Despite ongoing since October, a sharp decline of capitalization, Tether (USDT) is a monopoly among the other tablconv.
This “stable coin” is currently trading below the target level of $1 and its market capitalization on January at:
Data: CoinMarketCap
However, USDT is still in the top ten by market capitalization (8th place), and the market share of the “newer” tablconv is still very low:
Data: CoinDesk, CoinMarketCap
The only competitor Tether, whose share on the market exceeds 1% — this is the Standard Paxos Token (PAX), located at 50 place by market capitalization. Thus, the share of USDT among other tablconv is 97%. The total market value of all “stable coins” is around $2.5 billion.
On the other hand, USDT currently presented in 400 exchanges. While PAX is in listing a total of 35 platforms, indicating a significant potential of this coin.
It is also noteworthy that on Wednesday, when because of the collapse of the market “thinner” at $30 billion, the volume of trading in the new stablename USD-C, TUSD and DAI has grown more than 200 percent. Thus, many investors see these coins a safe alternative vysokovitaminnym assets.
Below illustrated the increase in trading volumes new stablename during 14-15 November. In that period the turnover of the coin, USD Coin (USD-C) from start-up Circle has grown by almost 400%.
The growing popularity of tablconv also largely due to the fact that due to regulatory obstacles in many exchanges are not represented fiaty the us dollar, but only its alternative in the form of tokens.
Earlier, an analyst Amarkets Artem Deev expressed the opinion that one of the causes of the recent collapse in the market is the desire of the traders to go in stabilini.
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