With a roughly 10% increase to its market capitalization, Tether (USDT) has shifted to the fourth slot in the crypto market cap rankings.
The repositioning can be attributed more to the downfall of other cryptocurrencies than it can to increased demand for Tether or expansion of its market cap. At $2 billion, it is about 20% of third-place Ethereum. Combined, the top three (Bitcoin, Ripple/XRP, and Ethereum) make up $70 billion of the current $112 billion cryptocurrency market capitalization.
Former number four EOS dropped by over $200 million, or 10%, over the past 7 days.