Tether Financial News

Cryptocurrencies failed to break the 42-day long downtrend after the $1.95 trillion capitalization resistance was rejected on March 20. Even though Bitcoin (BTC) gained a modest 3.7% over the past seven days, altcoins presented a robust rally.

The Li Finance protocol was recently compromised with a hack of $600,000. Reportedly, 29 wallets were affected. However, the bug was later fixed. Well, this has added more pain to the increasing list of DeFi hacks.

cryptocurrencies climbed up to 9 per cent in the last 24 hours, with Bitcoin topping the $41,000 mark and Avalanche and Ethereum seeing big swings. Bitcoin, the largest crypto by market value, was trading 0.69 per cent higher at $41,124.58, taking its seven-day gains to 0.8 per cent. Ethereum surged 2.9 per cent in the last 24 hours to $2,769. The second-largest cryptocurrency by market value has risen 3.9 per cent in the last one week. Tether, the third-largest, was almost flat at $1 and so was USD Coin, which was flat at $0.99. BNB added 1.19 per cent, XRP gained 2.01 per cent but Terra fell 2.12 per cent.

Trading volume in tether (USDT) using the Ukrainian hryvnia (UAH) fiat currency on crypto exchange Binance continues to see strong growth, reaching a new war-time high on Wednesday this week. Meanwhile, trading volume in both USDT and bitcoin (BTC) using Russian rubles is down significantly since the aggression on Ukraine started.

The interest in gold-backed stablecoins is on the rise, with inflows accelerating after the aggression on Ukraine started. Following the surge in adoption, the combined market capitalization of the two dominant tokens – pax gold (PAXG) and tether gold (XAUT) – for the first time crossed the USD 1bn mark last week.

Cryptocurrency startups have begun offering investors an option to earn interest on virtual assets to battle volatility even as the industry awaits regulatory and legal clarity on the issue. Crypto startups are offering fixed returns on one’s holdings. How do these investment products work? What makes them different from conventional deposits? What should investors watch out for? Aseem Gujar & Partha Sinha find out… One can buy crypto either through an exchange’s app or invest indirectly via exchange-traded funds (ETFs) as was explained last week in this column. Cryptocurrency startups are giving another option to investors: Some call it fixed deposit or fixed income product, while others steer clear of traditional finance terminology and refer to it as interest-generating investment. Presented ByDid you Know?Billed as India'

After Bitcoin (BTC) faced its third consecutive rejection, investors became more confident in adding altcoin positions. For the leading cryptocurrency, the path to $50,000 appears more challenging than previously expected.

Two weeks after the war in Ukraine started, the crypto markets continue to be volatile. Bitcoin (BTC) has seen unusually big moves both up and down, often moving in tandem with changes in the global risk sentiment. As usual, however, the biggest movers are altcoins, which have seen both strong gains and heavy losses since the war broke out.

Trading volume in the stablecoin tether (USDT) with Ukrainian hryvnia (UAH) is again seeing strong growth on crypto exchange Binance, with the volume on several days this week reaching and surpassing the level seen on the day the war started.

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

The market capitalization of gold-backed crypto tokens increased by 60% in 2022 to surpass $1 billion for the first time in history, according to Arcane Research in its latest weekly report. 

United States-based crypto exchange Kraken has announced an "ambitious aid package" aiming to distribute USD 10m in bitcoin (BTC) to its Ukrainian clients.

Paolo Ardoino, the chief technology officer at Tether, believes that the growing developments around central bank digital currencies (CBDCs) globally wouldn’t really impact the role of private stablecoins.

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

Trading in bitcoin (BTC) and the stablecoin tether (USDT) is once again rising in Russia, with trading volume on both coins on Monday breaking their highs from the start of the war in Ukraine. Meanwhile, price discounts have emerged on Russian ruble (RUB) trading pairs, while Ukrainians are forced to pay a premium to move their money into crypto.

Sentiment among crypto market participants rose over the last week, with major cryptoassets once again seeing the strongest sentiment. According to the market sentiment analysis service Omenics, the average 7-day sentscore for 10 major cryptos rose to 5.02 this week, up from 4.7 last week.

A war rages on Europe’s eastern rim, having already left thousands of people dead and injured and millions more displaced. Digital assets have become so woven into the global financial system that a major political and economic crisis like the one unfolding right now has crypto inevitably involved on all levels: individual, institutional and national. From Russian nationals turning their burning passports into nonfungible tokens (NFTs) to refugees using crypto as a last financial resort, millions of dollars worth of crypto donations flowing to Ukraine, and both digital asset platforms and the United States government weighing crypto sanctions against Russia, cryptocurrencies play a significant role in the events surrounding the ongoing calamity. It is also evident at this point that the crisis, in turn, will massively affect crypto itself, accelerating its adoption and regulation globally.

Bitcoin (BTC) and several other major cryptoassets initially fell on Monday, before buyers showed up later in the trading day to offer relief. At the same time, the US dollar, gold, and a large number of other commodities continued on a surge higher, as a ban on Russian oil imports seem to be on the table.

Bitcoin (BTC) price struggled to overcome $40,000 resistance over the weekend and currently trading just above $38,000. At a time when BTC is hovering at a 40% discount from all-time highs, whales have started accumulating more stablecoins.

Crypto donations to Ukrainian causes have slowed down over the weekend, while reports revealed that roughly 40% of Ukraine’s military suppliers accept crypto payments.

Lugano plans to make Bitcoin, Tether and the city’s own LVGA token legal tender. The city has formed a partnership with stablecoin issuer Tether. The move will allow citizens and companies to use cryptocurrencies to pay their annual taxes, parking tickets, public services and student tuition fees. The move goes beyond the actions of a number of other Swiss localities that for some time have been accepting crypto for tax payments.