With all of the alleged Bitfinex – Tether controversy making the rounds once again, the dire need for alternative stablecoins is highlighted. Luckily for traders, numerous of those currencies exist already, albeit none of them seem capable of even rivaling USDT in terms of market cap. Depending on how the Tether situation plays out – with little to no changes remaining the plausible outcome – the following stablecoins could be capable of making a name for themselves once again.
When it comes to alternative stablecoins ranked by market cap, it quickly becomes apparent USD Coin is the only real rival Tether’s USDT might have at this time. Even so, USD Coin only has a market cap of $296.16m, which is not necessarily a good sign as of right now. While this is a relatively decent number, it is evident this currency lacks the “oomph” Tether has. With the current debacle in place once again, it remains to be seen if this situation will come to change over the coming weeks and months.