Bitcoin (BTC), Ehtereum (ETH), and Tether (USDT) are now leading the crypto market amid the Coronavirus crisis. These three digital assets showed they are ready to offer different services and solutions to crypto holders and users. While Bitcoin continues to be the largest and most popular, Ethereum moves forward with the Decentralized Finance (DeFi) market and Tether continues to grow in terms of valuation.
Bitcoin, Ethereum and Tether Lead the Market
In the last few months, there have been three virtual currencies that have been expanding and moving forward. BTC, ETH and USDT are currently the three largest in the world and each of them are offering different services and solutions to crypto holders and users in the industry.
According to Glassnode Compass, Bitcoin has been in a consolidation period that could continue with a new bull market for Bitcoin. At the same time, they show that there has been a bullish trend in terms of on-chain activity for Bitcoin.
At the same time, Glassnode reported that 61% of Bitcoin haven’t moved in an entire year. This is the highest point since the last bull market, which could indicate holders are still not selling their coins despite Bitcoin being close to $10.000.
In terms of Ethereum, the virtual currency has also been growing due to the decentralized finance expansion. This market is becoming increasingly popular among the community and it shows it is here to stay despite some issues that DeFi could still face.
Ethereum, compared to other large digital currencies such as XRP, didn’t fall in recent months, which shows the digital asset is certainly active and attracting new users in the space. ETH became the main digital asset to be used in the DeFi market and this is expected to continue in this way in the coming years.
Meanwhile, Tether, which is a stablecoin, has recently surpassed $10 billion market valuation as new USDT were printed. This stablecoin has been expanding in the last years as the crypto market moved forward. The interesting thing is that despite the bear market in the last years and the lower interest for virtual currencies in recent times, USDT has shown it is here to stay.
Users are demanding USDT for the DeFi market and to replace the traditional U.S. dollar. Considering it is very easy to hold and transfer Tether, users prefer the solutions it is currently offering. Moreover, as the demand for U.S. continues to grow around the world, we may see Tether expanding as well.