Bitcoin (BTC) inflows to centralized exchanges have surged, prompting bearish speculation that the crypto markets could be building up to a violent wash-out. Lex Moskovski, chief investment officer of Moskovoski Capital, shared data showing that 22,917 BTC was transferred onto centralized exchanges in a single hour on Tuesday. Moskovski noted the hourly inflow was the largest since the March 2020 “Black Thursday” crash. 22,917 #Bitcoin in a single hour were deposited to exchanges yesterday. This hourly inflow is rivaled only by the March, 2020 crash. People are scared. pic.twitter.com/uH4lBL6Onk — Lex Moskovski (@mskvsk) May 18, 2021 With outflows from exchanges …

The founder and CEO of Avanti Financial is claiming Tether’s recent disclosure about the stablecoin's reserves may have contributed to the altcoin selloffs last week. In a series of Saturday tweets, Caitlin Long said that Tether Holdings Limited’s breakdown of Tether’s (USDT) reserves were not invested in “short-term, lower-risk, liquid securities,” but rather credit assets of “who-knows-what quality.” The Avanti CEO claimed traders may have felt compelled to sell other cryptocurrencies to reduce their total risk exposure, given that the stablecoin — ranked sixth with a $58 billion market cap — has the potential to bring down other tokens amid …

Tether Holdings Limited, the company behind the popular Tether (USDT) stablecoin, released a full breakdown of its reserves on Thursday, offering more transparency about the composition of its assets. More than three-quarters of Tether’s reserves are held in cash, cash equivalents, other short-term deposits and commercial paper as of March 31. Within this category, commercial paper accounts for 65.39%, fiduciary deposits for 24.20%, cash for 3.87%, reserve repurchase agreement notes for 3.6% and Treasury bills for 2.94%. Beyond this category, secured loans accounted for 12.55% of Tether’s reserves. Corporate bonds, funds and precious metals represented 9.96%, and “other investments,” including …

The circulating supply of the four-largest stablecoins has spiked to new all-time highs, suggesting buyers could soon spark another leg up for the Bitcoin and crypto markets. The combined capitalization of Tether (USDT), USD Coin (USDC), Binance USD (BUSD), and Dai (DAI) has surged almost 190% from $27 billion to almost $78 billion since the beginning of this year. In its May 3 Week on Chain report, on-chain analytics provider, Glassnode, noted that Tether is firmly positioned as the stable token sector’s leader, representing two-thirds of the top four stablecoins’ combined capitalization. USDT’s total minted supply hit an all-time high …

At more than $52 billion, the market capitalization of meme-based cryptocurrency Dogecoin (DOGE) has already passed that of Twitter, U.S. car manufacturer Ford, and now, Tether. According to data from AssetDash, the market cap of Dogecoin is $52.5 billion, more than $400 million higher than that of Tether (USDT) at $52 billion. The token has already surpassed Ford's and Twitter's market capitalization at $45.1 billion and $43.1 billion, respectively. The weeklong surge in DOGE price follows crypto-friendly trading platform eToro announcing it will begin listing Dogecoin. In a statement to Cointelegraph, a representative for eToro said the platform had added …

A crypto payments platform has undergone a rebrand — and has launched a new suite of easy-to-understand applications that are designed to deliver innovation in decentralized finance. Mimo is a new protocol that serves as a successor for TenX, which captured the imagination of early adopters by allowing them to complete crypto transactions anywhere using a card. Much of the foundational technology used to build TenX is now being implemented in Mimo, which aims to bring exciting new features to the DeFi space. At the center of its offering is Parallel (PAR), which has been billed as the first decentralized …

Bitcoin (BTC) and other cryptocurrencies have opened the doors to a whole new world of finance. In their most basic form, cryptocurrencies allow people to transact in a fully trustless, transparent and efficient manner, cutting out the centralized intermediaries and counterparty risk previously associated with digital money transfers. Thanks to blockchain technology, value can now be transferred on a worldwide scale within seconds/minutes and with relatively low fees — and that’s not all. However, Bitcoin and Ether (ETH) are still too volatile to be used as currency, a factor that has hindered their mass adoption. Although Bitcoin and blockchain technology …

More USD Coin (USDC) was printed on April 30 than at any time in the dollar-backed stablecoin’s existence, as just over $3 billion was minted in one fell swoop. New USD Coins are minted whenever a customer exchanges their U.S dollars for the stablecoin, and Friday’s influx amounted to over 26% of its market cap at the time. The sudden arrival of $3 billion worth of USDC into the cryptocurrency market coincides with a surging altcoin market, evidenced by Bitcoin’s (BTC) descent to its lowest market cap dominance in two and a half years. Bitcoin’s dominance of 47.79% on Friday …

Moore Cayman, a Cayman Islands-based accounting network, has again affirmed that Tether Holdings Limited’s USDT stablecoin tokens are fully backed by its reserves. In the latest report, signed on March 31 and released Thursday, Moore Cayman confirmed that Tether’s consolidated assets exceeded its liabilities. “In our opinion, the [Consolidated Reserves Report] by the management of Tether HOldings Limited group as of 31 March 2021 at 11:59 PM UTC, is presented in accordance with the criteria set out therein and is, in all material respects, fairly stated,” the report read. The independent evaluation found that Tether’s total consolidated assets were valued …

The market capitalization of Tether (USDT), the world’s largest stablecoin, zipped past $50 billion on Monday in a sign that the cryptocurrency bull market is still heating up. Tether Operations Limited confirmed the milestone on Monday, with roughly 50 billion USDT now reported to be in circulation. Tether’s supply — and hence, its market capitalization — has grown by more than a factor of 10 over the last 12 months. That includes 25% growth in the span of a month. As a U.S. dollar-backed stablecoin, 1 USDT is equivalent to $1 in assets held by Tether. “Crossing a market cap …

The United States’ largest cryptocurrency exchange, Coinbase, is listing Tether (USDT) on its professional trading platform. According to a Thursday announcement, Coinbase Pro has enabled USDT deposits ahead of the trading launch scheduled for Monday. The company said that trading will begin if liquidity conditions are met, stressing that Coinbase only supports the ERC-20 version of USDT running on the Ethereum blockchain. “Once sufficient supply of USDT is established on the platform, trading on our BTC-USDT, ETH-USDT, USDT-EUR, USDT-GBP, USDT-USD and USDT-USDC, order books will launch in three phases, post-only, limit-only and full trading,” Coinbase wrote. Coinbase emphasized that USDT …

Tether (USDT) has now launched on Hermez Network, an Ethereum scalability solution based on the zk-rollup concept. Rollups provide a way of batching or “rolling up” transactions to lighten the load on the Ethereum network. The key to rollups is the concept of data availability, which means that the state data of the rollup is always fully available on-chain. In practice, this means that the Ethereum network knows the token balances of all user accounts on the Hermez rollup after every transaction, and this knowledge can be used to rapidly withdraw funds and distribute them to their new owners in …