Tether’s US dollar-denominated stablecoin has surpassed $120 billion in market capitalization for the first time, signaling a potential cryptocurrency rally.The USDt (USDT) of Tether, the world’s largest stablecoin, surpassed $120 billion on October 20, according to the Tether website, which provides real-time updates on stablecoin supply.Tether tokens are in circulation. Source: Tether.toStablecoins are the main gateway between the worlds of fiat and digital assets. Increasing stablecoin supply is often used as a signal to predict an upcoming bull rally. This is because it suggests that investors are investing in stablecoins before investing in cryptocurrencies.An increase in USDT supply could help…
Author: Crypto Flexs
Read More
Bitcoin (BTC) will “come back into the spotlight,” according to a new analysis, as BTC price gains catch up with U.S. stocks.Caleb Franzen, founder of financial research resource Cubic Analytics, saw the potential for a surge in the price of BTC in his latest blog post on October 19th.“Highly Effective” BTC Pricing Tool Calls for ProfitsAs the S&P 500 repeats its all-time highs, Bitcoin should recover to match the recent performance of U.S. stocks.The writing may be on the wall for Franzen comparing BTC/USD to the Invesco S&P 500 Equal Weight ETF (RSP).“Comparatively, Bitcoin generated no new ATH compared to…
Over the past week, Bitcoin (BTC) has been gaining attention from investors from all walks of life. From short-term traders to institutional players. This can be seen in the strong performance of the spot Bitcoin ETF last week. Likewise, the Bitcoin derivatives market appears to be witnessing an increase in risk-taking behavior by traders, as evidenced by recent on-chain data. The Bitcoin market has now entered the ‘danger zone’ — what’s happening? Leverage is a tool that allows traders to control significant positions with relatively small amounts of capital. Although leverage helps traders and investors increase their potential returns, it…
Jessie A. Ellis October 16, 2024 15:30 Paxos is introducing the Wrapped Lift Dollar (wUSDL) to the Injective (INJ) network, providing users with a stablecoin that can earn yields on government bonds and enhance DeFi interactions. According to the Injective Blog, Paxos South America has officially launched Wrapped Lift Dollar (wUSDL), a high-yield stablecoin on the Injective (INJ) network. This new addition allows users to leverage stablecoins across Injective’s decentralized finance (DeFi) protocols while also benefiting from yield returns. Stablecoin that produces returns wUSDL is a wrapped version of the Lift Dollar (USDL) designed…
Bitcoin (BTC) price is up 55% so far in 2024, including a 12.50% rise in October. The recent gains were fueled by better-than-expected Wall Street earnings and improved overall risk sentiment. BTC/USD daily price chart. Source: TradingViewAdditionally, investors are increasingly pricing in the possibility of an interest rate cut by the Federal Reserve in November, and optimism is growing further as cryptocurrency advocate Donald Trump’s chances of winning the 2024 presidential election increase.relevant: Anthony Pompliano reveals the key catalyst for the next Bitcoin bull market.Fundamentally, Bitcoin appears well-positioned to enter a bullish cycle through the remainder of 2024 and beyond.…
A veteran trader says it would be unwise to start demanding the best from the Crypto Bull Market. A pseudonymous trader known as Flow Horse bases his Telegram channel on many charts, including Bitcoin (BTC), Gold Futures and NASDAQ, where there is a clear bull market that could be costly to oppose. “I said this in 2020. If you’re late for the ascent and having trouble getting in, just buy it and walk. I got stronger in a week through the levels. The effectiveness of high term acceptance is hard to argue with… I won’t guess how long the party…
Presidential candidate Donald Trump recently acknowledged the existence of Polymarket, a cryptocurrency-based prediction market platform. In a video posted to PolyMarket’s Trump said, “I’ve never heard of it,” and someone in the audience said the platform’s (…)
This article is also available in Spanish. Ethereum price is solidifying its upward trend above the $2,580 resistance level. ETH could pick up speed if it breaks out of the $2,650 resistance area. Ethereum remained in positive territory above the $2,550 and $2,580 resistance levels. The price is trading above $2,600 and the 100-hour simple moving average. The hourly chart of ETH/USD (data feed via Kraken) shows a major bullish trend line forming with support near $2,600. A break above the $2,650 and $2,680 resistance levels could continue the upward move for the currency pair. Ethereum price aims for further…
a16z crypto estimates actual monthly cryptocurrency users to be between 30 and 60 million, highlighting the gap between active users and cryptocurrency owners. Explore methodology and industry insights. (Read more)
As weak hands exit the market, SUI could be ready for a breakout. If this happens, your ranking within the top 20 may change. Sui (SUI) has shown significant influence, surpassing Litecoin (LTC) in market capitalization over the past 30 trading days. The growing user base has certainly fueled this upward trend. However, recent weekly declines of more than 3% have put SUI on the top loser charts. This gap led analysts at AMBCrypto to investigate whether the recent decline was a deliberate attempt to shake off a weak hand, setting the stage for stronger pressure that could push SUI…