Stablecoins, which make up a huge chunk of those steep fees, could all switch to Layer 2 for some relief, according to one industry expert. Yearn Finance founder, Andre Cronje, has suggested that USDC and USDT will soon be available on Layer 2 as stablecoins make the transition away from Ethereum. USDC and USDT will...Read More
Bitfinex and sister firm Tether moved to dismiss a Bitcoin manipulation lawsuit filed against them in October last year. The crypto companies said that the allegations are baseless. Bitfinex And Tether Call For Dismissal Of ‘Preposterous’ Lawsuit In October 2019, a group of bitcoin and cryptocurrency traders David Leibowitz, Benjamin Leibowitz, Jason Leibowitz, Aaron Leibowitz,...Read More
A new report indicated that East Asia remains the most active cryptocurrency market with the most significant number of daily transactions. At the same time, professional traders still account for most of the trading volume, while stablecoins, and especially Tether (USDT), have gained a massive market share. East Asia Dominates Crypto Trading Market According to...Read More
Ethereum’s network is on the brink of its highest congestion rate, while the transaction fees are still particularly high. Amid all of this, Tether has moved over 1 billion USDT from Tron’s network to Ethereum. Tether Moving 1 Billion USDT to Ethereum Earlier today, Tether, the company issuing the most popular stablecoin, USDT, announced that...Read More
Following what appears to be the actions of a single whale, the price of ETH skyrocketed to just under $450 according to the Uniswap v2 ETH/USDC price ticker in late trading on August 10. This represented an increase upwards of 15%. The trade involved a series of swaps totaling almost $18 million in USDT to...Read More
Demand for stablecoins has surged this year, mainly on the back of the DeFi sector, which has seen countless crypto earning opportunities arise. MakerDAO’s stablecoin, Dai, has just reached a milestone $400 million supply following the minting of a further $10 million. This 10 million DAI mint brings the total DAI supply to over 400...Read More
The United States Department of Justice (DOJ) has filed a complaint against an alleged cryptocurrency Ponzi scheme to forfeit over $7 million in Bitcoin and Tether. The administrator of the scam called the “Banana Fund” has used some of the raised funds for personal benefits, including purchasing a house. DOJ Against Banana Fund Ponzi Scheme...Read More
The most recent Bitcoin price surge may have triggered a serious FOMO wave amongst investors as data displayed the largest inflow of Tether (USDT) towards exchanges in eight months happened yesterday after BTC broke above $10,000 and aimed for $11,000. Tether Into Exchanges To Follow BTC FOMO? Bitcoin’s price finally broke above $10,000 a few...Read More
The continuous growth of the most widely utilized stablecoin Tether (USDT) has pushed its total market capitalization above the coveted $10 billion mark. On a monthly scale, the rise is even more impressive as it has doubled since March 2020. Tether Takes Over $10B Market Cap Tether, or as it was initially named – Realcoin,...Read More
Recent research has indicated that Ethereum has ‘blown past Bitcoin’ in terms of daily settlement value, which is a testament to how much economic activity has increased on the network. Ethereum Beats Bitcoin on Economic Activity Messari researcher, Ryan Watkins, recently posted his findings stating that a quarter ago, Ethereum had just about reached parity...Read More
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
