In the ever-expanding universe of cryptocurrencies, Tether (USDT) has emerged as a significant player. Tether (USDT) is a cryptocurrency that serves as a stable coin, pegged to fiat currency, specifically the US dollar. It was created to provide stability in the cryptocurrency world, allowing users to conduct transactions without being subject to significant price fluctuations, and for storing and transferring value within the cryptocurrency space. Over the years, it has become one of the most popular cryptocurrencies among traders and investors, holding a special significance in the cryptocurrency market. In this article, we will explore what Tether is, how to buy and store it, and delve into the key aspects of using this cryptocurrency.
Elon Musk is pumping cryptocurrencies, and Reddit is pumping Ripple, Ethereum has again updated the maximum
For the second week in a row, the crypto community is talking about the founder of SpaceX because of his market manipulation. On February 1, the main cryptocurrency rose by $800 after an interview with Elon Musk. In a live interview with Clubhouse, Musk said that bitcoin is on the cusp of widespread adoption, and also called himself a supporter of the cryptocurrency. After that, the quotes rose by $800 in 15 minutes, from $33.9 thousand to $34.7 thousand. Unfortunately, it was not possible to stay at this level and as of 19:00, the bitcoin rate fell to $33,600.
Bitcoin has risen in price by $4.6 thousand in two days. On February 4, the bitcoin rate reached $38,149 (according to Coingecko). Now the quotes are slightly reduced, at the time of 15:30 on February 5, the main cryptocurrency costs $37.8 thousand. The growth has been continuing since January 22, when a local minimum of $22 thousand was recorded.
Prior to this, Glassnode analysts predicted a new growth wave thanks to a number of factors. The key indicator was the stablecoin supply ratio. When the coefficient is low, this means that there is a large proposal of stablecoins in relation to bitcoin and indicates the readiness of customers to transfer coins to bitcoin or other cryptocurrencies.
On February 1, the cost of the XRP token rose to a maximum since November 2020 - $0.75. But it was not possible to hold out at a high level, at the time of 16:30 the quotes dropped sharply to $0.4. In just 4 hours, the rate fell by 39%.
The active growth of the token began over the weekend after the activity of Reddit users, who promised to pump the Ripple rate in the same way as the shares of GameStop and other market participants. In 4 days, the XRP rate managed to rise by 142%, increasing the coin to fourth place in terms of capitalization instead of Polkadot.
A similar situation happened with Dogecoin last week, but Ripple has a much larger capitalization, so it is more difficult to manipulate it. Recall that pump and dump schemes in trading are recognized as fraud and are punished at the legislative level. Such actions are especially popular in the crypto industry, since many coins have a low capitalization.
Today, February 5, at 15:30, the asset rate is at $0.44.
On the morning of February 4, the Ethereum rate updated its all-time high, reaching $1695. The capitalization of the token amounted to $191 billion, and the daily trading volume was $44 billion (data from Coingecko). Since the beginning of the year, the asset has risen in price by 137%.
Against the background of the growth of the ETH exchange rate, the commissions for transactions on the network also increased. The network transaction fee broke its own record - the average value reached $21. Over the past six months, the figure has doubled. The cryptocurrency network on decentralised exchanges cannot cope with the load at all, so transactions cost $60-100.
Two days earlier, on February 2, Ethereum also updated the maximum - at that time, the record was reached $1.5 by Binance.
The total investment in Ethereum 2.0 has already reached $4.1 billion at the current exchange rate. Glassnode announced a new historical maximum of blocked funds on deposit contracts. Locked validator tokens cannot be withdrawn until Ethereum 2.0 is fully launched. Recall that on December 1, 2020, zero phase was launched, there are still three stages of updates to go through. The exact date of the final transition to Ethereum 2.0 is unknown, presumably it will be 2022 or 2023.
Tuzemun DOGE and Elon Musk. On February 4, the founder of Tesla and SpaceX returned to Twitter and tweeted "Doge" with a picture of the rocket. In just 45 minutes after that, the price of the token soared one and a half times - the peak fell at $0.059. At the same time, the billionaire removed the “bitcoin” hashtag from his profile, it seems that he is very fickle in financial decisions.
Miami Mayor Francis Suarez is considering paying salaries to civil servants in bitcoin. The founder of Twitter even reacted to this situation, calling the idea "smart". In addition to the issue of wages, the mayor's office is exploring the possibility of paying taxes in bitcoins, as well as storing part of the treasury in them. Francis is going to finance his election campaign with bitcoins and wants to hold a bitcoin conference in the city.
Current Articles
11.11.2024
Donald Trump’s victory in the U.S. presidential election has become a powerful catalyst for the cryptocurrency market. Since the election results were announced, Bitcoin, the first cryptocurrency, has begun to surge rapidly, reaching new all-time highs almost daily. On November 10, 2024, Bitcoin’s rate exceeded $80,000, setting a new record and surpassing the capitalization of Meta Corporation.
07.11.2024
With the development of cryptocurrencies, increasing attention is being paid to their potential in various fields, including charity and humanitarian aid. Stable cryptocurrencies like USDT (Tether) possess unique characteristics that make them particularly attractive for use in international donations and charitable initiatives. This article explores how USDT can simplify the process of international donations and enhance transparency in the use of funds for charitable organizations.