The year 2019 hasn’t been too kind to most alternative cryptocurrency markets. While Bitcoin has recovered a lot of lost value, the altcoins are simply not living up to expectations.
This trend may not necessarily relent anytime soon, as Bitcoin’s gains have little to no effect on altcoins lately.
Tether Continues to Make Waves
All of these market changes also trigger some rather unexpected changes which could have severe repercussions.
Throughout 2019, Tether has successfully overtaken Litecoin in terms of its market cap.
While those positions can easily switch back, it seems unlikely that anything of the sort will occur in the coming weeks.
Right now, it appears more than likely Tether will overtake Bitcoin Cash in market cap as well.
Currently, the gap between both projects is $750m, a divide that won’t be all that easy to overcome.
The difference between both markets is how Tether appears to remain stable in terms of market cap, whereas BCH is still losing value on a regular basis.
Additionally, there is always a chance Tether’s supply will increase drastically, as it remains the most popular stablecoin across cryptocurrency exchanges.
Some enthusiasts express their concerns over the position Tether finds itself in these days.
Despite USDT not being a cryptocurrency, it is listed on the market cap rankings. To some, that seems like heresy, as USDT is a digitized fiat currency.
That puts Tether’s creation on a whole different playing field by default, yet coin tracking sites show things are very different in the real world.
As the uneasy market momentum remains in place, Tether may very well trigger some surprises before the year is over.