“Cryptocurrency transactions are not anonymous; they are the most traceable and trackable assets,” Tether CEO Paolo Ardoino said in April.
Tether's market cap has declined by over 1% this week, the steepest drop since the crash of FTX in November 2022.
The network now holds approximately $5 billion worth of stablecoins, mostly made up of USDC.
USDT stablecoin issuer Tether has expanded its Bitcoin holdings by acquiring 7,629 BTC valued at roughly $705 million, according to on-chain data from Arkham Intelligence. The purchase elevates Tether’s Bitcoin holdings to 82,983 BTC, worth approximately $7.68 billion as of press time. The firm now ranks as the sixth-largest Bitcoin holder globally, based on Bitinfocharts […]
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Even with Bitcoin surging past $100,000 for the first time, some critics have remained skeptical about the cryptocurrency’s future.
Crypto execs are confident that it won’t be easy to enforce Brazil’s self-custodial stablecoin ban, with many examples proving that further decentralization is inevitable.
Crypto industry executives share with Cointelegraph what they expect for the now $200 billion stablecoin market next year.
Kaspersky says scammers are targeting digital thieves, baiting them with keys to loaded-up crypto wallets and swiping any crypto added to pay fees.
Tether appears to have now been affected by regulatory adjustment in Europe. Particularly, with the EU’s new Markets in Crypto-Assets (MiCA) regulations scheduled to fully take effect in its member states by the end of the year, the crypto landscape is being reshaped. Intended to increase oversight as well as eliminate illegal practices, MiCA requires […]
Ethereum layer-2 networks now lock over $13.5 billion in stablecoins, driving total market capitalization to $205 billion.
On-chain data shows a massive amount of the stablecoin USDT has been moving to exchanges recently, potentially acting as fuel for the Bitcoin and wider cryptocurrency rally. USDT Exchange Inflows Have Remained High Recently In a new post on X, the on-chain analytics firm Santiment discussed the trend in the Exchange Flow Balance for Tether’s USDT. The “Exchange Flow Balance” here refers to an indicator that keeps track of the net amount of a given asset entering or exiting the wallets associated with centralized exchanges. When the value of this metric is positive, it means the inflows outweigh the outflows, and a net amount of the coin is entered into the exchanges’ wallets. Such a trend is usually a sign of demand among investors for trading away the cryptocurrency. Related Reading: Ethereum On-Chain Demand Should Sustain ETH Above $4,000, IntoTheBlock Says On the other hand, the negative indicator implies the holders are withdrawing a net number of tokens from these platforms. This kind of trend suggests the market is in a phase of accumulation. Now, here is a chart that shows the trend in the Exchange Flow Balance for USDT over the last couple of years: As displayed in the above graph, the Exchange Flow Balance for USDT has observed several large positive spikes over the past month, implying that large investors have been depositing their tokens. For assets like Bitcoin, a positive Exchange Flow Balance can be a bearish sign, as it could suggest the holders are planning to sell. However, the same isn’t true when the asset involved is a stablecoin. Investors generally store their capital in these fiat-tied tokens to avoid the volatility of Bitcoin and other cryptocurrencies. Such users eventually plan to venture into the volatile side once they feel the conditions are right. And when the time comes, they naturally transfer to exchanges to swap to Bitcoin or whatever desired coin. This act of selling USDT does not affect its value since the coin is, by definition, always stable around the $1 mark. Related Reading: Solana Struggles Against Bitcoin & Ethereum: Glassnode Explains Why On the other hand, The asset they are shifting to does witness fluctuations from the purchase. As such, stablecoin exchange inflows are usually considered a bullish sign for Bitcoin and other assets. During the last eight weeks, exchanges have received a net average of $40 million USDT. “Helping to fuel this bull rally and the many historic crypto pumps, look for stablecoin ‘dry powder’ to continue flowing in during this final stretch of 2024,” explains the analytics firm. Bitcoin Price Bitcoin set a new all-time high (ATH) beyond the $108,000 mark yesterday, but the coin appears to have seen a pullback since then, as its price is now trading around $104,500. Featured image from Dall-E, Santiment.net, chart from TradingView.com
Binance, Crypto.com, Kraken and other crypto exchanges continue to list Tether’s USDT on their EU platforms weeks before the final MiCA deadline on Dec. 30.
Tether, the issuer of the world’s largest stablecoin by market cap, will provide its tokenization tech to Malta-based stablecoin firm StablR.
The market activity of TRON (TRX) has experienced a remarkable surge, resulting in the company making headlines. In November 2024, TRON achieved an extraordinary $587 billion in USDT transfers, a 30% increase from the previous months. Related Reading: Travala (AVA) Rally: Binance Early Bet And CZ’s Nod Drive 300% Growth This remarkable expansion underscores TRON’s status as a preeminent blockchain platform for stablecoin transactions, which are distinguished by their rapid transaction speed and low fees. TRON’s deflationary model and the growing popularity of stablecoins may pave the way for even more substantial price increases as the cryptocurrency market continues to develop. USDT Transfer Volume on TRON Reaches All-Time High of $587.2B (Monthly) “Stablecoins have seen remarkable growth, driven by strong interest in cryptocurrencies over recent months. TRON has emerged as the leading blockchain for stablecoin transfers. This chart highlights the… pic.twitter.com/150KEggTlK — CryptoQuant.com (@cryptoquant_com) December 14, 2024 Further Growth & Technical Analysis TRON, which is currently trading at $0.279, has demonstrated robust upward momentum following a reversal from a support level of approximately $0.2400, as indicated by recent technical analysis. Analysts anticipate that it will surpass the subsequent resistance level of $0.3200, which previously impeded its price at the beginning of December. The present positive attitude in the crypto markets supports this point of view since it suggests that TRON might keep on its upward path. Given that TRON’s market capitalization currently exceeds $35 billion, its rapid expansion reflects a more general trend of capital moving into established cryptocurrencies as investors search for stability in face of market volatility. Expert Foresees A Promising Future Andrew Griffiths, an expert in cryptocurrencies, thinks that TRON could soon hit $3 to $5. He says that the network’s popularity as a stablecoin and payment tool is the reason for this growth. The rising demand for USDT can help TRON become a bigger player in the crypto world. #TRX TRON is heading towards its apex, once it squeezes at that level, it will blow out, this will happen sooner than later, possibly in the next few months, target is 3-5 USD with an insanely deflationary model and the fastest blockchain for payment processing, nothing is… pic.twitter.com/b0xhgqhABT — Andrew Griffiths (@AndrewGriUK) December 13, 2024 TRON’s recent performance has not gone unnoticed; it has become a darling among investors seeking consistent returns. It is an appealing choice for developers who are designing decentralized applications (dApps) due to its robust infrastructure, which enables thousands of transactions per second. Additionally, TRON is expected to sustain its upward trajectory amid ongoing advancements in the crypto sector, such as technological upgrades and partnerships. Related Reading: Massive Dogecoin Rally Incoming: Bigger And Better Than 2021 — Analyst The Road Ahead TRX lately peaked at $0.45, doubling its valuation over night and raising its market value to $39 billion. With founder Justin Sun’s strategic $30 million investment in World Liberty Financial, the company’s trajectory has improved and TRON is now a major player in the blockchain scene. Featured image from Fast Company, chart from TradingView
Coinbase said it will assess reenabling services for stablecoins that achieve MiCA compliance at a later date.
As of the end of Q3 2024, Tether’s USDT stablecoin has hit a new record with 330 million on-chain wallets. This shows that USDT is the market leader in stablecoins and is accompanied by an astounding rise in acceptability, particularly among small holders. Stablecoins are becoming more popular for a variety of financial transactions, including savings, remittances, and transactions, which is driving the rise. Related Reading: HBAR To Hit $100? Analyst Points To Utility And Market Cap Potential Unprecedented USDT Growth Among Small Holders According to Tether’s latest data, the number of wallets holding USDT has increased by 71% in just one year. This rise is primarily driven by wallets with balances under $1,000, demonstrating that daily consumers prefer the stablecoin for its convenience and dependability. In fact, around 18.7 million wallets contain less than $1 of USDT, demonstrating its utility as a financial tool for those with low resources. According to Tether’s data, approximately 30% of these smaller wallets are reactivated on a regular basis, implying that users continue to use the coin whenever funds are available. The substantial increase in wallet numbers can be linked to a variety of factors, including the aftermath of the FTX crash, which encouraged many users to self-manage their assets rather than rely on centralized systems. This move demonstrates a rising trust in USDT as a solid and secure option in the wake of market volatility. Dominance Over Competitors With over 109 million active on-chain wallets, USDT has surpassed Bitcoin and is closing up on Ethereum’s wallet count. Tether’s stablecoin accounts for 97.5% of the overall stablecoin supply, considerably outpacing competitors such as USDC and DAI. According to the report, USDT is stored in four times more wallets than all other stablecoins combined, cementing its status as the world’s leading stablecoin. Emerging markets play an important role in this growth story. Almost half of the web traffic to centralized exchanges comes from these countries, where USDT is used by most consumers for money remittances and everyday transactions. This situation illustrates how USDT narrows the gap between individuals and banks when it involves providing a trusty solution for saving funds and conducting payments without access to the banking system. Related Reading: PEPE Hits $10.5 Billion Market Cap Milestone Amidst Frenzied Whale Action A Resource For Financial Inclusion The emergence of USDT is more than simply statistics; it signals a larger trend toward financial inclusion. With 59% of the world’s population earning less than $10 per day, stablecoins like as USDT are becoming increasingly important for many. Featured image from DALL-E, chart from TradingView
Stablecoin issuer Tether reported 109 million on-chain wallets holding USDT at the start of the fourth quarter, according to a Dec. 9 report. The growth positions USDT as one of the most utilized digital assets, with its wallet numbers approaching Ethereum levels and far surpassing those of Bitcoin. The report also highlighted USDT’s integration within […]
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By January 2025, Dtcpay will drop support for Bitcoin and Ether to focus on stablecoin payments exclusively.
