Tag: Tether

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Ethereum reaches $1,900

Ethereum suddenly gained ground against Bitcoin, with its ratio rising from 0.052 to around 0.054 BTC, while its dollar price touched $1,900.

It is the highest level in four months and this price increase is due to several reasons, some of them specific to ethics.

The biggest one is probably the Celestia airdrop. This gave around 170,000 ethereums $500 just for being eth users.

Many of them were likely sold instantly for eth, and the attention Celestia received during the airdrop earlier this week has disappeared.

That’s a new ethical statement, with Celestia’s market capitalization currently at $330 million. Small compared to Ethereum’s market cap of $228 billion, but potentially enough to change the ratio a bit.

Another reason is that Ethereum has not kept up with Bitcoin, which has gained 30% this month compared to Ethereum’s 17%.

This has happened in the past when Bitcoin has led gains, as it did recently due to speculation about the BlackRock Spot ETF, but Ethereum generally recovers over time.

Especially since in this case, if Bitcoin gets a spot ETF, so will Ethereum, since Ethereum future ETFs have been approved, so any advantage Bitcoin might have would only be temporary.

For example, the Securities and Exchange Commission (SEC) recognized the filing of the Invesco Galaxy spot eth ETF this Friday. The deadline for approval or rejection is in May, just a few months after Bitcoin’s January.

As Bitcoin is somewhat off track at resistance above $36,000, numerous cryptocurrencies have seen gains against BTC, with Sol in particular rising 80%. Therefore, the ethereum ratio now also has its turn, at least for today.

Devconnect’s week-long Ethereum meetup in Turkey is also almost here, starting on November 13th.

Ethereum will not be holding a Devcon this year, as Devconnect is different in that it is more focused on coders.

However, as there will be no Devcon, this Devconnect is sort of the main ethical event of the year. Your schedule is packed for the week and there is a lot going on.

Whether this will affect the price remains to be seen. There may be announcements, although the Ethereum Foundation has not promoted the event much.

All three combined gave eth some strength for the day, but on the downside, bitcoin could also be benefiting from the macro picture and eth became inflationary again during the day.

Its supply increased by 0.16% on this quiet Sunday, but during the week it fell by 0.005%. Which makes for a mixed picture as some Ethereum users attempt to transition to the second layers.

Overall, touching $1,900 is a positive sign that eth may be trying to break the $2,000 resistance. It will likely work alongside bitcoin if they manage to break the resistance levels, then eth could also fall below that level.

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Four Tether Execs Are Now Crypto Billionaires As Stablecoin Issuer Seeks $9,000,000,000 Valuation

The four executives behind the world’s largest stablecoin are worth more than $1 billion each now that Tether’s (USDT) market capitalization is at an all-time high.

Despite a prolonged bear market for digital assets, the British Virgin Islands-based company posted a $1.5 billion profit in the first quarter of 2023 alone, with USDT accounting for more than 50% of all liquidity in the cryptomarket, according to Forbes.

Tether can be sold for up to $9 billion if the reported financial information is correct, enough to make all four of the company’s top executives billionaires.

Chief Financial Officer Giancarlo Devasini, who owns more than 40% of Tether and is considered the company’s mastermind, is now worth at least $4 billion.

CEO Jan Ludovicus van der Velde and CTO Paolo Ardoino each own $1.8 billion of shares in the company. Meanwhile, Stuart Hoegner, the company’s general counsel, has a stake valued at $1.2 billion.

However, regulatory changes could affect Tether’s current valuation. According to Forbes, passing stablecoin regulations through Congress could give USDT’s more compliant competitors an edge.

IntoTheBlock previously revealed that the USDT market cap has set a new all-time high as it approaches the $84 billion level. The analytics firm also said that the circulating supply of USDT has risen by nearly 30% year-to-date.

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Tether Launches Mexican Peso Tokens on Ethereum, Tron, and Polygon

Stablecoin issuer Tether Operations Limited announced that the company has launched a new token pegged to the value of the Mexican peso. According to the team, the newly launched MXNT tokens will initially be hosted on Ethereum, Polygon, and Tron.

Stablecoin MXNT is pegged 1:1 to the Mexican peso

Stablecoin and blockchain firm Tether has revealed that it has launched a new fiat-backed token that will join the company’s pool of stablecoins. Tether launched MXNT, a stablecoin pegged to the value of the Mexican peso.

Tether’s other fiat token offerings include the popular USDT, which is pegged to the US dollar, and EURT, which is pegged to the value of the euro. The company also offers CNHT, a token pegged to the offshore Chinese yuan, and Tether gold XAUT, a token pegged to the value of an ounce of fine gold.

Tether USDT is the largest stablecoin in existence today as it currently has a market valuation of around $73.2 billion. The token’s market cap represents 5.77% of the $1.27 trillion crypto economy.

Of the $86.43 billion in digital currency trading volume on Thursday, the connection volume is around $45.42 billion, or 52.55% of today’s global trading volume. In terms of bitcoin (BTC) trading pairs, USDT is the top pair with bitcoin, capturing 55% of today’s BTC trading volumes. Tether says that the launch of MXNT will be a “testing ground for the integration of new users in the Latin American market.”

Paolo Ardoino, CTO of Tether, detailed during the announcement that the company has seen the popularity of digital currencies increase in Latin America. “We have seen an increase in the use of cryptocurrencies in Latin America in the last year, which has made it clear that we need to expand our offerings,” Ardoino said in a note sent to Bitcoin.com News.

