Tether's USDT stablecoin briefly overtook Ether to become the second-largest cryptocurrency by market capitalization, reaching about $186.06 billion compared to Ether's $185.66 billion. This rare flip was driven by increased USDT issuance and a falling Ether price near $1,500, compressing Ether's market cap while USDT's supply expanded. Although Ether later reclaimed second place as prices stabilized, USDT's rise highlights the growing dominance of stablecoins, with the broader stablecoin market surpassing $320 billion. This shift reflects a trend where investors favor dollar-pegged tokens for utility and safety amid declining speculative asset values.
Cryptocurrency markets exhibit mixed price changes, with Bitcoin trading around $59,377, slightly up by 0.90%. Ethereum is down by 0.87%, while Solana and AAVE show significant gains of 6.69% and 8.02% respectively. Other altcoins like M and VELVET a...
The CoinDesk 20 index rose 0.4% to 1595.41, driven by strong performances from AAVE, which jumped 8.9%, and Solana (SOL), which gained 4.5%. Eleven of the 20 assets in the index traded higher, while NEAR and Ethereum (ETH) lagged with declines of 2.5...
Bitcoin experienced significant capital outflows as traders moved funds into stablecoins like USDT and USDC, as well as fiat currencies including USD, BRL, and TRY. This shift indicates a defensive market stance, with investors seeking liquidity and ...
Bitcoin bounced back from its lowest level since September 2024, trading near $59,700 after dipping to around $58,100. Meanwhile, ether continued to decline, holding near $1,550, and U.S. equity futures showed signs of weakness. Market stress is evid...
Bitcoin slipped below $60,000, trading around $59,586 after a US inflation report showed higher-than-expected Personal Consumption Expenditures, signaling prolonged Fed interest rate hikes. This triggered a $1.48 billion crypto liquidation, dragging ...
