Tether Zips Past $50B and Heats Up the Crypto Market

HomeNewsCrypto NewsTether Zips Past $50B and Heats Up the Crypto Market Tether (USDT), the world’s largest stablecoin, just reached a market capitalization of $50 billion at the end of April 2021. A definitive sign that the cryptocurrency bull market is warming up, the Tether supply has grown by more than a factor of 10 over the last 12 months. Calculating the breakdown, that roughly accounts for 25% growth in the span of a month.  CTO of Tether Paolo Ardoino, has commented on this success stating, “Crossing a market cap of…

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Range-bound Bitcoin price opens the door for altcoins to move higher

Ether (ETH) took charge as a new month begins and the second-largest cryptocurrency by market capitalization rallied to a new all-time high at $3,338. This has many analysts shouting out that a new ‘altcoin season’ has commenced. Meanwhile, Bitcoin  (BTC) price is continuing to meet resistance around the $56,000 to $58,000 level.  Data from Cointelegraph Markets and TradingView shows that since dropping to a low of $2,160 on April 25, the price of Ether has rallied 54% to a new record high at $3,324 on May 3 as Monday’s 12% spike lifted…

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Bitstamp announces US expansion after 570% increase in customers

One of the oldest exchanges in the crypto space recently announced that it would be ramping up efforts to reach more users in the United States. In an announcement from Bitstamp today, the crypto exchange said it would be launching a marketing campaign in the U.S. aimed at educating retail investors about crypto following significant growth in the first quarter of 2021. As part of these efforts, Bitstamp said it planned to triple the number of people in its U.S. team and grow its customer support team by 50% in…

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Blockcap plans to have 50K Bitcoin miners operational by 2023

One of the largest crypto mining firms in North America said that it has acquired an additional 8,000 rigs and has begun mining other cryptocurrencies.  In an announcement from Blockcap on Monday, the mining firm said it planned to have more than 50,000 mining rigs online by the end of 2022. Blockcap now controls more than 12,000 mining rigs, generating more than 6.6 Bitcoin (BTC) daily — roughly $380,000 at the time of publication. The firm added that it was accelerating its move to mine other cryptocurrencies including Ether (ETH).…

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Employer paid worker in crypto, then demanded it back when price rose

A United States-based business development specialist has claimed that a company that paid them for contract work using cryptocurrency now wants them to return the tokens following a significant rally in the asset’s price. According to a letter sent to Quentin Fottrell of MarketWatch’s “The Moneyist,” the unnamed employee — known only as “Crypto Confused” — received payment for the contract work in cryptocurrency in August 2020, following which the price of the token surged 700%. The day the employee wrote the letter, the CEO emailed them demanding that they…

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DeFi resurgence lifts Maker, Aave and Compound price to new highs

Analyzing the activity on lending platforms can sometimes be used as a barometer for measuring the sentiment of the cryptocurrency market as a higher number of collateral-backed loans may signal that traders are eager to trade a rising market.  The month of April saw the total value locked on Maker (MKR), Aave (AAVE) and Compound (COMP) climb to new highs alongside rising token values and trading volumes. MKR/USDT vs AAVE/USDT vs COMP/USDT 4-hour chart. Source: TradingView All three of the projects are based on the Ethereum (ETH) network and have…

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CME Group introduces micro Bitcoin futures

The Chicago Mercantile Exchange, or CME, has officially launched its newest Bitcoin (BTC) derivatives product, setting the stage for wider mainstream adoption of digital assets.  TIm McCourt, CME Group’s global head of equity index and alternative investment products, said the new product will provide “an efficient, cost-effective way for a broad array of market participants — from institutions to sophisticated, active traders — to fine-tune their bitcoin exposure and enhance their trading strategies.” The Micro Bitcoin futures contract is worth 0.1 BTC, which provides traders with an additional tool to…

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Dogecoin passes Tether’s market cap following eToro integration

At more than $52 billion, the market capitalization of meme-based cryptocurrency Dogecoin (DOGE) has already passed that of Twitter, U.S. car manufacturer Ford, and now, Tether. According to data from AssetDash, the market cap of Dogecoin is $52.5 billion, more than $400 million higher than that of Tether (USDT) at $52 billion. The token has already surpassed Ford’s and Twitter’s market capitalization at $45.1 billion and $43.1 billion, respectively. The weeklong surge in DOGE price follows crypto-friendly trading platform eToro announcing it will begin listing Dogecoin. In a statement to…

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Ethereum bulls control 100% of this week’s $470M ETH options expiry

On May 7, a total of $470 million in Ethereum options are set to expire, and slaughter is really the only word that describes what is about to happen to bearish Ether traders. Currently, almost every single one of the 75,909 put (sell) option contracts will become worthless if Ether manages to remain above $3,100 until Friday 8:00 AM UTC. Ether’s growth has been fueled by decentralized finance (DeFi) growth, which has recently surpassed $60 billion in net value locked, according to Debank. Yat Siu, the chairman and co-founder of…

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