Search Results for: USDT

“Binance expands its zero-fee trading to Argentine, Brazilian, and South African currency spot trading pairs. This move is seen as an attempt to increase trading of prominent cryptocurrencies against mentioned fiat currencies, despite confronting legal and regulatory hurdles, especially in the U.S. and Europe.”

“An ominous Bitcoin price metric that previously resulted in a -25% FTX crash is repeating, centred around the BTC rate of $25,726. Market spectators prepare for a possible drop to $23,000. The Short to Long-Term Realized Value (SLRV) ratio indicates potential sales growth in ‘older’ Bitcoins, urging caution among investors. Meanwhile, stablecoin Circle’s USD Coin (USDC) now supports smooth transitions to Base and Optimism networks.”

“Tether, one of the world’s leading buyers of US Treasury bills, has increased its holdings to $72.5 billion. Despite the complexities expansion brings, this represents the growing mainstream acceptance of digital currencies and their incorporation into the traditional financial world.”

The latest crypto market analysis shows a mixed performance with Bitcoin exhibiting a marginal loss and Ethereum showing a lack of demand. Despite obstacles, Bitcoin’s dormant supply hit a new high, whereas Binance Coin depicts a bearish trend. Contrastingly, XRP attempts a strong rebound, while Cardano and Dogecoin display indecisiveness and cling respectively to specific support levels.

The report by YouGov and ConsenSys confirms Nigeria’s emergence as a leading crypto-savvy nation, beating the US and several European countries in digital asset knowledge and intended investment interest. With a crypto awareness of 99% among Nigerians, up to 70% comprehend the value and mechanisms of blockchain technology. A significant 90% of participants expressed pan to invest in digital assets within the year, despite the national bank’s unclear stance on crypto.

IOTA, a cryptocurrency, has recently been showing modest growth, sparking speculation about potential significant investments. Despite challenges, technical indicators hint at continued investor interest. Meanwhile, new entrant Launchpad XYZ aspires to simplify Web3 processes. However, careful evaluation is advised due to inherent high risk in cryptocurrency investments.

“Rollbit Coin (RLB) has soared over 800% since July, hitting an all-time high of $0.2131 on August 2. However, its consistent resting at the 20-day EMA and dampened trading volume may imply faltering bullish momentum. Meanwhile, Launchpad XYZ, a Web3 ecosystem, aims to bridge cryptocurrencies, gaming hubs, decentralized exchanges, and more, offering long-term engagement opportunities for crypto enthusiasts.”

“Emerging from traditional U.S. dollar-pegged digital assets is TRYB, a new stablecoin backed by the volatile Turkish lira. Issued by the Turkey-based fintech company BiLira, this Ethereum-based stablecoin offers a unique transactional instrument for users, navigating around fiat counterparts’ volatility. However, suspicions surround its operations, and the stablecoin’s path is marked with both opportunities and skepticism.”

Nigeria’s Patricia crypto exchange introduced its new Patricia Token (PTK), aiming to manage users’ debts, likening it to an IOU system. However, the token’s introduction following a security breach in 2023 has left users concerned and skeptical.

Binance Options is set to introduce “T+3” daily call and put contracts related to BNB, a cryptocurrency intrinsically linked with the exchange itself. Essentially, these options can be traded two days prior to expiry, initially offering a lifetime of three trading days from their introduction, promoting increased flexibility in cryptocurrency markets. This move also reflects Binance’s positive outlook towards the future of cryptocurrency markets.

“The Federal Reserve’s interest rate hikes till 2024 prompted a dip in Bitcoin and altcoins, yet U.S. equities markets recovered impressively. Meanwhile, Pantera Capital predicts Bitcoin to reach $35,000 by April 2024. Ethereum and Binance Coin face resistance, while Bitcoin, tanking below $24,800, could trigger a sell-off.”

This article explores the influences of Justin Sun, Sam Bankman-Fried, and Do Kwon in the cryptocurrency industry. It examines their methods, impacts and the potential consequences of their actions. Comparing Sun’s Tron to Kwon’s Terra, the article questions whether Sun’s potential downfall could cause even greater harm.

“Tether maintains its dominant position in the stablecoin market despite competition and regulatory challenges. With total assets at $86.1 billion, it demonstrates economic robustness, outpacing competitors such as USD Circle, and shows growing appeal among investors while weathering recent regulatory fines and market events.”

“Tether’s market capitalization stands at $86.1 billion, with total assets exceeding liabilities, signifying stability and dominance over its competitors. Despite facing regulatory scrutiny and skepticism, Tether remains popular among investors due to its transparency and surplus reserves.”

“Tether maintains a $3.3 billion liquidity cushion across 15 blockchain ecosystems, bolstering its stablecoin ecosystem. However, concerns about the currency’s liquidity and asset backing persist. Other Tether stablecoins lack the same liquidity cushion, failing to sustain the 1-1 peg in crisis times.”

“Despite a bearish market, multichain wallet Exodus reported Q2 2023 revenue of $12.4 million, a modest 4% dip year-over-year. Notable was a strong fiat onboarding revenue increase, up 220% from 2022. High trade volumes came from Bitcoin, Tether and Ether. Strikingly, Exodus alleviated some financial stresses by drastically cutting administrative and marketing budgets by 65%, resulting in administrative expenses shrinking to 32.2% of revenue.”