Bloomberg Intelligence strategist Mike McGlone forecasts that Tether (USDT), a dollar-pegged stablecoin, is likely to overtake Bitcoin as the largest cryptocurrency by market value. He highlights the growing dominance of stablecoins reshaping the crypto market and notes Tether's recent rise above Ethereum in market capitalization. McGlone also warns of a potential Bitcoin price collapse to $10,000 amid a broader market deleveraging and expects a downturn in commodities like crude oil due to stock market corrections. This signals a significant shift in crypto dynamics, with stablecoins gaining prominence over speculative tokens like Bitcoin.
Tether transferred 140 million USDT, worth about $139.9 million, from its treasury to the Bitfinex exchange, continuing a pattern of significant fund movements between the two. Within a three-hour period ending early Oct. 28, four transfers totaling ...
TRON, Tether, and Chainalysis have formed a Digital Crime Task Force to detect and disrupt illegal activities involving Tether's USDT on the TRON blockchain. The task force will monitor suspicious transactions, share intelligence with law enforcement...
Binance conducted an extra proof-of-reserves snapshot on Nov. 12 following a security breach on Oct. 29 that involved about $6.34 billion in crypto assets. The snapshot revealed a 0.35% increase in user Bitcoin holdings and a 1.04% rise in Ether bala...
Hyperliquid (HYPE) fell 2.47% to $71.06 within 24 hours, showing a smaller decline compared to Ether and Uniswap, which dropped 3.00% and 7.77% respectively. Tether (USDT) remained nearly unchanged during the same period. This indicates some relative...
The stablecoin market has shrunk by over $14.20 billion in the past month, pushing its market cap below $300 billion for the first time in 14 months. This decline indicates reduced crypto liquidity and limited fresh capital, which hampers a bullish m...
