Tether (USDT) was launched back in 2014 and began trading in early 2015. Built to be backed by conventional world currencies, it aimed to be a popular Stablecoin for the crypto market. Although many Stablecoins are available, Tether is somewhat different, being designed by a company instead of a traditional network. There has been some controversy over the operations of this asset, but that hasn’t slowed it down in popularity.
Investors Are Hoping for A Big Year
The movement of Tether was quite volatile during the first half of 2019, not producing ideal returns for investors. But thankfully, it began to even out as 2019 drew to a close and continues to climb in 2020. Crypto enthusiasts around the world are hopeful that this year will bring unsurmountable heights for this Stablecoin.
As the world recovers from the COVID-19 pandemic, digital assets in the market are showing upwards movement. Considering this, Tether has been making its way upwards in the number of transactions processed worldwide. At the time of writing, the current market cap for Tether is at $9,214,304,061 USD, which ranks 3rd worldwide. There has been talk in the crypto community that it will overtake Ethereum (ETH) as 2nd before 2020 is over.
Tether Cryptocurrency as a Safe Haven
Stablecoins like Tether are an attractive asset for numerous reasons, more so lately with the fickle world economy. In the past, many investors have turned to more stable means of investments during times of turmoil, like economic collapse. When these large-scale events happen, tangible assets like gold have more value and do well in the market. Other digital assets like Stablecoins take off during these uncertain times, which help drive market prices upwards.
Investors do not want to be left out in the cold when global economies are inconsistent. Tether gives the public a secure way to invest and think in more long-term results for their portfolio. As the world losing faith in traditional banking institutions and turn towards digital currencies, Tether will reap the benefits. This is due to its ability to retain or increase value in the market during times of uncertainty.
What’s in Store or the Future?
While no one can accurately predict the future, one can make educated guesses on how things will turn out. As the world embraces technological advances, markets like digital currency begin to gain momentum as they gain popularity. The necessity for instant payments and online currencies become more apparent as the public turns to technology for daily tasks. 2020 could be the year of a cryptocurrency breakthrough, giving investors more viable options for growth and profit.
If you are looking for a sound cryptocurrency investment choice amid market fluctuations, Tether could be the answer. There are good reasons why this Stablecoin continues to be a popular option among investors worldwide. Only time will tell if Tether will overtake Ethereum and move into 2nd place for overall market capitalization in 2020. If you are open to diversifying your portfolio with a Stablecoin, Tether could be your best bet.