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.
According to stablecoin firm Tether, approximately $127 billion in Tether-USD tokens (USDt) are currently in circulation.
The Tether-US dollar stablecoin's market capitalization has topped $126 billion, as approximately $7 billion in new USDt was minted.
Prosecutors petitioned a New York federal court to seize crypto they alleged is linked to bribes paid to Chinese officials by Sam Bankman-Fried.
Crypto is a popular target for cybercriminals, who rely on its anonymity and lack of regulation. These crimes often target individuals online through hacking and ransomware. However, there have been a few aggressive crimes in the past that target unsuspecting individuals in person and broad daylight. Thailand news agencies report that a Ukrainian tourist recently lost […]
Stablecoin exchange balances grew to a yearly high of $41 billion this week, providing dry powder to buy digital assets, one analyst noted.
Tether has minted $5 billion worth of the USDT stablecoin over the past week amid Bitcoin’s rally near the $90,000 milestone. Data from blockchain analytics platform SpotOnChain reveals that Tether began this series of USDT issuances with $1 billion minted on Nov. 6, contributing to Bitcoin’s climb to a record high of $76,200. The firm […]
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The WDK will enable developers to integrate non-custodial wallets for USDT and Bitcoin into any app, website or device.
The general cryptocurrency market has seen notable upward momentum in the past few weeks, with Bitcoin, the largest digital asset, leading the market once more toward what several seasoned crypto analysts believe to be one of the biggest bull runs ever. Bitcoin Heading Toward More Higher Levels In his latest report, Doctor Profit, a market […]
Stablecoins like USDT and USDC are shining stars of digital finance. Their stability is due to their 1:1 peg to the US dollar. As a result, their use for everyday transactions and overall acceptance are increasing quickly worldwide. In Singapore, for example, the stablecoin payment value reached $1 billion in the second quarter of the […]
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The stablecoin firm previously came under fire from Wyoming Senator Cynthia Lummis for allegedly facilitating illicit finance activities.
The partnership between The Open Network (TON) and Tether has reached new heights as the USDT stablecoin experienced a massive surge in just a few months since the start of their collaboration. A remarkable feat that saw a massive increase in the USDT on TON hitting over $1 billion in only six months, an indicator of the capability of the emerging dynamic duo. Related Reading: Bitcoin Mining Costs Spike To Nearly $50K As Miners Look To AI For Survival Exponential Growth Analysts said that TON keeps on moving upward as many investors start to adopt Tether’s stablecoin. In a report, CryptoQuant said that in the last six months, USDT on TON rose by a whopping 670%. CryptoQuant added that TON only had $130 million worth of USDT in May 2024, but after half a year, the stablecoin ballooned to $1.02 billion. Analysts attributed the massive hike to the increasing investors’ preference to use TON, making the network a significant player in the stablecoin sector. They also believed that the stablecoin market will continue to thrive and flourish rapidly which will open opportunities for emerging blockchain networks. Currently, stablecoins have gained popularity worldwide. These digital monies are used to facilitate various activities such as cross-border transactions and personal payments. Data showed that for instance, USDT is being utilized by 10% of all commercial transactions conducted in South Korea. Low Transaction Fee CryptoQuant said that the TON blockchain is an excellent substitute for stablecoins because of its low transaction costs, saying that its “competitive transaction fees” fuel the increasing number of USDT transactions on TON. Analysts considered its remarkably low fees as one of its most significant advantages because it makes TON more attractive to users who conduct regular transactions. TON allows these users to save money while partaking in the cryptocurrency market. Statistics showed that transaction fees have decreased significantly in the past few months. The median transaction fee in June 2024 stood at $0.061, but it went down to $0.035 by October 2024. A significant reduction greatly contributed to the TON’s rapid adoption because users are seeing the network as an option for their transactions. Related Reading: Why One Analyst Says Now’s The Time To Buy XRP—Before It Hits $14 USDT Expected To Expand USDT stablecoin has emerged as a key player in the market today, reaching a USDT supply of about $120 billion. CryptoQuant predicted that the USDT supply would expand and could reach $200 billion in the bull rally. “This growth will likely drive further demand for fast and low-cost blockchain networks like TON, leading to continued growth in the amount of USDT on the TON network,” the analyst added. CryptoQuant also sees that TON will have the opportunity to expand in the stablecoin ecosystem by providing “robust infrastructure and competitive advantages.” Featured image from Medium, chart from TradingView
Tether CEO Paolo Ardoino has dismissed recent speculation about the company’s plans to launch a proprietary blockchain network. In a Nov. 3 post on X, Ardoino clarified that Tether does not intend to create its blockchain. He emphasized the company’s position by writing: “Tether is not planning to build an official blockchain at this time.” […]
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“Police are inevitably corrupted.” A quote from Frank Herbert’s novel God Emperor of Dune may hold true in the case of a group of cops in Thailand who allegedly prey on foreign nationals to extort money. A Chinese-Vanuatu expat who filed a complaint at Thailand’s law enforcement agency said that the extortionist cops coerced him […]
Tether’s consolidated profit in 2024 has reached $7.7 billion, with $14.2 billion in equity and total assets of $134.4 billion.
The company's flagship stablecoin USDT is the third-largest cryptocurrency with a $120 billion market capitalization.
The U.S. Treasury Department's panel of Wall Street advisers see the tokenization of U.S. debt and other assets providing some significant potential advances, the group contended in a new report – while also envisioning an inevitable need for the kind of heavy central hand that may rankle the crypto sector.