Since its very first inception in around 2009, cryptocurrency, such as Bitcoin, Libra, etc., has been nothing new as of today. In this particular era, many people have already utilized it instead of cash money.
There are even discourses that this internet-based medium of exchange will possibly outplace money in the future. Apart from the positive and negative sides of the replacement, cryptocurrency’s dominance will most likely overthrown cash money in the near future.
Identical to cash money which has numerous variants depending on the countries, the same goes with cryptocurrency. As cryptocurrency is mostly developed by companies, such as Libra by Facebook, there are so many cryptocurrency out there.
That said, out of all the cryptocurrencies, what is the king of them in terms of trading, value, and popularity? Most of you might have guessed Bitcoin since it is one of the first, if not the initiator, of cryptocurrencies.
However, the answer is incorrect to some extent as analysts from Coin Market Cap disclosed data pertaining to it. Bloomberg, by deriving the data on the analysts, also argued the same.
As per September 27, Bitcoin did not rank first in cryptocurrency. Tether, its competitor, took the spot for the first time.
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Bitcoin vs Tether
The graph, as per September 27, showed that Tether outranked Bitcoin as the top cryptocurrency. That was the first time for Tether to ever be at the top.
Tether, claiming to be world’s largest and most used stablecoin, was gaining more daily trades than Bitcoin. Its daily trading volume was USD 3.5 billion larger than that of Bitcoin.
However, in terms of value and popularity, Bitcoin still owns the throne. By market cap, it is still the biggest cryptocurrency. That said, Bitcoin also has higher value than of Tether.
In terms of price, Bitcoin stands at more than USD 8.000, the most expensive one. Meanwhile Tether’s seems to be permanent at USD 1.
In conclusion, in terms of trading volume, Tether takes the lead. Meanwhile, in almost every other aspect, Bitcoin still has them. However, data might shift for it keeps updating all the time.
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