USDT
Circle’s USDC stablecoin gobbles Tether’s market share with 50B milestone
The world’s second-largest stablecoin by market capitalization keeps on growing as it erodes the dominance of the current leader, Tether. The stablecoin landscape is a constantly-shifting dynamic but one trend has become clear over the past year or so — Tether’s dominance is diminishing. Its main rival, Circle, has just reached a milestone of 50 billion USDC in circulation according to CoinGecko and a Feb. 1 tweet by company co-founder and CEO, Jeremy Allaire. 50 BILLION USDC (w/ thread below) pic.twitter.com/5FEaPmXjup — Jeremy Allaire (@jerallaire) February 1, 2022 Allaire said that while this is a massive number, “it’s the massive growth and ecosystem around it that tells the broader story.” He added that USDC has seen 10,000% growth over the past two years. The total stablecoin s...
Strike wallet is 5th most popular finance app in Argentina, but where’s the BTC?
Strike’s digital wallet has become the fifth most popular finance app in Argentina within a week of its launch. The firm, led by hoodie-wearing CEO Jack Mallers, rolled out its crypto payment services for the Argentinian market on Jan 12. Strike is famed for enabling Bitcoin (BTC) payments via the Lightning network, particularly in El Salvador. However, according to local media and user reports, the firm’s app in Argentina reportedly currently only supports the use of Tether’s stable coin USDT for transfers via Lightning. Users are able to purchase Bitcoin via the app though, and send it to a third party wallet. Mallers tweeted on Jan. 18 that Strike’s app is currently ranked as the fifth-highest finance app and the top new app overall on the Argentinian Apple app store, as he emphasized t...
Tether freezes $150 million in USDT
Tether has added three more Ethereum addresses, holding more $150 million worth of the USDT stablecoin between them, to its blacklist. As a centralized company, Tether is able to blacklist addresses it believes are involved in crime, money laundering — or for any other reason it chooses. This is the first time Tether has blacklisted an address in 2022 but it added 312 addresses to the blacklist last year and has added 563 all up since it first did so on Nov. 28, 2017. Tether has not revealed why the three new addresses were blacklisted, however it has used its power to blacklist addresses involved in cyber attacks and law enforcement investigations. Following the Kucoin hack in Sep. 2020, Tether froze about $35 million USDT to prevent hackers from capitalizing on their theft. There may als...
Avalanche eyes 60% rally as AVAX price breaks out of bull flag
Avalanche (AVAX) strengthened its case for a potential upside run towards $160 in the coming sessions as it broke out of a classic bullish pattern earlier this week. Dubbed “bull flag,” the pattern emerges when the price consolidates lower/sideways between two parallel trendlines (flag) after undergoing a strong upside move (flagpole). Later, in theory, the price breaks out of the channel range to continue the uptrend and tends to rise by as much as the flagpole’s height. AVAX went through a similar price trajectory across the last 30 days, containing a roughly 100% flagpole rally to nearly $150, followed by over a 50% flag correction to $72, and a breakout move above the flag’s upper trendline (around $85) on Dec. 15. AVAX/USD daily price chart featuring Bull Flag ...
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