Connect with us
iubh
Advertisement
Alpha
Advertisement
Hotflex
Advertisement
british airways
Advertisement
Advertisement
UBA
Advertisement
Patricia
Advertisement
app

Cryptocurrency

Tether Treasury opens up 400,000,000 USDT

Tether is presently the third most valuable crypto with a market value of $23.5 billion.

Published

on

Tether is the most valuable stablecoin by market value. It is a leading household name in the fast-changing crypto market.

The latest development is that Tether treasury minted a whopping 400 million USDT, as seen on Whale Alert, an advanced blockchain tracker and analytic firm.

  • “400,000,000 USDT (402,613,737 USD) minted at Tether Treasury.”

READ: Cassava Fintech new COO projects an 80% online usage for its company´s payment platform

READ: No retreat, no surrender, XRP jumps by 21%

What you should know

At the time of writing this report, the stablecoin traded at $1.00 USD with a daily trading volume of $133.4 billion. Tether is down 0.16% for the day. It is presently the third most valuable crypto with a market value of $23.5 billion.

  • Tether is designed as a blockchain-based cryptocurrency whose digital coins in circulation are backed by the same value of traditional fiat currencies like the U.S dollar, Japanese Yen, or the Euro. It trades under the ticker symbol USDT.
  • Nairametrics had earlier outlined a report on 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.

READ: Ethereum investors have gained 51% in 2021 alone

Hotflex
Sigma Pensions

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Cryptocurrency

Coinbase debuts on Nasdaq at around $100 billion valuation

Coinbase resumed trading on the Nasdaq Composite Index today under the ticker “COIN”.

Published

on

Coinbase, a Cryptocurrency exchange made its highly anticipated debut on Nasdaq on Wednesday, April 14, 2021, becoming the first company devoted entirely to cryptocurrency to enter the US stock exchange.

The IPO of Coinbase Global today was a big turning point for the cryptocurrency business. It had a rousing debut on Wall Street with the digital currency exchange’s stock growing as high as $429, giving it a market cap of $100 billion for a brief period of time.

According to analysts, retail trading accounts for 90% of Coinbase’s income, with the majority of trading taking place in the United States and focusing mainly on the two main cryptos: Bitcoin and ETHUSD. Dubbed the most talked-about IPO on Wall Street, Coinbase resumed trading on the Nasdaq Composite Index today under the ticker “COIN.”

What this means

Given Coinbase’s reception, Crypto optimists insist Bitcoin will not go anywhere in the near future, but will instead become more mainstream. They see the Bitcoin craze as the “start of a new era” in the digital currency world, rather than a passing faze.

Due to Bitcoin’s young and unpredictable existence, investors and public corporations are also wary of investing in it. However, as long as the currency’s popularity is sustained, the bubble hypothesis can be debunked as control and acceptance of the currency spreads further down the line, according to analysts.

It is important to note that Coinbase has a strong correlation with Bitcoin and as its benefits from its bullish run, it can also be hit by a downturn in the market.

What you should know

  • Coinbase has become popular amongst cryptocurrency optimists since being founded in 2012, for providing an easier way to exchange shares of digital currencies.
  • Coinbase announced last week that its first-quarter sales jumped 847% to $1.8 billion and that it currently has 56 million confirmed customers.
  • Coinbase is now one of the largest publicly traded firms in the United States, with a market cap of more than $100 billion.
  • Only 83 companies in the S&P 500 index have a market value greater than $100 billion.
  • The combined market value of Nasdaq Inc., which operates the Nasdaq Stock Market, and Intercontinental Exchange, which owns the New York Stock Exchange, is greater than Coinbase’s.

Continue Reading

Cryptocurrency

Dogecoin hits a new milestone, surges by 54%

DOGE experienced a strong 54% rally and established a new all-time high of $0.1161.

Published

on

The price of Dogecoin, the fast-rising crypto popularly referred to as DOGE experienced a strong 54% rally and established a new all-time high of $0.1161 amid strong buying pressures prevalent in the Cryptoverse.

While crypto pundits can’t clearly give the rationality behind the recent surge of Dogecoin, its debut as one of the most popular crypto on social media, with top celebrities including Elon Musk and Mark Cuban giving the crypto endless support, makes a strong case.

READ: Sacramento Kings becomes first sports team to offer salary option in Bitcoin

At the time of writing this report, Dogecoin was trading at $0.113824 with a daily trading volume of $11.3 billion. Dogecoin is up 54.49% for the day.

Dallas Mavericks owner, Mark Cuban is predicting the price of Dogecoin (DOGE) will eventually hit $1, after few days of accepting the crypto as a form of payment.

Dogecoin is a type of digital coin that is decentralized and facilitates peer-to-peer digital transactions. This means you can send money online with much ease. It is usually referred to as “the internet currency.”

READ: 3 Cryptos set to explode high

It is different from BTC’s proof-of-work protocol in many ways, one of which is the Scrypt technology. The fast-growing altcoin also has a block period of 1 minute, and the total supply is unlimited, meaning that there is no limit to the amount of Dogecoin that can be mined.

Sigma Pensions

“The recent rise of dogecoin, a meme coin, should serve as a reminder to everyone in the space that the most popular use case for crypto is still pure speculation,” said Anil Lulla, a former analyst at Bloomberg and co-founder of the cryptocurrency research firm, Delphi Digital.

british airways
Continue Reading

  





Nairametrics | Company Earnings

Access our Live Feed portal for the latest company earnings as they drop.