Is Tether Trying to Price Itself out of the Stablecoin Wars?

Bitfinex recently moved toward “Tether neutrality,” breaking its special bond with Tether (wherein it was the most reliable way to redeem USDT for USD) and in turn, Tether, with nearly $2 billion it outstanding units, had to re-establish direct redemption for USDT holders to USD. Those still wanting to use the Bitfinex method will have …

Ripple Finally Suffers Major Price Drop as Crypto Market Wipes Out $12B

Twitter Facebook LinkedIn The intense downtrend of the crypto market is finally having a toll on the best performing digital asset of the month. Ripple (XRP), now the second most valuable cryptocurrency in the market, is no longer up in value on a monthly basis. Throughout the past 30 days, XRP has maintained the $0.5 …

NEM Price Rebounds to Two-Month High Following Coincheck Relisting

Twitter Facebook LinkedIn The price of NEM tokens (XEM) has risen some since Japanese exchange Coincheck announced that it would once again allow trading of the token, which was suspended after a hack at the exchange led to a more than half-billion dollars in tokens being stolen and systematically laundered through other exchanges. The XEM …

Tether’s Market Cap Has Dropped by More than $1 Billion in October

Twitter Facebook Tether (USDT), the embattled cryptocurrency token whose value is purportedly backed by US dollars, continues to see massive outflows as it struggles to maintain USD parity amid rising competition from other stablecoins launched by some of the crypto industry’s biggest names. Blockchain data from Omni Explorer shows that yesterday, on Oct. 30, Tether …

BCH and EOS Extend Losses to 5% as Bitcoin Drops to $6,250

Over the past 24 hours, Bitcoin has lost 2 percent of its price against the US dollar, dipping below the $6,300 mark to $6,250. While cryptocurrency-only exchanges are demonstrating a price of $6,350 for Bitcoin due to the premium on BTC-to-USDT (Tether) pair, the actual price of Bitcoin remains at around $6,256. The volume of …

Crypto Market to Eclipse $20 Trillion as Bitcoin Fades

It’s been 10 years since bitcoin creator Satoshi Nakamoto published his white paper on bitcoin, and the global economy hasn’t been the same since. The original cryptocurrency now boasts a market cap of more than $112 billion, while bitcoin’s dominance hovers at more than 53%. But if you ask Nigel Green, founder and CEO of …

86% of ICO Tokens Worth Less than at First Crypto Exchange Listing

Global professional services firm Ernst & Young (EY) has released a report on the performance of ICOs over the last year, and in keeping with the bear market for cryptocurrency assets, the trend was predictably downward. Just 10 Tokens Count for 99% of All ICO Gains EY released a report on ICOs back in December 2017, …

Lack of Transparency to Blame for Tether’s Loss of USD Peg: Novogratz

Five days since losing its U.S. dollar peg, fiat-backed cryptocurrency tether (USDT) continues to trade at a discount to its supposed $1.00 valuation. Defenders have largely chalked up the markdown to FUD, arguing that supporters of other “stablecoins” are launching a coordinated assault on tether, which has long dominated this market niche. However, billionaire investor …

Tether Has Yanked $610 Million out of Circulation this Month

Tether Limited, issuer of the dollar-pegged cryptocurrency tether (USDT), has yanked nearly a quarter of the controversial stablecoin’s market cap out of circulation since the beginning of October. On Wednesday, cryptocurrency exchange Bitfinex sent another 50 million USDT to the Tether Treasury, marking the sixth time this month that the company — which shares a …

Tether Market Cap Sinks to $2.2 Billion as $250 Million Exits Circulation

The loss of its U.S. dollar peg isn’t the only thing driving down the market cap of tether (USDT), the cryptocurrency market’s largest “stablecoin.” Tether Falls Below Dollar Parity The USD-backed token, which as recently as late August had a circulating valuation of nearly $2.9 billion, is now worth just $2.2 billion, representing a two-month …