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Multiply with DeFi: Invest in Tether (USDT), Ripple (XRP) and FIREPIN (FRPN)

Decentralized Finance (DeFi) has changed the fundamental design of money to one where all players are treated equally. It allows all transactions to be completely decentralized, meaning that all transactions within the metaverse are not allowed as there is no central organization to oversee payments. By doing this, everyone has the same opportunity to literally multiply their DeFi money.

So what are you waiting for? Here are the top three coins to get you started on your Crypto success journey: Tether (USDT), Ripple (XRP) and FIREPIN (FRPN).

Firstly, we highly recommend investing in Tether (USDT). Because? The USDT value is guaranteed by Tether to remain pegged to the US Dollar. Tether claims to allocate the same amount of USD to its reserves each time it distributes new USDT tokens, ensuring that USDT is fully backed by cash and cash equivalents. Therefore,

making it stand out as a stablecoin.

According to CoinMarketCap, USDT currently ranks third on the ranking list, illustrating a market capitalization of $80,097,806,336. Overall, it provides an easy way for people to globally transfer the equivalent in US dollars via blockchain, without having to rely on a slow and expensive intermediary, for example. a bank.

Another key currency to consider is Ripple (XRP) – a single XRP transaction takes just five seconds to complete and costs just 0.0001 XRP (or $0.00007525), with minimal power usage. As a result, Ripple (XRP) is known to be one of the greenest coins within the Crypto space.

Thus, it illustrates a stark contrast to conventional Bitcoin (BTC). A single BTC transaction can cost up to $40, take up to an hour, and consume up to 250 kWh, which is roughly the same amount of energy a refrigerator uses in a year.

In short, crypto enthusiasts can trust the reliability of XRP as its price prediction is estimated at $4 to $8 by 2025. Thus, it demonstrates great potential.

Get up with FIREPIN (FRPN)…

On a final note, experts advised keeping an eye on the emerging FIREPIN (FRPN). This is a cryptocurrency that will connect Binance Smart Chain (BNB), Ethereum (ETH), Polygon (MATIC), Avalanche (AVAX) and Solana (SOL), allowing holders to use the most efficient blockchain at the optimal time. (depending on congestion). ) to trade smoothly and profitably.

Additionally, holders will be able to earn extra Crypto through their Staking and Farming platform. Therefore, holders of this new currency will benefit by investing in FRPN tokens, as a portion of each transaction will go to the treasury.

Cryptocurrency analysts have stated that FIREPIN (FRPN) will soon become one of the top cryptocurrencies on the market once it officially launches this spring. However, it is worth noting that now is the best time to make an investment as it has already seen increases in value despite being for sale.

Also, the FRPN Value Price Forecast is said to increase from $0.00006 to $0.0008. Therefore, if you were to invest now, it is very likely that you would considerably multiply your initial investment.

To conclude, investing in cryptocurrencies is extremely volatile but has great long-term potential. To invest successfully, you should always do thorough research and carefully assess which projects are truly trustworthy.

In short, FIREPIN (FRPN) is definitely a currency you can trust as it is based on full transparency and openly welcomes anyone interested in the Crypto community.

Remember, to make significant profits in the Crypto space, you don’t need to invest thousands of dollars. Simply ride project waves and invest strategically when currency is cheap. So don’t miss out: buy FRPN tokens as soon as possible to increase your chances of becoming a cryptocurrency millionaire.

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Taiwanese Investor Loses Over $ 3 Million In Household Units After Account Hacked

More than $ 3 million worth of homes were stolen from a private antiquarian in the nation of Taiwan, suggesting that even decentralized finance is vulnerable to illicit transactions by those who steal and commit dirty deeds to earn money.

Investor Loses Over $ 3 Million Against Tether The victim in question is a man named Liu Kun-Hung. He has a lot of cryptocurrencies in various online wallets. Two contained more than $ 3 million in loin, a popular stablecoin said to be backed by the US dollar.

However, it appears that the money disappeared from the thieves’ hands practically overnight, marking the latest onslaught of a serious streak in the past month. The money was divided between two digital accounts hosted in the United States. Everything seemed to be going well when Liu noticed in early July that three transactions were taking place. He had transferred money from his accounts to an “unknown cloud wallet” called by the police.

He knew something was wrong because he had not authorized the transaction and was not involved in transferring the money. Liu decided to change the passwords on his account several times, but that didn’t stop hackers from being able to access them.

He then reported the problem to the police, although by then much of the money had been deposited into various cloud accounts that Liu did not own. At this point, up to $ 500,000 of the digital money had been used in Liu’s account. In an interview he says: They (hackers) can steal our personal information from anywhere: from employees, from communication applications we use, or even from the platform on which the account was opened in Taiwan.

Liu was also able to contact several Tether representatives and have their accounts frozen, which helped prevent cyber thieves from stealing the remaining money. According to the Taiwan Criminal Investigation Service, the hacker’s diary address has already been reported. They say the address is tied to a cloud service provider, which is how the money moved.

Cell phone led to login information According to police, the hacker is believed to have been able to infiltrate Liu’s account and Tether’s hideout by sneaking into his home phone, as well as the phones of several of his employees, and obtaining information there. . Liu says: I will not be the last victim.

By using the most advanced technologies, the digital currency is known to be tough and powerful in protecting vital information; security is one of the main reasons we invest in it. But apparently that’s not the case here. So far I have been very disappointed and frustrated and urge Tether and its affiliated operators to protect others, especially foreign investors like me.