Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-hits-record-annual-peak-following-tethers-billion-dollar-minting" rel="noopener noreferrer nofollow">Bitcoin Hits Record Annual Peak Following Tether’s Billion-Dollar Minting</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-poised-for-rally-says-crypto-analyst-ali-martinez" rel="noopener noreferrer nofollow">Bitcoin</a>‘s value soared past $64,000, reaching a new high for the year. This surge aligns with an action taken by the <a href="https://en.bitcoinhaber.net/stablecoin-giant-tether-bolsters-bitcoin-reserves-amid-market-uncertainty" rel="noopener noreferrer nofollow">Tether</a> Treasury, which involved the creation of 1 billion <a href="https://en.bitcoinhaber.net/tether-treasury-expands-liquidity-with-1-billion-usdt-injection" rel="noopener noreferrer nofollow">USDT</a>, sparking conversations and drawing attention to the cryptocurrency markets.</p>
<h2 id="tracking-usdt-s-influence-on-bitcoin-s-performance">Tracking USDT’s Influence on Bitcoin’s Performance</h2>
<p style="text-align: justify">The blockchain monitoring service Whale Alert observed the minting of a substantial amount of USDT, prompting speculation about its potential impact on Bitcoin. Historical trends have shown that Tether’s minting activities often lead to upticks in Bitcoin’s market value. Earlier this year, Tether’s issuance of 2 billion USDT across a span of ten days corresponded with Bitcoin’s price rally, further raising expectations for the cryptocurrency’s volatility.</p>
<h2 id="clearing-the-air-tether-s-ceo-elucidates-strategy">Clearing the Air: Tether’s CEO Elucidates Strategy</h2>
<p style="text-align: justify">As market analysts mulled over the implications of Tether’s latest issuance, the company’s CEO Paolo Ardoino stepped in to clarify the situation. Ardoino stated that the newly minted 1 billion USDT was earmarked for future distribution needs and cross-chain transfers, refuting immediate market influence. Further illuminating the mechanics of blockchain operations, Ardoino’s remarks shed light on how digital currencies are strategically positioned across various blockchains in response to market needs, enhancing overall liquidity.</p>
<p style="text-align: justify">Tether is inching toward a $100 billion market valuation, with a commanding 70% market share in the stablecoin segment, as per DefiLlama’s data. The recent speculation surrounding the 1 billion USDT issuance, Bitcoin’s historic price rally, and Tether’s extensive market share all contribute to heightened intrigue in the cryptocurrency domain.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-hits-record-annual-peak-following-tethers-billion-dollar-minting" rel="noopener noreferrer nofollow">Bitcoin Hits Record Annual Peak Following Tether’s Billion-Dollar Minting</a></h5>

Bitcoin Hits Record Annual Peak Following Tether’s Billion-Dollar Minting

목차

BH NEWS

2024년 3월 4일에 게재된 다른 기사

Pepe Coin Price Rallies 70% As Binance Extends Support For PEPE

Australian Effie Awards 2024 Introduces AI Category – Revolutionizing Marketing Excellence

ICON Cross-Chain Framework and ICON General Message Passing (xCall)

Vitalik Buterin Reflects on Reddit’s IPO: Mixed Feelings About Regulations

New Concept in Web3 Social: UXLINK Launches its “RWS” System Architecture

Taiwan Sets September 2024 for New Cryptocurrency Regulatory Framework Proposal

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!