Tether (USDT) Stablecoin Surpasses Bitcoin (BTC) in 24 Hour Trading Volume as Market Recovers


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.

tetherusdtbitcoinbtctradingvolumecoinmarketcap

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.

coin metrics tether bitcoin volume

Coinmetrics

@CasPiancey in a tweet said:

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:

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.

Live Bitcoin (BTC) Price:

1 BTC/USD =$57,454.9680 change ~ -2.98%

Coin Market Cap

$1.07 Trillion

24 Hour Volume

$25.72 Billion

24 Hour VWAP

$58.3 K

24 Hour Change

$-1,710.98

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide