Tether Might Soon Displace Litecoin in Market Capitalization Rankings

2018 has been a bearish year for the crypto market, and not many would have predicted it. With a number of analysts opining last year that while the market might suffer a fair possible dip after its crazy surge in volumes, it was bound to recover towards the end of this year.
The year is still some way from ending, but there have been few signs that the crypto market would end on a high note; While the market continues being staggeringly unpredictable, as traders and investors keep waiting on coins to discover what the market holds in relation to the consistent displacement in rankings.
Tron for example, currently 12th in the rankings according to market capitalization, has risen faster than anyone has expected, considering the bearish nature of the market. Justin Sun, the CEO and founder of the coin still believes the coin is set to displace higher rankings soon, claiming Tron could surge into the top 10 within the next six months.
If any coin might suffer the drop as a result of Tron’s rise, Litecoin (LTC) might end up the susceptible party. Litecoin, previously sixth in rankings have been pushed down to seventh after Stellar Lumens displaced it. And there are fears it might end up losing its current position too, given its relative coldness and quietness in the past few months. While Ripple and other coins continue to push for innovations and services towards mainstream adoption, Litecoin has not given any recent new announcements, updates, interesting features, or Partnerships that its users could look forward to.
That Tether (USDT) is currently is performing well, doesn’t seem to bolster the positivity around Litecoin. There are a number of reasons why Tether, presently in the eight position, would likely displace the former soon. For one, it is stable in nature, compared to the declining Litecoin. Secondly, it has a larger trading volume and circulating volume than LTC. With a trading volume of $2.17 billion compared to LTC’s $332.42 million, Tether is definitely one to watch.
It remains to be seen if the subsequent gap of $600 million between USDT and LTC, would have an impact on the displacement of the latter in times to come.

Related posts
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTETFNewsxbtusd

Bitcoin May Never Go Below $50k Once An ETF Is Approved, Declares On-Chain Analyst

Bitcoin may never drop below $50k asserts on-chain analyst Ki-Young Ju. But as usual, there are conditions that follow this possibility. In a tweet, Ju analyzed that Bitcoin could follow the same path that gold took in 2004 when the first…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTNewsxbtusd

Quarterback Star Tom Brady Breaks Internet After Showing Interest In Bitcoin

Tom Brady, the American athlete who is widely regarded as the “greatest” quarterback in NFL history is the latest celebrity to show interest in the world’s most valued cryptocurrency Bitcoin. Brady who has a massive Twitter following of 1.9 million…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTNewsxbtusd

Almost $200 Billion Worth Of Bitcoin Is Currently At Risk – Report Warns

A recently published 2021 crypto report by Opimas LLC, a finance-based management consultancy firm, has revealed that approximately 3,480,000 out of the world’s mined 18.5 million Bitcoin, stands vulnerable to attacks as a result of improper safekeeping. The 36-page report…