The ethereum network is facing unprecedented demand, but it is now used for much more than “merely” transferring ETH tokens. A large part of that demand is due to the activity of smart contracts. Smart Contracts Take Over Network Usage The most active smart contract on the ethereum network as of September 15, 2019, is […]
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Tether, the issuer of the USDT dollar-pegged coin, is running the money printer again, increasing the supply to 4.088 billion USDT. After Bitcoin (BTC) price once again threatened to drop below $10,000, a USDT liquidity injection may boost prices. New USDT Enters Markets Tether once again grew the supply of USDT, after testing the waters […]
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Controversial firm Tether Limited has announced that it is expanding its list of stablecoins by launching an offshore yuan-backed digital currency. Tether Continues its March The Hong Kong company said in a short blog post that the new stablecoin, known as CNHT, would be pegged one-to-one to the offshore Chinese yuan. Like its popular stablecoin […]
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Bitcoin has bounced back above the $10,000 level, gaining over $700 since Sunday. Here are three of the main drivers for why the dominant cryptocurrency is rallying right now. Binance & Bitfinex Announce Bitcoin Derivatives While Bitcoin started as a decentralized digital currency meant for peer-to-peer transactions, crypto exchanges reshaped the coin’s flow by handling […]
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Bitcoin’s price has risen above $10,000 for the first time in nearly a week as Tether releases $7 million in USDT from its wallet and a bullish divergence appears on the 4-hour chart. Bitcoin Price Up By 5% Bitcoin has gained more than 5% in a few hours on Monday (September 2, 2019). This surge […]
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Controversy continues to surround Tether, as recent market moves have vaulted the crypto into the sixth position on the world’s list of digital assets. As Tether fires up its printers once again, many market commentators wonder if this will lead to a sustained BTC prop above the 10K level. Controversial cryptocurrency Tether continues to make […]
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Bitcoin exchange Bitfinex must provide documents to US authorities after a New York judge ruled against its request to dismiss a lawsuit against it. Judge U-Turns On Bitcoin Exchange Protection According to a filing dated August 19, the Supreme Court of the State of New York moved against Bitfinex and its sister company, stablecoin issuer […]
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Whales reportedly own about 80% of the total Tether (USDT) supply sparking fears of bitcoin (BTC) price manipulation. Tether Whale Supremacy According to a report by Coin Metrics, 318 addresses own 80% of the current total supply of the Tether stablecoin. Bloomberg quoting excerpts from the Coin Metrics study reported that these addresses own at […]
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A crypto Twitter analyst believes that Tether’s USDT issuances are the real catalyst of the Bitcoin price bull move from $4,000 to $13,800. Bitcoin is not “Sound Money” Earlier this week twitter personality Andrew Rennhack suggested that Bitcoin’s explosive rally from $4,000 to $13,800 was primarily fuelled by Tether printing a vast amount of USDT. […]
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Tether’s (USDT) launch on the Liquid Network makes Libra obsolete even before it goes live, according to Samson Mow, chief strategy officer (CSO) at Blockstream. Liquid USDT Might Overshadow Libra At the end of July, Tether announced that it was launching on the Liquid Network sidechain, which was developed by Blockstream. Prior to that, the […]
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