A popular cryptocurrency researcher recently pointed out that the stablecoin issuer Tether has blacklisted 39 Ethereum-based addresses holding over $46 million of USDT. Interestingly, the information surfaced soon after another report indicating that the CENTRE Consortium has admitted doing the same to a USDC address with $100,000 worth of the stablecoin. $46M In Stablecoin Addresses...Read More
A New York state court ruled that the exchange, and companies connected to it, must face court claims according to Bloomberg. Last year, New York Attorney General Letitia James accused Bitfinex of hiding the loss of more than $850 million in client and corporate funds. Panama Firm in The Spotlight The firms in question have...Read More
A recent survey compiled by the cryptocurrency exchange BitMax indicates that the Japanese are quite fond of Ripple (XRP). Having to choose which their favorite digital asset is, most participants placed XRP close to Bitcoin and well above Ethereum. Japan Adores Ripple (XRP) The popular Japanese exchange posted the survey on Twitter to check among...Read More
Recent data indicates that Bitcoin transaction fees have been decreasing after the post-halving peak, while Ethereum fees are on the rise. As such, the total amount in fees spent on the Ethereum network has surpassed Bitcoin’s, and the gap continues to grow. The “Feepening” Ethereum Vs. Bitcoin According to information from the cryptocurrency data company...Read More
Bitfinex has responded to the latest amendments in the ongoing class-action lawsuit leveled against Bitfinex and Tether, calling the entire case, “baseless.” Bitfinex/Tether Denounce “Baseless” Lawsuit General Counsel for Bitfinex, Stuart Hoegner, labeled the lawsuit an “unproven conspiracy theory.” He said in an official company announcement on June 4: “The plaintiffs’ allegations remain untethered to...Read More
Recent data revealed that the number of Tether (USDT) transfers to cryptocurrency exchanges had reached an all-time high. Interestingly, this preceded the latest price increases within the cryptocurrency market. USDT Goes To Exchanges According to the data provided from the monitoring resource company, GlassNode, the number of Tether transfers to exchanges has been surging in...Read More
Upon printing billions of fresh USDT in the past few months, the most widely adopted stablecoin has become the third-largest cryptocurrency by market cap. Tether has now surpassed Ripple (XRP) with its nearly $9 billion market capitalization. In the meantime, Ripple, which was among the top three cryptocurrencies for the past years, had seen its...Read More
A new analysis implies an inverse correlation between the price of Bitcoin and the total supply of USDT on cryptocurrency exchanges. According to it, the declining amount of Tether sitting on exchanges could soon propel another increase in BTC’s price. Bitcoin’s Price Related To USDT On Exchanges? New data compiled by the cryptocurrency monitoring company,...Read More
Tether, the issuer of the dollar-pegged stablecoin USDT, is in the limelight again as the company’s treasury minted fresh USDT worth more than a billion dollars in a single month. Tether Mints 1.6B USDT in April. From April 1, 2020, to April 30, accumulated records from Whale Alert, a platform that tracks large crypto transactions...Read More
Stablecoins issuance is not artificially inflating the prices in the cryptocurrency market, despite some controversial beliefs, suggested new research on the matter. At the same time, the paper acknowledged their vital role in the digital asset field and predicted that it’s only prone to grow in time. Tether Do Not Inflate The Crypto Market Last...Read More
In brief: The Coronavirus crash of mid-March has resulted in a lot of crypto traders being cautious. The dominance of stablecoins is proof that they are waiting for favorable crypto conditions to get back to trading. Staking crypto on the various exchanges has provided an alternative to trading and/or storing value in stablecoins. The Bitcoin...Read More
The total value transferred on the Ethereum network reached full parity with Bitcoin last week. It’s mainly due to the increasing role of stablecoins in the market as they are responsible for 80% of all transactions on the Ethereum blockchain. Ethereum Network Transfer Value Parity With Bitcoin A publication revealed by Ryan Watkins, a researcher...Read More
The number of circulating Tether (USDT) coins now exceeds 6 billion. Tether, and most stablecoins, have been continuously minting new coins to cope with the growing traders’ demand in times of high volatility and uncertainty in the cryptocurrency market. Over 6B USDT In Circulation The past month was especially turbulent in terms of volatility, to...Read More
