Tether (USDT)

Stablecoin issuers now hold over $120 billion in US Treasury notes, becoming the 18th largest holder of US Debt and overtaking numerous nations. Out of the $120 billion, Circle holds about $29 billion and Tether holds a whopping $91 billion. The former holds short-dated US Debt, like repos, and the latter holds Treasuries. However, concerns begin to mount as demand for US Debt grows in the crypto industry and elsewhere, and the US needs to consider appropriate debt management measures....

On June 17, Tether CEO Paolo Ardoino announced aUSDT, a new synthetic dollar over-collateralized by XAUt, Tether’s gold-backed digital asset. In a post on X on June 18, industry analyst and stock-to-flow creator Willy Woo said it was “A genius business idea by Tether.” Tether’s USDT is currently earning on U.S. Treasury Bills, but now the firm can issue a stablecoin that earns on gold gains, he explained. This has greater potential for profits as, over the long term, gold...

Ethereum’s rally has come to a halt, as the price has failed to continue above the $4,000 level once more. However, not all hopes for a new bull run are lost just yet. Technical Analysis By TradingRage The Daily Chart The price has been decreasing in the last two weeks based on the daily timeframe of the ETH/USDT chart. This short-term downtrend has begun since the cryptocurrency has been rejected from the $4,000 resistance level once again. Currently, the $3,500 level...

Bitcoin’s price surged to $70,000 briefly this week but faltered soon after failing to sustain the momentum and took a sharp turn. At the time of writing, the world’s largest cryptocurrency is trading at just over $67,000. Still, with exchange supply dropping to December 2021 lows, data suggest that a bullish reversal could be in the offing. Bitcoin Scarcity on Exchanges According to Santiment’s tweet, bitcoin’s supply on exchanges has reached its lowest since December 2021....

Fiat-pegged stablecoins have grown in market cap over the past ninety days as they collectively witnessed $16 billion flow into their side of the crypto market. However, the past month has been relatively calm for the stablecoin economy. USDT’s (Tether) market cap has grown to $112.5 billion on June 8 from $101.18 billion in March. That is over $11 billion in the three months, with USDT representing 69% of the $16 billion that flowed into stablecoins. Its market cap barely rose over the past...

Following weeks of consolidation, Ripple’s price is finally showing signs of beginning a significant move. However, this is not good news, as the anticipated move seems to be bearish. By TradingRage The USDT Paired Chart Against USDT, XRP has been consolidating inside a symmetrical triangle pattern over the last couple of months since dropping below the 200-day moving average. On Friday, the market experienced a sudden drop. While the price has recovered more than half of its...

The largest stablecoin issuing company, Tether, has recently made a lot of investments in emerging crypto and artificial intelligence firms. These investments and the firm’s advancement beyond stablecoins show that the entity is keen on expanding its operations. Over the past few months, Tether has dipped its foot into other sectors like peer-to-peer communication, Bitcoin mining, renewable energy, and artificial intelligence. Tether’s Latest Investments XREX Group is the...

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CoinspeakerBitdeer Announces Up to $150M in Private Placement Financing During the pre-market trading, the shares of Bitdeer rose more than 10%, priced at $6.44. The movement of shares indicates the impact that the digital asset sector has on the traditional finance industry. Bitdeer Announces Up to $150M in Private Placement Financing

In May 2024, the stablecoin ecosystem rebounded, achieving a market capitalization of $161 billion, marking a 0.63% increase from the month’s outset. According to CCData, this marks the highest level since April 2022, following eight months of steady growth. Tether Dominates as Stablecoin Market Rebounds While the stablecoin market has been surging, its dominance slightly dropped from 7% in March to 6.07% this month. The fall was due to crypto assets recovering in price after...