Top 5 Ethereum Competitors and Alternatives in 2024

2. Tether (USDT)

Market Cap as of April 14: $107.38 billion

Tether (USDT) is a stablecoin, which is pegged to the US dollar on a 1:1 basis. Tether (USDT) is often used by traders and investors to hedge against market volatility or to move funds between different exchanges. Tether (USDT) is available on multiple blockchain networks and is one of the top Ethereum competitors and alternatives in 2024.