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Cryptocurrency

Tether whales move over 300,000,000 USDT in a single day

Tether is now ranked the 4th most valuable cryptocurrency by market cap of $9.996 billion.

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Tether expected to surpass Ethereum, based on strength of the U.S dollar, ther mints 80,000,000 USDT to unknown wallets within 24 hours, Tether mints over a billion dollars’ worth of USDT, Tether mints over a billion dollars’ worth of USDT

Tether, the world’s most valuable stable coin by market capitalization and fourth-largest crypto asset by market value, has been experiencing high volatility in its market lately.

The latest development is Tether whales moving over 300 million USDT  between July 30 and July 31 in over 25 transactions, as seen on Whale Alert, an advanced blockchain tracker, and analytics system. The last Tether whale transaction occurred at about 11 pm GMT on Friday.

READ MORE: Ethereum-based assets produce highest returns in 2020

Data from Conimarketcap shows that Tether is now ranked the 4th most valuable cryptocurrency by market cap of $9.996 billion, with a daily volume of about $32.59 billion as at the time this report was drafted.

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What it means; report by Coin Metrics a year ago, revealed 318 addresses own 80% of the current total supply of the Tether stablecoin.  CoinMetrics the crypto analytic firm reported that these addresses own at least $1 million in USDT, showing that just a few players determine its market liquidity and price movements in this fast-growing crypto-asset space.

READ MORE: 83% of BTCs addresses are smiling to the Bank 

Tether Whales owning a large portion of total supply isn’t just the news. What makes it notably serious is the extent of the ownership centralization in Tether, raising fears like market manipulation by the hands of these powerful whales.

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Recall about two months ago, Nairametrics, outlined a report talking about the organic growth of Tether’s market capitalization as one of the major reasons for the gain Bitcoin (BTC) is presently having in the mid-term. Interest in digital links to the dollar represents the need to handle and store value in the world’s reserve currency without an intermediary.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading and Financial Market Analysis. Member of the Chartered Financial Analyst Society. You can follow Olumide on Twitter @tokunboadesina or email [email protected]

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Cryptocurrency

Bitcoin Whale transfers $1.1 billion worth of crypto for $3.58

A Whale is said to have moved 88,857 BTC, worth roughly $1.15 billion for a fee of only 0.00027847 BTC.

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Bitcoin Whale transfers $1.1 billion worth of crypto for $3.58

Big whales are definitely up to something, with the prevailing price seen at the world’s flagship crypto.

As Bitcoin’s price trades above $13,000, an unknown Bitcoin whale moved more than $1 billion worth of cryptos.

According to on-chain data Blockchain, the said whale moved 88,857 BTC — worth roughly $1.15 billion — for a fee of only 0.00027847 BTC, or $3.58 at the time of writing. The coins were confirmed in block 654,364 on Oct. 26.

READ: Two Bitcoin whales transfer 4,503 BTC, as Bitcoin stays above $11,400

What you should know

  • Bitcoin, at the time of this publication, traded at $13,085.43.
  • With a daily trading volume of $21.4 billion, BTC price is down -0.1% in the last 24 hours.
  • It has a circulating supply of 19 million coins and a max supply of 21 million coins.

READ: Crypto: REN, LEND and KNC emerge best performing DeFi assets

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That said, it’s critical to note these large entities are on record highs amid last week’s price ascension. Statistics obtained from BitcoinCharts revealed that Bitcoin whale addresses actually control a much higher 7,902,469 BTC, or 42% of the total supply.

Explore Data on the Nairametrics Research Website

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  • That brings an affirmative bias that these large entities’ movements are trajectory to price movements at unprecedented levels.
    This is an indication that more high-net-worth individuals are entering the space to invest in Bitcoin, in expectation of $BTC price appreciation.
  • Bitcoin accumulation has been on a constant upwards trend for months.
  • 2.6M $BTC (14% of supply) are currently held in accumulation addresses.

READ: Large entity moves Bitcoins valued $244 million

What this means

Nairametrics believes the increased buying pressures by notable institutional brands are partly responsible for the non-dilutable crypto recent highs. While it is difficult to predict market movements, BTC whales have shown historically that they often determine the BTC trend.

What this means from a macro level is that the increase in the number of these large entities can be considered bullish.

