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Stablecoin issuer Tether (USDT) is nearing a $100 billion market cap after adding about $10 billion to its valuation during the last three months. According to new data from crypto ranking platform CoinGecko, USDT has seen its total market cap balloon from $84 billion on October 15th to over $94 billion on January 15th.
The last few weeks have been eventful for the cryptoasset space, with both positive and negative headlines leading the conversation among institutional and individual investors. With the SEC approving 11 spot bitcoin ETFs, leading to a massive volume of trading in the first several days the signal is clear; institutional bitcoin is here to stay.
The market value of stablecoins reached the highest point in nearly an year. The post USDT, USDC on track to record another successful month in January appeared first on AMBCrypto.
The Tron Decentralized Autonomous Organization (DAO) has rejected a United Nations assessment which suggested that bad actors are behind most tether transactions facilitated via its protocol. It also sees its over 50% share of the USDT stablecoins in circulation as a “testament to the superior trust bestowed upon the Tron blockchain by the global community.
In an encouraging development for the crypto space, Tether, the issuer of the world's largest stablecoin USDT, has doubled down on its Bitcoin investment momentum by acquiring a staggering 8,888 BTC, further diversifying its portfolio. Tether Increases Its Bitcoin Holdings Tether has recently made its third largest Bitcoin purchase, as the stablecoin issuer added a total of 8,888 BTC valued at $380 million at the time of purchase.
In a post on X, analyst Cardano Yoda believes that a USD-pegged stablecoin is crucial for ADA's future success, suggesting that its integration could trigger a bull run sometime in 2025.
Tether is only a few mints away from entering an exclusive subset of highly-valued crypto projects — the $100 billion club.
Tron founder Justin Sun said on Jan. 19 that the United Nations' recent report about the illicit use of USDT misrepresents some of the “professional facts” about blockchain networks.
Tron blockchain founder Justin Sun has recently addressed the United Nations report's critical observations on using USDT, a popular stablecoin, in illicit activities. The UN report, which focused on the potential misuse of blockchain technology, particularly highlighted the role of USDT in money laundering and scams in Southeast Asia.
Tron underscores its limited control over third-party actions on its decentralized network, reiterating its leadership in USDT circulation and commitment to transparency. Justin Sun Responds to UN Critique of USDT Justin Sun, Tron's founder, recently offered a mixed response to a United Nations report critiquing the use of USDT.
In a recent development, Justin Sun, the founder of the Tron blockchain, has publicly contested the claims made in a United Nations report concerning the misuse of blockchain technology, specifically focusing on the usage of Tether's USDT.
Justin Sun, the founder of the Tron blockchain, contested the UN report's assertions on USDT, pointing out factual inconsistencies and affirming Tron's dedication to maintaining blockchain integrity.
Tether consolidates its position as the 11th holder of the crypto.
Tether is still buying Bitcoin, and is already one of the world's largest holders of the asset.
Stablecoin issuer Tether (USDT) is now holding at least $2.82 billion of Bitcoin (BTC) as the firm continues to scoop up the crypto king at a high rate. According to Ki Young Ju, the founder and chief executive of on-chain market intelligence platform CryptoQuant, Tether is currently holding at least 66,400 BTC.
Surging bitcoin acquisition by Tether, BlackRock, and spot ETFs could precipitate a supply shock and volatile price moves in 2024.
Stablecoin issuer Tether and several US spot Bitcoin ETFs (exchange-traded funds) have made significant Bitcoin (BTC) acquisitions. Indeed, the developments signal a potential demand shock.
The stablecoin issuer continues to load up on Bitcoin.
Tether has significantly increased its Bitcoin holdings, now comprising more than 66,000 BTC, with an estimated value exceeding $2.8 billion.
The stablecoin issuer announced in May 2023 that it would start buying bitcoin in an effort to diversify the backing of its USDT stablecoin.
Tether's strategic Bitcoin acquisitions and evolving investment approach raise compelling questions about its impact on the cryptocurrency landscape.
Stablecoin issuer Tether expanded its Bitcoin holdings, acquiring an additional $380 million worth in the last quarter, bringing its total to 66,465 Bitcoins, valued at $2.8 billion. Tether's Strategic Moves Tether has been steadily increasing its holdings each quarter since it began its Bitcoin acquisitions in September 2022.
USDT stablecoin issuer Tether has been actively buying Bitcoins while adding a substantial amount of BTC during the bull run of Q4 2023. Stablecoin issuer Tether has further solidified its position in the cryptocurrency market by acquiring an additional $380 million worth of bitcoin in the closing moments of the last quarter.
Stablecoin issuer Tether bought another $380 million of bitcoin at the end of last quarter, bringing its total holdings to about $2.8 billion.
