The circulating supply of the dollar-linked stablecoin on the two blockchains represents roughly 0.1% of the total USDT supply. Source
Tether to Stop Minting Stablecoin USDT on Algorand and EOS
Month: June 2024
Bitcoin Miner Riot Platforms (RIOT) Ditches Bitfarms (BITF) Takeover, Seeks to Overhaul Board
Riot, which became Bitfarms’ largest shareholder and owns 14.9% of the company, called for a special meeting to remove Bitfarms’ Chairman and interim CEO Nicolas Bonta, director Andrés Finkielsztain and anyone who might fill the vacancy created by the resignation of co-founder Emiliano Grodzki. Riot will also look to remove any additional director appointed by the current board of Bitfarms after today. Original
Bitcoin and AI remain in decade-long bullish trend
In a Monday morning CNBC interview, Anthony Pompliano discussed how Bitcoin’s current pullback follows bullish trends, and he discussed how AI and Bitcoin will work in tandem over the next decade. Pompliano highlighted decade-long bullish trends for both AI and Bitcoin, noting their potential to create and store wealth. “I’m going to go into the office and buy some more,” Pompliano said about his desire to buy more Bitcoin (BTC) at cheaper prices. Bitcoin down 15% When asked about the current slump in Bitcoin’s price, Pompliano remained optimistic about the…
Week of Woe: Major Crypto Assets Suffer, Some AI Coins Buck Trend
Over the past week, bitcoin has slid 6.6% while ethereum has lost 5.5% against the U.S. dollar, but a large handful of alternative digital assets saw much bigger losses this past week. The meme coin dogwifhat (WIF) was the week’s biggest loser shedding 31.2% while notcoin (NOT) lost 24.3% this week. Cryptocurrency Meltdown: Broad Losses […] Source CryptoX Portal
Bitcoin price could rebound with Solana, Ethereum: pro
Bitcoin price was under heavy selling pressure on Monday, continuing a sell-off that started on June 7th when it peaked at $72,000. BTC tested the $60,000 level, meaning it has now lost more than 15% of its value over the past few weeks. Bitcoin’s weakness triggered a major crash among altcoins, with tokens like Turbo, Solana, and Cardano falling more than 20%. The bullish case for Bitcoin A sense of pessimism and fear has spread in the crypto industry as the fear and greed index moved to 49, down from…
Tether (USDT) Shifts Focus to Community-Driven Blockchain Support
Tether, the issuer of the widely-used stablecoin USD₮ (USDT), has announced a strategic transition to prioritize community-driven blockchain support. According to tether.io, the company will discontinue support for the EOS and Algorand implementations. Assessing Transport Layers In a bid to maintain a robust and innovative blockchain ecosystem, Tether continually evaluates current transport layers. The company aims to balance maintainability, usage, and community interest in its blockchain selections. A critical part of this evaluation involves assessing the security architecture of potential networks to ensure safety, usability,…
Bitcoin Crash To $61,000 Drives 24-Hour Crypto Liquidations Toward $300 Million
Early on Monday morning, the Bitcoin price crashed another 5% to drop to the $61,000 level. This drop, which was very sudden, has taken investors by surprise, triggering a massive wave of liquidations. As the volume continues to rise, the crypto liquidation figures have barreled toward $300 million in just 24 hours alone. 91,000 Crypto Traders Lose $282 Million Amid Bitcoin Crash Data from Coinglass has shown that tens of thousands of crypto traders have lost their leverage positions in the last day, leading to hundreds of millions of dollars…
Kraken MTF, the Exchanges’ Derivatives Arm, Joins Copper’s ClearLoop Crypto Settlement Network
After many traders’ funds were marooned on the collapsed crypto exchange FTX, there’s been a push toward alternative structures, such as in-custody settlement networks and the like. Copper’s off-exchange network provides hundreds of institutional customers with connectivity to OKX, Bybit, Deribit, BIT, Gate.io, Bitfinex, Bitget and PowerTrade, with Bitstamp and Bitmart soon to go live, according to a press release. Source
Bitcoin miner Hut 8 secures $150m funding to build AI infrastructure platform
Bitcoin mining giant Hut 8 announced a $150 million strategic funding from Coatue to emerge as a “leader in the AI infrastructure market.” Miami-based Bitcoin mining firm Hut 8 announced on Monday it has raised $150 million to bolster its data center capabilities for artificial intelligence (AI). The funding, structured through convertible notes with an 8% annual interest rate, aims to support Hut 8’s expansion into AI infrastructure to meet growing market demand and position itself as a leader in the sector. While specific details on the location of Hut…
Ethereum Technical Analysis: ETH Faces Bearish Sentiment Amidst Continued Downtrend
Ethereum’s price stands at $3,311, with a market capitalization of $404 billion. The 24-hour intraday trading range has fluctuated between $3,277 and $3,500, while the 24-hour trade volume has reached $16.82 billion. A technical analysis across various timeframes highlights significant bearish indicators. The confluence of oscillators and moving averages suggest a continuation of the downward […] Source CryptoX Portal