Tether (USDT)

Ripple’s price has surged in recent weeks, following a breakout above the significant $0.43 resistance level. However, it may be too early for the bulls to celebrate the end of the bear market, as warning signals are emerging. Technical Analysis By: Edris XRP/USDT Daily Chart: The price has risen almost vertically in the past few weeks, following a breakout above the $0.43 level and both the 50-day and 200-day moving averages, which are located around the $0.4 mark. These...

Weeks after the failure of a series of US banks as well as the Credit Suisse chaos, the crypto market has considerably recovered but the same cannot be said for a prominent stablecoin that has served as a backbone for DeFi trades – USDC. The confidence in Circle-backed stablecoin remains severely battered as investors continue to flee to Tether (USDT), the controversial stablecoin, in search of a safety net amidst the turmoil. USDC Outflow USDC’s market cap was down by over...

Ripple’s price has rallied violently over the past few days, breaking multiple significant resistance levels against both USDT and BTC. However, the price is currently struggling at a key level. Technical Analysis By: Edris XRP/USDT Daily Chart: XRP’s price has risen rapidly since breaking the $0.43 level to the upside and retesting it. Ripple is currently trading at around $0.54 per coin and has finally reached the key $0.55 resistance area. However, the price is seemingly...

The Kokomo Finance protocol has been found to be an elaborate exit scam after developers used wrapped Bitcoin to steal user funds worth $4M. According to reports, developers behind crypto lender Kokomo used Wrapped Bitcoin (wBTC) to perpetuate a $4 million exit scam. A CoinDesk report alleges developers pulled off the scam over the weekend after manipulating tokens to steal millions in user funds. The report further stated that these developers attacked the smart contract of wrapped...

Ripple’s price has broken above a critical resistance level on the XRP/USD paired chart, which could initiate a rally in the coming days. Yet, it could still be too early to state that the bear market is over. Technical Analysis By: Edris XRP/USD Daily Chart On the USDT paired chart, the price has broken above the 50-day and 200-day moving average lines, along with the critical $0.43 resistance level. The breakout comes after months of consolidation. However, the price is now...

Telegram has added a new feature enabling users to send each other the world’s largest stablecoin, tether (USDT). USDT runs on several blockchains, but for now, Telegram has added support for the stablecoin only on Tron. According to an update on March 22nd, USDT-TRON – TRC20 – has been added to the popular messaging app’s wallet function, thereby expanding its payment capabilities for buying and selling crypto. USDT is the third crypto-asset joining Bitcoin and The Open...

The banking sector could potentially undergo a much-needed revamp, but until then, investors appear to be scrambling for a safety net. As the traditional financial world is rocked by the Credit Suisse chaos and the failure of a series of US banks, investors have flocked to the largest stablecoin, Tether (USDT). The turmoil has once again helped the controversial asset extend its lead. Tether Market Cap Silicon Valley Bank (SVB), Signature Bank, and Silvergate Capital, once...

Jared Grey – the “Head Chef” (CEO) of the automated market maker Sushi Swap – is attempting to establish a $3 million legal defense fund after being subpoenaed by the Securities and Exchange Commission (SEC).  Grey declined to comment further on the ongoing investigations but said he and Sushi were cooperating with the agency.  In a blog post on Tuesday, Grey said that the new Sushi Dao Legal Defense Fund would cover “reasonable attorney’s fees” for core contributors who have...

Pushing on the new industry standard to boost transparency, OKX released its fifth proof-of-reserves (PoR) report. The latest edition demonstrated that the Seychelles-based crypto exchange holds clean assets worth $8.9 billion in BTC, ETH, and USDT. Data shows that OKX’s wallets have 138,405 BTC, 1,325,259 ETH, and 3,264,352,204 USDT against user balances of 134,289 BTC, 1,284,812 ETH, and 3,199,251,622 USDT, respectively. This proves that OKX is overcollateralized with a...

El Salvador’s government has launched another initiative repping its support for Bitcoin adoption and development of the broader network.This time, it’s a Bitcoin/ lightning developer training program funded by VC firm Fulgur and stablecoin issuer Tether.  As announced by El Salvador’s Bitcoin Office on Wednesday, the “CUBO+” program is an advanced Bitcoin engineering program that is several months long and offers credit and potential placement for those qualifying for the...