Tether (USDT)

Stablecoins have witnessed significant growth this year. Among them, USDT remains a leader, but other ones, such as Circle-backed USDC, are also seeing considerable activity. As such, USDC’s recent deposits to centralized crypto exchanges could signal investors buying the dip amidst several market corrections in recent weeks. USDC Deposits Surge According to IntoTheBlock’s Head of Research, Lucan Outumuro’s latest findings, USDC’s net inflow into centralized crypto exchanges...

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A popular New York-based crypto exchange, Uphold, announced the delisting of six stablecoins in response to the upcoming MiCA regulation in the European Union, including Tether (USDT) – the largest of the cohort. This decision aligns with the Markets in Crypto Assets (MiCA) regulation, which fully takes effect on June 30th, 2024. Passed into law in May 2023 and partially enacted a month later, MiCA requires all digital assets to comply with its extensive regulations. However,...

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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...