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Cryptocurrency

Large entity moves Bitcoins valued $244 million

BTC whale moved about 18,901 BTC estimated to be worth about $244million, some hours ago.

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3 BTC whales move 140 million worth of Bitcoins from Binance

As the price of the Bitcoin, the world’s flagship crypto breaches above $13,000 price levels, a growing amount of large entities in recent times have been increasing their transactional volume at the world’s most popular crypto.

Data obtained from Whales Alert, a crypto analytic tracker, revealed that an unknown BTC whale moved about 18,901 BTC estimated to be worth about $244 million, some hours ago.

READ: 5 major reasons it’s good to buy Bitcoin

READ: Jaiz Bank reports 45.3% profit increase in H1 2020, involved in 21 litigations

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READ: PenCom okays N2.58billion for relatives of 591 deceased workers in three months

Meanwhile, at the time of writing, Bitcoin traded at $13,064.05 with a 24-hour trading volume of $18,700,010,754. BTC price is down -1.8% in the last 24 hours. It has a circulating supply of 19 million coins and a max supply of 21 million coins.

Explore Data on the Nairametrics Research Website

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What this means: From a macro level, the increase in the number of these large entities can be considered bullish.

  • At the time this report was drafted, Bitcoin was still trading around the $13,000 support levels, as investors have kept buying BTC at its support levels.
  • Nairametrics believes the increased buying pressures by notable institutional brands are partly responsible for the non-dilutable crypto recent highs while it is difficult to predict market movements. BTC whales have shown historically that they often determine the BTC trend.

READ: Two strange Bitcoin whales transfer $290 million worth of Crypto

Quick fact: At the BTC market, investors or traders who own large amounts of Bitcoins are typically known as Bitcoin whales.

  • This means that a BTC whale would be an individual or business entity (with a single Bitcoin address) owning around 1000 Bitcoins or more.
  • As BTC whales accumulate BTCs, bitcoin’s circulating supply reduces, and this can weaken any bearish trend bitcoin finds itself in.
  • This means that over time, it’s possible that as BTC approaches its fixed supply of 21 million, the price of BTC will go up, with BTC’s present demand factored in.

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Cryptocurrency

Bulls on rampage, Ethereum wallets now record high

The number of Ethereum addresses (EOAs) holding at least 0.1 ETH just crossed the 10,261,111 million mark for the first time.

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Number of contract calls on Ethereum rises by 300%

Retail investors are rushing big time, over owning a stake in the world’s second most valuable crypto by market value. Its rise has not been surprising to many crypto experts in the crypto-verse, as the rise of DeFi Crypto partly helped Ethereum usage reach an all-time high coupled with the fact that it’s now trading over $400.

According to reports recently released by Glasscode, the number of Ethereum addresses (EOAs) holding at least 0.1 ETH just crossed the 10,261,111 million mark for the first time.

READ: FG liberalizes the Mining sector, grants 5 years tax concession to miners

“The increase in gas usage indicates a continuous growth in the use of Ethereum’s platform, as measured by the number of transactions, as well as demand for block space, as measured via gas per transaction,” said Wilson Withiam, research analyst at data provider Messari.

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READ: There are now 10,016 Bitcoin ATMs globally

Data from Coingecko at the time this report was written showed Ethereum traded at $408.30 with a daily trading volume of $11 billion. ETH price is down -1.6% in the last 24 hours. It has a circulating supply of 110 million coins and a max supply of ∞ coins.

Quick fact; Ethereum is a cryptocurrency designed for decentralized applications and deployment of smart contracts, which are created and operated without any fraud, interruption, control or interference from a third party.

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READ: Buying sign: Number of Bitcoin Big players at record high

Ethereum is a decentralized system, fully independent, and is not under anybody’s authority. It has no pivotal point, and its platform is connected to thousands of its users through their computing system around the world, which means it’s almost impossible for Ethereum to go offline.

Gas is the token that energizes Ethereum’s blockchain. It is the standard used to calculate the number of charges an individual needs to pay in order to make transactions on Ethereum’s blockchain.

READ: Ethereum whales move over $50 million of Ether to Uniswap

Like with many other crypto assets, speculating with Ethereum can be highly profitable and has had a good history of giving its investors huge returns. However, there are also many other options to make income from Ethereum. These options include Ethereum mining, Ethereum faucets, and Ethereum staking.

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