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 …

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 …

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 …

Crypto Market Stabilizes as Tether Recovers, Real Bitcoin Price at $6,450

The crypto market has stabilized after a wild 24-hour period triggered by the sudden increase in the price of Bitcoin. On cryptocurrency-only and Tether-integrated exchanges like OKEx, Huobi, and Bitfinex, the price of Bitcoin exceeded $7,700, as the value of Tether (USDT), which is supposed to be pegged to that of the US dollar on …

Tether Will be Replaced by New Stablecoins, Better for Crypto

On October 3, the price of Tether fell by more than 1 percent, creating a premium on crypto exchanges for traders purchasing major digital assets like Bitcoin with the stablecoin. In an exclusive interview with CCN, respected cryptocurrency trader and analyst Alex Krüger stated that Tether will likely not crash in the short-term, but the …

Tether Dominates 98% of Stablecoins’ Daily Trading Volume: Report

Despite the criticisms of opaqueness and centralization leveled against Tether, the stablecoin which was initially known as RealCoin continues to beat its rivals by wide margins. In a report titled The State of Stablecoins, digital assets tech firm Blockchain Luxembourg SA estimates that approximately 98% of the total daily trading volume of stablecoins is dominated …

ICON Records 23% Gain Again While Crypto Market Sees Gloomy Forecast

ICON (ICX) and WanChain (WAN) have recorded massive 23 percent gains again in the past 24 hours, becoming the two best performing assets in the global crypto market for two days straight. The valuation of the crypto market increased from $213 billion to $214 billion on August 27 as some major cryptocurrencies like EOS and …

MakerDAO CEO Rune Christensen Talks Stablecoins

I recently spoke with MakerDAO CEO Rune Christensen. MakerDAO is the company behind not one, but two, top 2oo-cryptocurrencies by market cap. One of these is Dai, sitting at #107 with a modest market capitalization of $46 million, and the second is Maker (MKR), which currently sits at #29 with a market capitalization of $272 …