Tether Zips Past $50B and Heats Up the Crypto Market

HomeNewsCrypto NewsTether Zips Past $50B and Heats Up the Crypto Market Tether (USDT), the world’s largest stablecoin, just reached a market capitalization of $50 billion at the end of April 2021. A definitive sign that the cryptocurrency bull market is warming up, the Tether supply has grown by more than a factor of 10 over the last 12 months. Calculating the breakdown, that roughly accounts for 25% growth in the span of a month.  CTO of Tether Paolo Ardoino, has commented on this success stating, “Crossing a market cap of…

Range-bound Bitcoin price opens the door for altcoins to move higher

Ether (ETH) took charge as a new month begins and the second-largest cryptocurrency by market capitalization rallied to a new all-time high at $3,338. This has many analysts shouting out that a new ‘altcoin season’ has commenced. Meanwhile, Bitcoin  (BTC) price is continuing to meet resistance around the $56,000 to $58,000 level.  Data from Cointelegraph Markets and TradingView shows that since dropping to a low of $2,160 on April 25, the price of Ether has rallied 54% to a new record high at $3,324 on May 3 as Monday’s 12% spike lifted…

Bitstamp announces US expansion after 570% increase in customers

One of the oldest exchanges in the crypto space recently announced that it would be ramping up efforts to reach more users in the United States. In an announcement from Bitstamp today, the crypto exchange said it would be launching a marketing campaign in the U.S. aimed at educating retail investors about crypto following significant growth in the first quarter of 2021. As part of these efforts, Bitstamp said it planned to triple the number of people in its U.S. team and grow its customer support team by 50% in…

Fei Has Achieved Price Stability After Initial Failure

Key Takeaways The Fei Protocol team has restored the value of its stablecoin, as the coin’s market value now sits at $0.97. The team is conducting an audit so it can reinstate price stabilization mechanisms that were halted due to a vulnerability. The governance community has voted to allocate 300,000 ETH to users, and it will also double staking rewards. Share this article The Fei stablecoin (FEI) has achieved price stability following various failures that followed the project’s initial launch. Fei Proposal Fixes Price Crash Fei is an algorithmic stable…

Blockcap plans to have 50K Bitcoin miners operational by 2023

One of the largest crypto mining firms in North America said that it has acquired an additional 8,000 rigs and begun mining other cryptocurrencies.  In an announcement from Blockcap today, the mining firm said it planned to have more than 50,000 mining rigs online by the end of 2022. Blockcap now controls more than 12,000 mining rigs, generating more than 6.6 Bitcoin (BTC) daily — roughly $380,000 at the time of publication. The firm added it was accelerating its move to mine other cryptocurrencies including Ether (ETH). According to the…

Employer paid worker in crypto, then demanded it back when price rose

A United States-based business development specialist has claimed that a company that paid them for contract work using cryptocurrency now wants them to return the tokens following a significant rally in the asset’s price. According to a letter sent to Quentin Fottrell of MarketWatch’s “The Moneyist,” the unnamed employee — known only as “Crypto Confused” — received payment for the contract work in cryptocurrency in August 2020, following which the price of the token surged 700%. The day the employee wrote the letter, the CEO emailed them demanding that they…

DeFi resurgence lifts Maker, Aave and Compound price to new highs

Analyzing the activity on lending platforms can sometimes be used as a barometer for measuring the sentiment of the cryptocurrency market as a higher number of collateral-backed loans may signal that traders are eager to trade a rising market.  The month of April saw the total value locked on Maker (MKR), Aave (AAVE) and Compound (COMP) climb to new highs alongside rising token values and trading volumes. MKR/USDT vs AAVE/USDT vs COMP/USDT 4-hour chart. Source: TradingView All three of the projects are based on the Ethereum (ETH) network and have…

EBay Is Exploring NFTs and Possibly Crypto Payments

Key Takeaways EBay is exploring the possibility of adding non-fungible tokens (NFTs), or cryptocollectibles, to its platform. To a lesser extent, it is also considering crypto payments. E-commerce sites have become a hotspot for cryptocurrency, as Shopify and Newegg both embrace the technology. Share this article E-commerce site eBay says that it is exploring the possibility of adding NFT support, according to an interview with CNBC. EBay Is Considering NFTs “We’re exploring opportunities on how we can enable [NFTs] on eBay in an easy way,” eBay CEO Jamie Iannone told…

CME Group introduces micro Bitcoin futures

The Chicago Mercantile Exchange, or CME, has officially launched its newest Bitcoin (BTC) derivatives product, setting the stage for wider mainstream adoption of digital assets.  TIm McCourt, CME Group’s global head of equity index and alternative investment products, said the new product will provide “an efficient, cost-effective way for a broad array of market participants — from institutions to sophisticated, active traders — to fine-tune their bitcoin exposure and enhance their trading strategies.” The Micro Bitcoin futures contract is worth 0.1 BTC, which provides traders with an additional tool to…