XRP has made a historic comeback as the third-largest coin by market cap, the number of “XRP” Google searches breaking above “crypto.”
The latest on-chain data shows that the stablecoin market is nearing a new milestone in terms of valuation. Here’s how the increasing liquidity could impact Bitcoin and the general cryptocurrency market. Can The Increasing Stablecoin Cap Push Bitcoin Price To $100,000? Market intelligence platform IntoTheBlock has revealed in its weekly report that the stablecoin market capitalization has experienced notable growth in the past month. According to the crypto firm, the stablecoin market cap surged past $190 billion this week for the first time since late April 2022 when Bitcoin price was hovering around the $40,000 mark. This impressive growth comes on the back of Bitcoin’s unprecedented run to a six-figure valuation and the explosion of the total market capitalization to over $3.4 trillion. IntoTheBlock noted that stablecoins have seen increased adoption in the past few weeks, as investors continue to run toward riskier assets like cryptocurrencies. Related Reading: Ethereum Struggles Below $3,659 Resistance: Is Momentum Fading? Specifically, this expansion has primarily been in favor of Tether’s USDT, which continues to completely dominate the stablecoin market. Data from IntoTheBlock shows that USDT holds about 72% of the market share, with a market capitalization of over $133 billion — reminiscent of the crypto market highs of 2021. Interestingly, the demand for the Tether stablecoin appears to be climbing, with a weekly mint of over $3 billion of new USDT tokens. Most notably, over $13 billion USDT has been minted since the start of November, with the stablecoins largely flowing toward centralized exchanges. This injection of fresh liquidity into centralized exchanges has been reflected in the market, especially with the strong bullish momentum witnessed in the past few weeks. Historically, increasing stablecoin inflows into exchanges is positively correlated with market prices, as they often represent higher “buying power” for the investors. As such, the continuation of this positive trend could be pivotal to the dream of Bitcoin price surpassing $100,000. While the flagship cryptocurrency has seemingly recovered from its recent slump beneath the $93,000 level, it has not exactly shown strength sufficient to surpass the six-figure milestone. As of this writing, the price of Bitcoin continues to hover around the $96,500 mark, reflecting a more than 2% increase in the last 24 hours. According to data from CoinGecko, the premier cryptocurrency is still in the red on the weekly timeframe, with a 3% decline in the past seven days. BTC Market Becoming Stable And Mature: IntoTheBlock IntoTheBlock also disclosed in its weekly report that Bitcoin’s market climate seems to be maturing, as volatility is currently trending downwards. According to the blockchain platform, the market’s high volatility has been a long-standing criticism point for BTC as a store of value. Related Reading: Ethereum Open Interest Sets New Record, Analyst Says Fireworks ‘Guaranteed’ However, IntoTheBlock noted that investors can expect the Bitcoin price performance to be more stable, as retail and institutional adoption increases and volatility diminishes. Hence, the premier cryptocurrency could become an even more reliable store of value. Featured image from iStock, chart from TradingView
Cryptocurrencies, including stablecoins, still only pay for 0.2% of online commerce transactions globally, according to the report.
Stablecoins trading volume saw a sharp increase, placing monthly volumes on exchanges on track to new highs in 2024.
