Author: CryptoHoppers
The market capitalization of Tether‘s stablecoin USDT has surpassed $115 billion. According to a somewhat cryptic X post by CEO Paolo Ardoino, Tether’s stablecoin USDT (USDT) hhas reached a significant milestone, surpassing $115 billion in market capitalization. This achievement underscores USDT’s dominance in the stablecoin market, where it has accounted for over 70% of the market for nearly a year. Recent data indicates that USDT’s market cap grew by over $1 billion in the past week, coinciding with a rebound in Bitcoin’s (BTC) current price of $60,200. Tether surpassing $115 billion in market cap is significant because it demonstrates how…
Key Takeaways Bitcoin broke $62,000 on Aug. 8, needing to hold $60,600 as support for potential $65,000 test. Spot Bitcoin ETFs saw $195 million inflow on Aug. 8, with BlackRock’s IBIT leading at $157.6 million. Share this article Bitcoin (BTC) broke $62,000 on Aug. 8 and now needs to hold the $60,600 level as support on the daily chart to try a revisit to $65,000, according to the trader identified as Rekt Capital on X (formerly Twitter).The upward movement was likely triggered by BTC chasing a CME gap between $59,400 and $62,550. A CME gap is the difference between the…
The government of President Javier Milei has created a security-focused artificial intelligence (AI) unit that will use learning algorithms and other technologies to supervise the internet and predict crimes before they happen in Argentina. The unit, created last week, has caught attention in social media due to its similarities with how police act in the […] Source link
The Bitcoin Dominance and Tether Dominance chart underlined BTC’s strength. There were signs of high buying power due to the stablecoin supply, which could help with recovery. The Bitcoin [BTC] Dominance metric has rocketed higher in recent weeks. During this time, the price of the king of cryptos has formed a bearish structure on the weekly chart. On the back of negative macroeconomic news, BTC dived as low as $49k. Altcoins suffered more-the top 125 altcoins, excluding Ethereum [ETH], collectively lost $187 billion from the market cap since the 5th of August. Range breakout for Bitcoin Dominance Source: BTC.D on…
The US-based investment management company Franklin Templeton, which has over $1.5 trillion in assets under management, has introduced the OnChain U.S. Government Money Market Fund on Arbitrum. This is the third blockchain platform in which the fund has invested. It is currently available on Stellar and Polygon and seeks to extend the use of blockchain technology in the conventional financial sector. Franklin Templeton Expands Fund to Arbitrum Network Arbitrum, a layer-2 solution for Ethereum, has opened up trading of the fund’s shares for investors. Earlier, these shares were listed on Stellar and Polygon blockchains. The company initially plans to focus…
In the volatile world of cryptocurrencies, some believe meme coins are the best way to make easy money. Today on August 9, 2024, an on-chain analytic firm Lookonchain shared a post on X (previously Twitter) revealing that five insider wallets have made over $4 million from a newly created meme coin. Meanwhile, another trader lost nearly $1 million at the same time in the same token as its price crash.Five insiders made $4 million with new meme coinAccording to lookonchain, these five insiders created a new wallet following the launch of this new meme coin and withdrew funds from Coinbase…
Crypto exchange Binance’s security team has recovered or frozen over $73 million in stolen user funds so far this year, surpassing the $55 million recovered in 2023. This achievement highlights the company’s commitment to improving cryptocurrency security. Binance Recovers $73 Million in Stolen User Funds Crypto exchange Binance announced on Wednesday that its security team […] Source link
A widely followed analyst believes Bitcoin (BTC) will spark a furious rally to regain all of its losses over the past week. Pseudonymous analyst The Crypto Dog tells his 806,500 followers on the social media platform X that he sees a swift Bitcoin recovery following its collapse from $70,000 to a six-month low of $49,000. “I guess we might just speed run retracing the whole dump as fast as we crashed.” The analyst’s bullish stance on Bitcoin comes after BTC quickly bounced off its lows and stayed above its immediate support at around $54,000. “Price not nuking (yet), maybe they…
The decentralized physical infrastructure network market continues to see significant growth, with funding for earliest-stage projects increasing 296% year-over-year. According to details shared by crypto market intelligence platform Messari on X, early-stage DePIN projects had raised more than $246 million across 70 deals by Aug. 1, 2024. IoTeX (IOTX) is the platform that has so far registered one of the biggest funding rounds in this ecosystem. DePIN continues to grow 🌐With fundraising volume up 296% year over year, the total market cap grew 400% to $20 billion.It’s Time for a #DePIN Sector Update 🧵⬇️— Messari (@MessariCrypto) August 7, 2024 In…
Photo by edmund on wallpapers . com Key Takeaways ‘Crypto for Harris’ aims to secure crypto community votes in the 2024 presidential race. Trump counters with promises of deregulation and a government Bitcoin reserve. Share this article The 2024 US presidential race has thrust crypto policy into the spotlight, with both major candidates vying for support from the industry and its estimated 40 million American users. Vice President Kamala Harris and former President Donald Trump are employing contrasting strategies to court crypto voters, highlighting the sector’s growing political influence.A new Democratic advocacy group, “Crypto for Harris,” plans to host a…