Stablecoin Tether has just replaced XRP as the third-largest cryptocurrency and has become the second-largest altcoin behind Ethereum's Ether (ETH). Tether's USDT has just surpassed XRP in market capitalization, becoming the third-biggest cryptocurrency in the moments with a total market cap of 8.81 billions dollar .

Tether is  designed to always be worth $1 making it the best choice of traders .The primary purpose of tether is to provide liquidity and a hedge against the market volatility.

According to wall street journal 80% of all the bitcoin trading is done with tether due to its stable nature and as for company states that tether is fully backed with reserves in local bank means you can always exchange tether with US dollar while there are some controversies about the claim but it has been the top choice of trader for all the time.