Today, the ranks in the cryptocurrency market have shifted once again with the famous takeover of Ethereum [ETH] by XRP, Bitcoin Cash [BCH] by Stellar [XLM] and many others throughout the year. Now, it is Litecoin [LTC] whose market cap has been surpassed by the top stable coin, Tether [USDT] after XLM raced LTC earlier this year.
The shift has taken place mainly because the previously standing 7th largest coin, Litecoin experienced a severe plunge in its market cap today, pushing it down by one spot.
During the day, the market capitalization of the coin touched as high as $1.9 billion but saw a gradual wipeout of more than a million dollars to dive down to $1.7 billion level. At the time of writing, Litecoin is trading at a depreciated price of $30.4 with a market cap of $1.81 billion. The 24-hour trading volume is recorded at $389.8 million.
As for Tether, the stable coin has not seen much change in its figures and owes its victory solely to Litecoin. At the beginning of the 24-hour cycle, the token was trading at $0.9 with a market cap of $1.84. Since then, USDT has been forming fluctuating patterns on the price chart.
At press time, the cryptocurrency was trading at $1 with a market cap of $1.85 billion. In the past 24 hours, it has seen a growth of merely 0.14% where the total trading volume was recorded at $2.75 billion.
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Small victory for iFinex, Monero responds to Reuters report and more
Crypto News – 23 May – Small victory for iFinex, Monero responds to Reuters report and more
— AMBCrypto (@CryptoAmb) May 23, 2019
Crypto News – 23 May
Another banks drops crypto-project: After Dutch multinational bank, ABN AMRO, Rabobank announced that it is dropping plans to launch its own crypto-project
Read more at https://bit.ly/2HN7l1P
SCB Thailand on XRP adoption: Thailand’s Siam Commercial Bank asked users to remain patient and wait for an announcement about integrating and adopting XRP for transfers
Read more at https://bit.ly/2YK3Lws
Mark Yusko on Bitcoin: Morgan Creek Capital’s Chief Investment Officer is in the news after he claimed that owning Bitcoin was a great way to diversify one’s portfolio
Read more at https://bit.ly/2Eukv2O
Binance Coin on adoption spree: BNB can now be traded on Tesla using two wallets
Read more at https://bit.ly/2YJn5cY
Binance Research on Facebook: New research by Binance claimed that the entry of Facebook in the cryptocurrency market will define market’s future growth drivers
Read more at https://bit.ly/2VKx8N1
Binance’s IEO performance: Binance led the IEO performance charts as new data revealed that the exchange’s Launchpad token sales outpaced competing platforms
Read more at https://bit.ly/2JX9gUg
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