Currently in the cryptocurrency space, Tether is minting an additional 3 billion USDt, non-fungible tokens (NFTs) are set to end November with strong momentum, and TYMIO founder Georgii Verbitskii expects the Bitcoin price to reach $180,000 by the end of 2025. It is expected to reach .
Tether issues an additional 3 billion USDt amid historic Bitcoin rally
Tether minted an additional $3 billion in USDt stablecoin on November 23 as investor interest in the cryptocurrency market surged due to the historic rise in the price of Bitcoin.
On-chain data shows that the stablecoin company minted an additional $2 billion (USDt) on the Ethereum network and $1 billion on the Tron network in consecutive transactions.
Source: Arkham Intelligence
Investors and traders use stablecoin trading volume and the volume of newly minted stablecoins as a proxy for market sentiment and trading volume.
High trading volume for a newly minted stablecoin is considered a sign of heightened investor interest, while low trading volume may indicate little investor interest in current market conditions.
NFTs record weekly sales of $158 million, led by Ethereum and Bitcoin.
Non-fungible tokens (NFTs) maintained relatively strong weekly sales, despite a slight decline compared to last week’s surge.
According to NFT data tracker CryptoSlam on November 24, digital collectibles had a solid week, with approximately $158 million in sales over the past seven days. This is a 12.7% decrease compared to the previous week, when weekly sales of digital collectibles reached $181 million.
Despite the economic slowdown, weekly trading volumes are still well above early November records. From November 4 to 10, weekly sales of NFTs amounted to just $93 million, a 69% increase from the beginning of the month.
These are the major networks based on last week’s sales. Source: CryptoSlam
Ethereum maintained its lead in weekly NFT sales volume. The network reported revenue of $49 million, down 25.9% from the previous week. Bitcoin came in second place with revenue down 29% to $43 million.
Solana Network maintained its third-highest ranking in digital collectibles sales. The network reported $23.9 million in weekly revenue, down 9% from the previous week. Meanwhile, Polygon, Mythos Chain, Immutable, and BNB Chain recorded $35.8 million in sales this week.
Solana leads all blockchains in number of NFT buyers. According to CryptoSlam data, Solana had more than 185,000 NFT buyers this week, a 57.99% increase from 117,000 last week.
The average transaction value across all networks decreased slightly from $133.08 to $126.17.
TYMIO founder predicts Bitcoin $180,000 by 2025.
Georgii Verbitskii, founder of the TYMIO decentralized finance platform, predicted that the Bitcoin price will reach $180,000 by the end of 2025.
In a statement to Cointelegraph, Verbitskii said he expects the Bitcoin price to reach at least $100,000 by the end of 2024 and $120,000 by early January 2024, before the incoming Trump administration takes office in the White House on January 25. said.
Bitcoin exchange reserve indicator. Source: CryptoQuant
Verbitskii also told Cointelegraph that Bitcoin’s volatility will likely remain high throughout the cycle due to supply-side issues, with the price likely to trend upward due to potential supply shocks.
The CryptoQuant Bitcoin exchange holdings indicator, which measures the number of bitcoins available on an exchange, continues to decline and remains at its lowest level in years.