Bitcoin (BTC), the cryptocurrency that is considered as the largest digital currency and atop the mountain of crypto assets, though true to the title, Tether (USDT), another digital asset has beat the ‘King Coin’ in its 24 hour trading volume.

In spite of the massive bull run the Bitcoin (BTC) market experienced recently, Bitcoin, the largest cryptocurrency still fell short when matched against Tether (USDT).

Tether (USDT) has a 24 hour trading volume of 29 billion USD while BTC currently has a volume of 27 billion USD, that is a whopping $2 billion difference.

Image from CoinMarketCap

Tether Legal Battle

Tether, though in a legal tussle against US regulators, might be out of the woods due to the recent New York Supreme Court judge's motion filing.

This lag In trading volume of Bitcoin, despite its huge popularity, could be due to the fact that the top stablecoin Tether is used by most top crypto exchange platforms and also Tether’s market cap which is above that of Bitcoin.

Tether New All Time High in Trading Activity

Since USDT is listed on top cryptocurrency exchanges, it serves as a base pair for most digital assets. Because of this massive adoption of Tether, on the 16th of May 2019, it hit an all time high transaction count of 65.89 thousand.

Coinmetrics

@CasPiancey in a tweet said:

You wanted Tether to what?? Stop what?? Sorry NYAG, I can't hear you over our printing machine and servers distributing counterfeit coins!" pic.twitter.com/tKBmDBEhPf

— Giancarlo Van der Velde Potter III (LLC) (@CasPiancey) May 19, 2019

Also adding in:

“For days, more Tethers have been traded than Bitcoin. Wrap your head around that: despite an injunction, despite being owned by Bitfinex, despite not being backed 1-1, more people are buying and selling Tethers than Bitcoins. lol”

Another Twitter user,@c4s88715619, tweeted:

When Tether is nr.1 coin, binance and bitfinex control more than 50% of the market. No wonder, they will push the price as high as possible, for them it is a verry good trade: " i give you monopoly money and you give me your wealth". And this is called :"decentralisation" pic.twitter.com/5DA3O3oDXf

— crypto plague (@c4s88715619) May 19, 2019

Bitcoin’s price is $57,454.97 BTC/USD exchange rate today. The real-time BTC market cap of $1.07 Trillion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $25.72 Billion and live coin value change of BTC -2.98 in the last 24 hours.

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