As part of the program, developers can apply for up to $60,000 in grant funding to support their projects.
Ki Young Ju, CEO of CryptoQuant, predicts that Bitcoin will likely evolve into a widely accepted “currency” by 2030, aligning with the original vision of its pseudonymous creator, Satoshi Nakamoto. Ju shared this outlook in an Oct. 24 post on X (formerly Twitter). ‘Declining volatility’ Ju pointed out that Bitcoin’s mining difficulty has surged by […]
The post CryptoQuant CEO predicts Bitcoin to mature into an accepted global currency within a decade appeared first on CryptoSlate.
The U.S. central bank would be conflicted, because stablecoins compete with the Fed's payments infrastructure and with potential CBDCs.
The business plan for WBTC is to increase the outstanding amount by five to 10 times what is now, just under $10 billion – using a geographically diversified custodial setup that might be more appealing to buyers outside the U.S
The US-based consumers’ adoption of stablecoins is facing a slowdown in 2024 even when there is increasing activity in Bitcoin that rose in popularity following the launch of the spot Bitcoin exchange-traded funds. Related Reading: Survey: Trump Leads Harris By 18%, But His Token Project Tells A Different Story The graph below shows a decline […]
Tether’s USDT, the largest crypto stablecoin, recently celebrated its 10th year in the industry. The company’s growth has been impressive, thanks to its steady user base, holdings that include $97 billion in US government bonds, and its plans to partner with US law enforcement agencies to strengthen its brand. Related Reading: Survey: Trump Leads Harris […]
According to the latest on-chain data, liquidity in the cryptocurrency markets has reached an all-time high. Here’s the implication of the rising liquidity on the price of Bitcoin and its future trajectory. Stablecoin Market Cap Hits New Highs — Impact On Bitcoin Price In its latest report, CryptoQuant revealed that liquidity in the crypto market […]
According to a crypto analyst, Bitcoin (BTC) may be heading towards a capitulation due to tightening on-chain liquidity. However, this capitulation could be followed by a “full bull” market. Bitcoin Headed Lower Before Higher In a detailed thread on X about BTC price analysis, crypto analyst Cole Garner stated that capitulation might be on the horizon for the leading digital asset. Garner attributes the potential downturn to tightening on-chain liquidity. Related Reading: Bitcoin ETF Options Set To Supercharge Price Volatility, Expert Warns Tracking global liquidity from central banks worldwide, the analyst said he sees a “buy signal” for digital assets. However, more downsides for cryptocurrencies could come before liquidity-enhancing measures undertaken by central banks buoy them. In his analysis, Garner stated that “if China doesn’t ring that bell, the Fed or Japan should do the job,” likely pointing toward the recent economic stimulus injected by the Chinese central bank in a bid to boost the country’s grim economic outlook. Garner referenced the recent economic stimulus from China’s central bank but noted that this week, the People’s Bank of China (PBoC) refrained from injecting additional liquidity, tempering expectations for risk-on assets like crypto. Garner emphasized the low supply of stablecoins compared to the beginning of October 2024. Analyzing the “Bitfinex grail,” which is essentially the total supply of two leading stablecoins on the exchange – USDT and USDC – Garner noted its quarterly rate of change is declining, potentially leading to lower prices for digital assets in the short term. Despite these concerns, Garner pointed out that Bitcoin has printed a higher high on the 8-hour chart, and the market structure remains bullish. Even if BTC dips to its range lows in the high $40k range, the overall price action is still considered positive. Garner suggested that should BTC hit its range of lows, traders and investors can consider buying at that price. Even if they are low on liquid cash, they must ensure they don’t get spooked by the market and panic-sell their current holdings. Another crypto analyst, Ali, seemed to echo Garner’s outlook, stating that Bitcoin is stuck in a descending parallel channel and runs the risk of sliding to channel lows of around $52,000. The analyst stressed that BTC must overcome the $66,000 level for a bullish breakout. Can Bitcoin Hit New All-Time Highs In 2024? With the remainder of 2024 ahead, Bitcoin bulls anticipate interest rate cuts by the US Federal Reserve (Fed) to fuel a new rally. However, BTC must clear several hurdles to sustain its bullish momentum. Related Reading: Bitcoin’s Puell Multiple Signals A Bullish Surge: Could A New ATH Be Near? Crypto analyst Carl Runefelt recently noted that BTC must overcome the $64,000 resistance level to trigger a rally in Q4 2024. Failure to break through this price level could lead to further downside. Further, Bitcoin’s price finally turned green in October, giving bulls hopes of another “uptober” for the asset, which was marked by significant price increases. BTC trades at $60,711 at press time, down 2.4% in the last 24 hours. Featured Image from Unsplash.com, Charts from X and TradingView.com
The European Securities and Markets Authority declined to disclose whether USDt is “noncompliant” but said it is working on solutions to issues in the framework.
The Donald Trump-backed crypto platform, World Liberty Financial, wants to run as an instance on the DeFi protocol Aave.
The news comes amid the company’s 10-year anniversary celebration.
Tether, which is the largest issuer of stablecoins, has not managed to snag the necessary e-money license in the European Union.
Institutional inflows, while stabilizing, haven’t overcome whale sell-offs and massive token unlocks driving down Bitcoin prices.
