Bankrupt crypto lender Celsius Network has initiated legal proceedings against Tether, the company behind the USDT stablecoin. The lawsuit, which was filed concerning a contract dispute dating back to 2022, alleges that Tether violated their agreement by unjustifiably liquidating 39,542.42 Bitcoins that were held as collateral for a loan issued in USDT. Celsius contends that…
Institutional investors have already shown how bullish they are on Bitcoin (BTC) and the broader cryptocurrency market, as they have continued to accumulate with USDT, especially during every dip. This bullish sentiment was again on display as this institutional investor sent $445 million USDT to exchanges to buy more crypto. Cumberland Sends $445 Million USDT…
On-chain data shows Ethereum has been observing high exchange outflows recently, but a development related to Tether (USDT) may be a bearish obstacle for the market. Ethereum And Tether Both Have Seen Withdrawals From Exchanges Recently As explained by the on-chain analytics firm Santiment in a new post on X, the market is ending July…
Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms…
USDT, Tether’s digital token pegged to traditional currencies, is leading a quiet revolution in the world of finance. In a landmark development, USDT has surpassed Visa’s average daily transaction volume on the Tron blockchain, underscoring its position as the undisputed leader in the stablecoin space. This surge signifies a growing confidence in stablecoins and their…
According to data from CoinMarketCap, Bitcoin rose by 2.9% on Friday to trade above $67,000 for the first time since April 24. This positive price performance by the maiden cryptocurrency has been attributed to the low inflation levels reported in the latest Consumer Price Index (CPI) data. However, Bitcoin is an asset subject to the…
Though Bitcoin prices are fast-dropping, looking at events in the daily chart, one analyst thinks the coin is gearing up for a comeback, citing developments in the USDT dominance chart, or USDT.D. USDT Dominance Falling, Good For BTC? Taking to X on April 29, the analyst said USDT.D recently fell, breaking below a critical support trend…
The seemingly unshakeable reign of Tether (USDT) as the king of stablecoins faces a new challenger. Circle’s USD Coin (USDC) has pulled off a surprise victory, recording a higher transaction volume than Tether in April 2024, according to on-chain analytics from payments giant Visa. This development marks a significant shift in the stablecoin landscape. While…
The winds of change are swirling around Ethereum (ETH), the world’s second-largest cryptocurrency. While the Ethereum network itself is buzzing with activity, the price of ETH has taken a tumble in recent days, leaving investors scratching their heads. A glimmer of hope emerged with Tether’s (USDT) recent movement. Tether, the issuer of the world’s most…
While Bitcoin has dipped from its recent highs of around $74,000, some analysts are urging investors to stay calm and even see this as a buying opportunity. So far, Bitcoin prices have remained under pressure, trickling lower in the past trading week. Are There Similarities With The Bitcoin Bull Run Of 2020? Though the downward…