Tether Financial News

Bitcoin (BTC) fell out of its long-term trading range on May 12 as ongoing sell pressure reduced markets to 2020 levels.

Can you hear the guns being loaded? That’s the sound of battle intensifying as there are only three stablecoins holding their places among the top ten cryptos by market cap. These were Tether [USDT], USD Coin [USDC], and Binance USD [BUSD].

A Russian independent news company has raised more than US$250,000 in cryptocurrency donations from supporters in order to continue reporting independent news under a barrage of Russian government propaganda and censorship. 

The United States Federal Reserve Board released its semiannual Financial Stability Report on Monday. The report points to volatility on commodities markets brought on by the Russian invasion of Ukraine, the spread of the Omicron variant of Covid and “higher and more persistent than expected” inflation as sources of instability.

In this article

Stablecoins are taking an increasingly growing market share of the overall crypto markets as the demand for digital dollars continues to rise among crypto investors.

The United States continues to be a global leader in embracing the cryptocurrency industry thanks to the work of Sen. Patrick Toomey, with the White House being at the forefront of crypto regulation. Last year, President Joe Biden signed a $1.2 trillion bipartisan infrastructure bill — and it included some new legislation that would impact the crypto sector. And more recently, the U.S. president announced a “whole-of-government” approach to regulating cryptocurrency in an across-the-board executive order directing multiple government agencies to answer specific questions on cryptocurrencies. The U.S. for the last year has clearly been seeking to help make the crypto industry more sustainable, which will make it significantly easier for cryptocurrency platforms to operate.

The total crypto market capitalization has been trading within a descending channel for 24 days and the $1.65 trillion support was retested on May 6. The drop to $1.65 trillion was followed by Bitcoin (BTC) reaching $35,550, its lowest price in 70 days.

Trading volume in the market for bitcoin (BTC) against Russian rubles (RUB) remains down on Binance after the exchange limited the activity of some Russian users last month.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

It seems like the armies are gearing up for a battle of stablecoins. Looking at the top ten cryptos by market cap, it’s clear that Tether [USDT] reigns supreme. However, USD Coin [USDC] is the fifth biggest crypto by market cap and the second biggest stablecoin. In tenth place at press time was TerraUSD [UST].

The Wikimedia Foundation, the non-profit that funds Wikipedia, is in the news today after it announced that it will be shutting down its BitPay account. In doing so, it will also not accept cryptocurrency donations going forward. This decision was made following community feedback, specifically, feedback on a 10 January proposal that called for the same.

The total crypto market capitalization has been holding a slightly ascending trend for the past 3 months and the $1.75 trillion support was most recently tested on April 27 as Bitcoin (BTC) bounced at $38,000 and Ether (ETH) at $2,800 on April 27.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

The USD 80bn-heavy stablecoin industry requires more regulatory clarity and harmonization across jurisdictions, but the coins' increased use for transactions is the ultimate factor that will boost adoption across the world, according to the participants of a discussion held at the Crypto and Digital Assets Summit hosted by The Financial Times.

Barring the dollar-pegged Tether, all major crypto tokens were trading higher during the early hours on Tuesday. Dogecoin zoomed 20 per cent. Terra rallied 8 per cent, whereas Ethereum was up by 5 per cent.Bitcoin and Ethereum recovered back in the past 24 hours. Seems like the short-term Bitcoin buyers have returned around the support level, said Edul Patel, CEO and Co-founder of Mudrex.

Gold coins, a new variant of stablecoins are emerging as first choice for crypto trading

In a recent interview with Paolo Ardoino, the Chief Technology Officer of Tether and Bitfinex, Paolo revealed amongst other plans, that the company is confident that it will maintain its position as the most used stablecoin despite the increasing competition in the stablecoin market.

Paolo Ardoino, the chief technology officer of Tether and Bitfinex, is confident that Tether will preserve its status as the most used stablecoin, despite the rapid growth of competitors such as USD Coin (USDC). 

A “bearish lull” in the crypto market fuelled growth in stablecoins, with the market capitalization of the top five stablecoins growing by 13% in the first quarter, according to a new report from the coin tracking site CoinGecko.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.