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For a short while yesterday, the Stethercane Tether (USDT) hit 4th to position by market capitalization in the cryptocurrency charts. Today Bitcoin (BTC) and other altcoins are showing green. EOS is back in 4th place with a sudden increase of 21%, and Stellar (XLM) is now in 5th position with a price increase close to 9%. At one point, it appeared that investors were selling off their statutory holdings with some taste.
Tether's market capitalization drops to $ 1.85 billion before increasing:
Given the considerable controversy surrounding Tether and the rise of many other stablecoin, his recent performance is remarkable. Tether's market capitalization has lost around $ 700 million in recent months, but the currency has also reached 5th to position by market capitalization also last week.
While Tether is being examined by researchers for its involvement in the 2017 Bitcoin price boom, regulatory-supported stablecoins such as the Gemini Dollar (GUSD) and Paxos Standard Token (PAX) have gained popularity.
Paxos, like the Gemini Dollar, has received approval from the New York Department of Financial Services (NYDFS). The market capitalization of PAX has also decreased for some time today before recovery. It's a similar story with the new stablecoin TrueUSD (TUSD):
Although we are not saying that the market is still recovering, it is good to see that the volumes of trade are increasing rather than decreasing. It seems that investors have stepped out of some of their safest stable equilibrium and have returned to the most volatile currencies.
Today EOS is witnessing the healthiest performances of the top 20 coins, but there is still a clear reason behind today's rise. However, the blockchain ecosystem is witnessing certain EOS development activities. There is currently a three-week EOS workshop and a hackathon underway in India and the EOS Global Hackathon in Cape Town, South Africa, is just over.
The GeneOS teams have been selected as the best winners of our marathon #eoshackathon series at the Gran Finale at the start of this month. We reached them immediately after the judges announced their decision. https://t.co/DaZkmkNSof
– Block.one (@block_one_) December 17, 2018
EOS also saw an increase of 16% last weekend and is doing well as in all current market problems. It could be a next choice for Coinbase to add to its platform. Like the recent Waves performance, EOS price activity could be a sign of confidence in the underlying EOS blockchain technology.
Click here to see the EOS live price table.
Shutterstock foreground image.
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