Rising stablecoins in Sub-Saharan Africa are transforming the financial landscape, providing a lifeline to millions of desperate individuals struggling against instability in their economies. According to recent reports, stablecoins now make up 43% of total cryptocurrency transactions in this region. These are closely associated with currency devaluation and inflation that has driven most individuals and […]
Recent activities include minting significant amounts of RLUSD, suggesting the testing phase might be wrapping up or moving into a more active phase of development.
Both Robinhood and Revolut are reportedly considering issuing their own stablecoins as the industry continues to expand.
Hong Kong emerged as the fastest-growing Eastern Asian country in terms of global crypto adoption, with 40% of the region’s value received in stablecoins.
Tether (USDT), the world’s largest stablecoin and the third largest crypto in market cap, has asserted its dominance in the cryptocurrency market and is now close to achieving a significant milestone. Recent data shows a massive influx of money into the crypto industry in the past week, with over $1 billion going into stablecoins. Related Reading: Solana Jumps 10% As Fed Eases Rates, Analysts Eye Even Higher Gains Naturally, most of this inflow has gone into Tether (USDT), pushing its market cap closer to an unprecedented $120 billion. Tether (USDT) Leads The Stablecoin Market Stablecoins are one of the innovative applications of blockchain technology. Their use cases have grown over the years from trading other cryptocurrencies to a growing use in lending platforms and payments for goods and services. The stablecoin market has witnessed massive growth since the beginning of the year. This growth has been largely driven by increased investments in the crypto industry since the beginning of the year, contributing to their adoption. According to data from IntoTheBlock, the stablecoin market had a total market cap of $122 billion in October 2023. However, the bull run since then has pushed the total market cap to over $169 billion in September 2024, representing an increase of 38.5%. Furthermore, data shows that the inflow has increased by 1.71% from last month. At the helm of the stablecoin market is Tether, which has the largest share of the market cap. As of this writing, Tether’s market cap sits just shy of the $120 billion mark, with a consistent flow of new capital pouring into the stablecoin. Particularly, Tether currently has a market cap of $119 billion, representing a 70.4% stake among all stablecoins. USDC, the second-largest stablecoin, comes in at a current market cap of $35.88 billion. This growth has been largely due to USDT’s ability to maintain its value pegged to the U.S. dollar over the years, making it an attractive option for traders seeking stability amid market turbulence. What Lies Ahead For Tether And Stablecoins? The influx of capital into the stablecoin sector highlights the growing interest in stable digital assets, especially with growing concerns of inflation and the weakening of fiat currencies in developing countries. At this rate, Tether dominance among stablecoins is set to keep growing. Just last week, the Tether Treasury minted $1 billion USDT on the Ethereum blockchain and another $100 million USDT on the Tron blockchain. Interestingly, other lower market cap stablecoins have also been benefiting from this interest surge in stablecoins. One of these is First Digital USD (FDUSD), whose market cap has seen an increase of 47% in the past 30 days and now stands at $2.94 billion. Related Reading: Catizen (CATI) Soars 10% Following Multiple Exchange Listings Adding to this momentum is Ripple, the company behind XRP. Ripple recently announced plans to enter the stablecoin space with its Ripple USD (RUSD) stablecoin with plans to connect global financial firms and institutions. Given Ripple’s established presence in the global banking sector, RUSD is expected to experience significant growth after its launch. Featured image from Pexels, chart from TradingView
Tether’s market share has surpassed 75% of the entire stablecoin market, fueling concerns over the stablecoin giant’s influence over the crypto industry.
According to veteran trader Peter Brandt, the United States dollar has lost over 90% of its value since the 1950s due to inflation.
According to one analyst, Tron, a popular smart contracts platform and a stiff competitor of Ethereum, could be one of the most important layer-1s. Based on his assessment, the platform now serves more as a transactional layer, similar to Bitcoin. Tron Leads In P2P Stablecoin Transfers While the network was first known for hosting gaming […]
Trillions of dollars will flow into Web3 once the details of the Internet of Contracts are worked out.
Crypto-friendly Revolut is said to be quite far along in creating its own stablecoin, according to two people familiar with the plan.
CEX.io’s collaboration with MoneyGram and Stellar offers users expanded cash-in and cash-out options through USDC conversion.
Donald Trump said in a video posted to X that his World Liberty Financial crypto project would launch Sept. 16.
Discussions about another major rally for Bitcoin in this cycle have increased significantly within the space due to heightened volatility in the market lately. However, market experts are signaling that the next bull run for BTC might be on the horizon, driven by multiple crucial factors such as growing institutional interest and on-chain activity. Is […]
Sentiment is somewhat bearish about the near-term outlook for bitcoin, the bank's consumer survey showed.
Considering the recent trend in the cryptocurrency market, a crypto expert claims that the market is projected to experience frustrating and erratic price movements in the short term as volatility and uncertainty continue to plague the sector. This projection suggests that the market may become more unpredictable and unstable without significant triggers, hindering both short-term […]
Ripple's chief legal officer Stuart Alderoty says the term is “fabricated” with no legal basis.
Recently, Brian Armstrong, the chief executive of Coinbase, gave a future view on cryptocurrency payments as a means of transaction. He went ahead and predicted a significant growth influenced by stablecoins. Related Reading: $2 Billion Market Cap: Tokenized Treasuries Register Explosive Growth According to him, crypto payments will go mainstream this decade because of the […]