Tether Wins BNB’s Coin Spot As 6th Largest Coin

Tether wins Binance Coin’s spot on the largest cryptocurrencies coin list and won the 6^th place earlier today as the controversy still rises around the cryptocurrency and we read more about it in the latest altcoin news below.

The controversies around Tether have boosted the cryptocurrency to the sixth position on the world’s list of digital assets as Tether fires up to the printers once again, the traders wonder if this will lead to a sustained BTC increase above the 10K level. Tether continues to still make headlines for itself although many commentators that have highlighted the issues which suggest it’s for all bad reasons. The recent price moves have boosted USDT past Binance into the sixth place on the world’s list of most valuable cryptocurrencies but it seems like the traders have failed to view the move as making a significant level of legitimacy. Tether still continues to influence the broader market sentiment.

The crypto issuance still remains a huge factor that influences the entire market sentiment as Tether fired up the printers again in a month and according to the Coin Market Cap latest statistics show that the circulation supply levels stand at 4,055,445,372 USDT while the total supply levels currently stand at 4,095,057,493 USDT. The widely-questioned position in the market has been seen widely by the crypto traders on multiple fronts which gained traction after the controversial cryptocurrency changed to the way its value would be backed by some other underlying assets. After managing to reverse its claim to be back at 100% by the US dollar, many are now wondering what the crypto legitimacy might be impacted within the market at large.

The questions still remain whether Tether will impact BTC valuations because before the rallies happened the Bitcoin/Tether price charts established a strong support region above 9,260 but the RSI indicator pushes the moves into question given bearish divergence that is currently present on the daily charts which is why Tether wins the new position. According to the latest cryptocurrency news reports, the fundamental events could have a significant impact with the close proximity of historical support levels and the fundamental catalysts may have the potential to confirm and deny bearish divergences.