Stablecoin issuer Tether announced plans to end support for its Euro-pegged stablecoin, EURt, in a Nov. 27 statement. The company stated it had ceased minting new EURt tokens, with the last issuance request processed in 2022. It also continued that the asset’s current holders can redeem the tokens until Nov. 27, 2025. The decision marks the […]
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Tether has asked EUR₮ holders to redeem tokens within one year, ending on Nov. 25, 2025, as the company decided to discontinue the stablecoin.
Stablecoin market capitalization rose to $190 billion this month, surpassing the pre-crypto winter peak of April 2022, CCData reported.The crypto rally this year and particularly since the U.S. presidential election fueled demand for stablecoins, which are widely used for trading. The emergence of novel tokenized investment products with fixed prices such as BlackRock's BUIDL and Ethena's USDe also helped growth for the sector.Tether's USDT supply rose 10% over the last month to a new peak of $132 billion, while Circle's USDC grew 12% to almost $39 billion, the report said.
Ethereum reclaimed the top position against Tron on Nov. 21, and the gap has only widened since.
According to stablecoin firm Tether, over $134 billion USDt tokens are circulating across various blockchain protocols as of November 2024.
Solana (SOL) has recorded a new all-time high (ATH) of $262, marking a historic recovery after three years of tumultuous price action. Notably, the token had once fallen as low as $8 at the peak of the FTX exchange collapse and the ensuing crypto bear market. Solana Makes Historic Recovery, Eyes USDT Flippening Solana (SOL), the much-touted “Ethereum killer,” is again in the spotlight. After dominating the 2020-21 crypto bull market, the digital asset saw its value plummet after FTX’s spectacular collapse, led by Sam Bankman-Fried. However, SOL has staged an impressive comeback over the last two years. Related Reading: $4,000 Solana Price Possible As SOL Breaks Out Of Massive Cup And Handle Pattern At the time of writing, SOL is the fourth-largest cryptocurrency, with a reported market cap of over $123 billion. The layer-1 blockchain’s market cap is just $8 billion shy of overtaking stablecoin Tether’s (USDT) market cap of $130 billion. Notably, SOL needs a further 10% price appreciation to decisively increase USDT’s market cap and become the third-largest digital asset by market cap. SOL will only trail Bitcoin (BTC) and Ethereum (ETH) as the third-largest cryptocurrency. Given the token’s recent price trajectory, it won’t be surprising to see SOL surging past the leading stablecoin’s market cap before the end of the year. In the last three weeks alone, the token has experienced a remarkable 75% surge, rising from $148 on November 4 to $259 at the time of writing. While the broader crypto market has gained momentum following the victory of pro-crypto Republican US presidential candidate Donald Trump, attributing SOL’s rise solely to this would be disingenuous. Memecoin Frenzy, Increased Network Activity, ETF Potential Helped SOL SOL’s remarkable turnaround can be linked to several factors that have spurred increased network adoption. One of the most prominent contributors is the ongoing memecoin frenzy, which has emerged as a dominant narrative in the crypto market. Related Reading: Solana Memecoin Market Thrives: POPCAT Reaches New Record Price Of $1.75 Memecoins – particularly those based on the Solana blockchain – have emerged as the crypto market’s top narrative over the last year. In October alone, the total market cap of Solana-based memecoins surpassed $10 billion. This memecoin craze has also translated into heightened network activity for Solana. Between September and October, Solana saw a 42% month-over-month (MoM) increase in active addresses, amounting to approximately 123 million. Besides benefitting from the memecoin narrative, Solana has also seen increased decentralized finance (DeFi) activity throughout the year. According to DefiLlama data, Solana is home to the second-largest DeFi ecosystem in the world, with a total value locked (TVL) of $9.265 billion. In addition, there are growing prospects for a Solana-based exchange-traded fund (ETF). A recent report indicates that the US Securities and Exchange Commission (SEC) is holding active talks with multiple asset managers regarding the potential launch of a new spot Solana ETF. While SOL’s achievement of a new ATH is impressive, experts believe the token still has significant growth potential. At the time of writing, SOL trades at $259, up 6.2% over the past 24 hours. Featured image from Unsplash, charts from DefiLlama.com and Tradingview.com
A crypto whale narrowly avoided a $129 million USDT loss after falling victim to a phishing scam on the TRON blockchain. Blockchain security firm Scam Sniffer reported the incident on Nov. 20, detailing how the stolen funds were unexpectedly returned within hours. What happened? According to the firm, the scammer used a fake wallet address, […]
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The partnership is designed to expand access to PYUSD in Asian and African markets, PayPal said.