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Bitcoin will continue appreciating, although at a slower pace than in the past, Bloomberg analyst explains

Mike McGlone, Senior Commodity Strategist at Bloomberg, is convinced Bitcoin will continue to appreciate thanks to its fixed supply coupled with increasing demand. “I don't see what make it stop doing what been doing for the last 10 years. And that's going up”, he told Cointelegraph in a recent interview. McGlone sees Bitcoin’s capped supply as the main feature. He said that this potentially makes it a better store of value than gold,...

‘USDT Will Continue to Exist Alongside CBDCs’

Paolo Ardoino, Chief Technology Officer (CTO) of Bitfinex and Tether, says recent pushes for governments to adopt regulatory paths towards central bank digital currencies won’t adversely affect stablecoins like Tether.“In the long term, we believe that Tether will continue to exist alongside CBDCs,” the Tether CTO said to Cointelegraph, citing the token’s performance on several different blockchains including Algorand, Ethereum, EOS, Liquid Network, Omni and Tron. “Tether will remain in demand as it...

JPMorgan’s Blockchain Offshoot Kadena Gets First Ever Token Listing

Bittrex Global, one of the world’s most popular platforms for trading cryptocurrencies, is about to become the first crypto exchange to list a token by JPMorgan’s blockchain spin-off Kadena.Kadena token (KDA), is finally getting its first official listing on June 25. While token deposits on KDA wallets on Bittrex are available immediately, the trading is set to open on June 26 at 10:00 a.m. EST.At the initial launch, KDA will be trading against...

Turkish Real Estate Firm Antalya Homes Now Supports Bitcoin Payments

Turkish real estate firm Antalya Homes announced that its customers can now pay for properties listed on its platform with Bitcoin (BTC).According to a June 15 announcement, Antalya Homes claims to have recorded the highest-valued real estate sale ever made while using Bitcoin as a payment in Turkey.Per the company, the coronavirus pandemic forced the real estate industry to innovate. More precisely, Antalya Homes reacted by offering virtual home tours and adding support...

Bittrex and Poloniex Targeted in Class-Action Crypto Manipulation Suit

The plaintiffs behind a class-action alleging that Bittrex and Tether drove the 2017 bull run through market manipulation have requested the issuance of summons to exchanges Bittrex and Poloniex. The lawsuit, first filed in October 2019, alleges that veteran cryptocurrency exchange Bitfinex and its sister company Tether inflated the supply of Tether’s USDT stablecoin without proper US dollar backing to drive up crypto prices during 2017’s all-time high. The suit is on behalf of...

Tether Integrates With Plasma Sidechain to Reduce Load on Ethereum

Bitfinex’s Tether (USDT) stablecoin is now available on the OMG Network, a plasma-based Ethereum sidechain launched on June 1 by the project formerly known as OmiseGo.The integration, also announced on June 1, marks the first time that Tether integrated an Ethereum sidechain to boost its performance. Tether is by far the largest “gas guzzler” on the Ethereum network at 8,900 ETH (about $1.84 million) in fees spent last month, according to ETH Gas...

Tether Launches on Bitcoin Cash Network

The world's biggest stablecoin has launched on the Bitcoin Cash network.Tether (USDT) has seen a surge of interest in recent weeks due to the global flight to safe havens and now has a market cap greater than $5.7 billion. More than $180 million was minted in recent days, preceding Bitcoin’s remarkable price spike in the past 24 hours.USDT will now be available on the Bitcoin Cash network. It is also available on...

Stablecoins Gain Market Share Amid Crypto Bloodbath

While most cryptocurrencies have seen their market capitalization slashed over the past month, the market meltdown has seen stablecoins ascend the market cap rankings. As of press time, six stablecoins currently reside among the top 50 crypto assets by capitalization.USDT ranks fourth The largest-stablecoin by capitalization, Tether (USDT), currently ranks as the fourth-largest cryptocurrency with a market cap of $4.66 billion. Despite the total USDT market cap growing by just 0.5% in four weeks,...

Circle’s USD Coin Sees Major Growth After Market Downturn

As Bitcoin (BTC) and the cryptocurrency market at large experience a major downturn, people turn to stablecoins in an attempt to preserve their capital. Some stablecoins have grown more than others, however.Stablecoin marketcaps are generally expected to increase after a major cryptocurrency market downturn. However, this is not what happened for most stablecoins during the past week.According to data from Coin360, Bitcoin has fallen from a height of nearly $8,000, down to...

Tether Looks to Catch Up in DeFi With Aave Integration

Tether (USDT) is now available on Aave, a non-custodial lending platform formerly known as ETHLend. The top stablecoin by market capitalization appears to be signaling its move into Ethereum (ETH) decentralized finance (DeFi).Tether shared an announcement on the development with Cointelegraph on March 10. USDT Aave’s existing offering of DAI, USDC, TUSD and sUSD stablecoins.What is Aave up to?Aave’s platform lets users borrow and lend the coins it supports at a certain...
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