Bitcoin exchanges just saw massive Tether stablecoin deposits
Is a broader rally forming for Bitcoin as sidelined capital makes its way onto exchanges? Nearly half a billion in Tether inflows was recorded on April 8 across major Bitcoin (BTC) exchanges, based on Glassnode's data.Considering that the inflows, the biggest since mid-March, coincided with a minor Bitcoin pullback, it indicates that buyers could be waiting to step in following BTC's price drop.Stablecoin deposits into exchanges. Source: GlassnodeIs a broader Bitcoin rally brewing?There are two major on-chain metrics that often signal a bigger Bitcoin rally is forming: BTC outflows and....
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Stablecoins like Tether are flooding crypto exchanges again, potentially pointing at another upward move on crypto markets. Amid renewed bullish action on cryptocurrency markets, stablecoins like Tether (USDT) are flooding exchanges to hit a new historical high in terms of allocation.According to market data provider CryptoQuant, stablecoin holdings on global crypto exchanges broke a new all-time high on Jan. 28, surpassing $4.7 billion.This amount makes up a significant part of the total stablecoin market capitalization, which is estimated at around $35.2 billion at the time of writing,....
On Monday, the stablecoin issuer Tether Operations Limited announced that the stablecoin tether is now supported by the Near blockchain network. Following a number of recent implementations, Near will be the 14th blockchain network that hosts the largest stablecoin by market capitalization. Tether Connects With the Near Protocol Tether has revealed that tether (USDT) is now supported by the Near (NEAR) network, a smart contract blockchain system launched in April 2020. Near’s market valuation makes it the tenth largest smart contract token by market cap, and the 25th out of all....
Stablecoin inflows into exchanges spiked right as the price of Bitcoin recovered above $38,000, on-chain data shows. The price of Bitcoin (BTC) has extended its recovery on Jan. 14, reclaiming the $38,000 level. What's more, the weekly candle has now turned green for the fifth consecutive week despite the 28% crash earlier this week. BTC/USD Weekly candle chart (Bitstamp). Source: TradingviewMeanwhile, stablecoin deposits are flooding into cryptocurrency exchanges, according to data from CryptoQuant. This inflow may act as a short-term catalyst for Bitcoin as it suggests that sidelined....
Following the company launching a fiat-pegged tied to the value of the Mexican peso, Tether, the stablecoin issuer has announced the firm has launched tether tokens on the Polygon network. The Polygon integration follows the stablecoin being added to the Avalanche and Kusama blockchain networks.
Tether Joins the Polygon Blockchain Ecosystem
The largest stablecoin by market capitalization, tether (USDT), is now supported on the Polygon blockchain (formally called Matic). USDT’s market valuation today is $72.6 billion and the stablecoin trade volume is $59.15 billion....
The largest stablecoin by market capitalization, tether has announced the launch of tethers on the Avalanche blockchain protocol. The stablecoin tether has launched a myriad of blockchain networks and today there’s more than 74.8 billion tethers in circulation today. Tether Launches on Avalanche On Wednesday, Tether Operations Limited, the firm that issues the stablecoin asset tether (USDT) has announced the launch of USDT on Avalanche (AVAX). The crypto exchange Bitfinex has also revealed it will support Avalanche-native USDT tokens on the exchange. Avalanche (AVAX) is a smart....