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Tether Surpasses XRP to Become the Third-Largest Cryptocurrency

▪ The market capitalization of Tether (USDT) surpassed that of XRP this week.
 ▪ The dollar-pegged stablecoin is now the third-largest cryptocurrency.
 ▪  Macro factors led the demand for USDT higher, including traders’ flight-to-cash amidst the fast-spreading novel Coronavirus pandemic.

Tether has replaced XRP, the native token of the San Francisco-based blockchain payment firm Ripple Labs, to become the third-largest cryptocurrency by market capitalization.