Over $1 billion worth of stablecoins is currently stored on certain cryptocurrency exchanges. Such an extensive amount sitting on the sidelines begs the question if traders are simply waiting for a definitive bullish sign to reenter the market. Over $1B Worth Of USDT and USDC On Exchanges As Cryptopotato reported earlier this month, most stablecoins’...Read More
In brief: In the last week, two prominent crypto exchanges have launched Bitcoin USDT perpetual contracts. They include Bybit and KuMex (KuCoin’s derivatives platform.) Tether (USDT) is ranked 4th according to market cap. Its website states the company has $6.229 Billion in assets. Trading of Bitcoin futures contracts has become more popular as crypto traders...Read More
So far, the past month had seen some of the worst days in Bitcoin’s price history. Following the emerging coronavirus crisis, Bitcoin plunged from a high of over $10K in mid-February, to a current low of $3,600 reached March 12. Since then, the price had recovered to the $6,000 area, but March is not yet...Read More
Bitcoin’s total supply gets distributed among more addresses as its network matures over time. At the same time, some notable altcoins have up to 95% of their total supply held by several large addresses. This information came from a report gathered by the popular monitoring resource – coinmetrics. By examining numerous variables of data, the...Read More
Tether, the company behind the most widely-used stablecoin, has minted over $60 million worth of USDT. It’s interesting to see if this will have any positive impact on Bitcoin’s price, given the fact that the infusion comes right after BTC surged upwards of $700 in 24 hours. 60,000,000 New USDT Minted Earlier today, the popular...Read More
One of the world’s largest cryptocurrency exchanges, Huobi, is adding a new service for its Argentinian branch. Dubbed Huobi Argentina, it now allows customers to directly exchange Argentine Peso (ARS) for Bitcoin and Tether (USDT) and vice versa. Huobi Argentina Fiat Gateway In September 2019, the Singapore-based cryptocurrency exchange announced the opening of Huobi Argentina....Read More
The Hong Kong-founded popular cryptocurrency exchange, Bitfinex, has recently launched the newest version of its mobile app, which comes with Bitcoin deposits utilizing the Lightning Network. The update for the mobile app comes less than two months since the exchange added support for the Lightning network to its web platform. The Lightning Network Comes On...Read More
Stablecoins now have a larger share of value transferred on the Ethereum network than its native cryptocurrency – ETH. Even though the continuously increasing interest towards stablecoins appears as a concern to some, Changpeng Zhao believes that they are still needed for mass adoption. Stablecoins’ Flip On The Ethereum Network Yesterday, new research by Messari,...Read More
Tether, the issuer of the popular stablecoin USDT, has now launched a new type of commodity-backed token pegged to gold. At the time of this writing, the new token will be issued on the networks of Ethereum and Tron. Tether Launches Tether Gold (XAUt) According to a recent announcement, Tether, the company behind the most...Read More
Pornhub, the popular adult website, has updated its payment methods and has added Tether (USDT) as an option. Just months after PayPal stopped supporting the platform, the cryptocurrency world introduces a viable alternative. TRON and USDT On Pornhub The adult platform announced that it had added the most-widely used stablecoin Tether (USDT) as a new...Read More
Since Tether’s (USDT) migration to other networks beside the BTC-based Omni protocol, significant shifts have taken place seeing the heavily-printed stablecoin rise to prominence also via Ethereum’s ERC20 standard and Tron’s TRC20 implementation. Ethereum-based USDT supply currently sits at over 2.2 billion tokens, while the Omni equivalent stands at around 1.5 billion. The Tron network...Read More
In spite of its many controversies, Tether (USDT) still remains one of the best-traded cryptos in the world, with its market cap reaching its all-time high at $4 billion dollars. Tether has seen some rapid growths in terms of market cap, which has doubled since January and placed the coin in 6th position. But what...Read More
At the wake of an increased patronage for stablecoins, Tether adds yet another stablecoin to its repository, unveiling that this new ‘CNHT’ stablecoin would be tied to the offshore Chinese Yuan. Tether – the foremost yet controversial distributor of stablecoins recently announced the launch of a new stablecoin. This new cryptocurrency tagged ‘CNHT’ is pegged...Read More
The New York Supreme Court ruled that the matter between the state’s Attorney General and iFinex, the parent company of the exchange Bitfinex, may continue. The New York Supreme Court ordered the New York Office of the Attorney General (NYAG) to process with their investigation and prosecution of iFinex, the parent company of cryptocurrency exchange...Read More
