2019 a run for its money.”

Photo by Maico Amorim on Unsplash

Tweet123Share250ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin, btc

Bitcoin Attempts $111,000 Reclaim, But Last Leg Up Could Be Weeks Away – Analyst

Bitcoin (BTC) has seen a 4% bounce from the lows to retest a crucial resistance level, which could determine whether...

Rubmar Garcia 1 hour ago
비트코인 고래, 대규모 ETH 매수…이더리움 가격 상승 신호?

비트코인 고래, 대규모 ETH 매수…이더리움 가격 상승 신호?

한 암호화폐 큰 손, 일명 고래 투자자가 약 4억3,500만 달러 규모의 비트코인($BTC)을 매도하고, 9만 6,000개 이상의 이더리움($ETH)을 매입한 것으로 확인됐다. 온...

Soyeon Lee 1 hour ago
Bitcoin

One Major Reason Bitcoin Hasn’t Reached $150,000, According To Trump’s Crypto Advisor

Bitcoin (BTC) has experienced a significant correction this week, retracing over 10% from its all-time highs above $124,000. Despite this...

Ronaldo Marquez 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

ethereum koers, ethereum daalt, eth koers, altcoins, crypto crash, bear market

Ethereum verkoopdruk bereikt $1,2 mld – signaleert verkoop volume een bear market?

Lars Diederiksen 1 minute ago
SPX6900 „giminaitis“ TOKEN6900 šiandien debiutuoja biržose – ar laukia 100x šuolis?

SPX6900 „giminaitis“ TOKEN6900 šiandien debiutuoja biržose – ar laukia 100x šuolis?

Tomas Jankūnas 1 minute ago
Ethereum Price Pulls Back Again

Ethereum price Crash To $4,081: Why The Bears Are In Charge

Scott Matherson 21 minutes ago

Premium Sponsors

Press Releases

  • Top ICO Crypto Tháng 9 – Meme Coin Tiềm Năng Để...

    13 minutes ago
  • Presale Bitcoin Hyper

    Bitcoin Hyper Dẫn Đầu Các Đồng Coin Tiềm Năng...

    23 minutes ago
  • Các Đồng Coin Tiềm Năng

    3 Altcoin Bùng Nổ Mùa Này – Cronos, Bitcoin Hyper...

    28 minutes ago
  • Transformarea a 750 USD în 1.500.000 USD: În 2021 a fost Shiba Inu, în 2023 a fost Pepe Coin – care va fi următorul token de un cent?

    Transformarea a 750 USD în 1.500.000 USD: În 2021 a fost...

    44 minutes ago
  • 12億ドルの売り越し、市場は調整局面に突入か?

    イーサリアム...

    13 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.