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Ethereum

Tether has not issued USDT on Ethereum since May: CTO Not Concerned

Stablecoin giant and crypto’s money-printing machine Tether has not issued a single USDT on the Ethereum network in the last 50 days as other stable assets gain ground in the market.

USDT Ethereum Issuance Dries Up

According to recent data, the last time USDT was minted on Ethereum was on May 31st, making it the longest time in history that the asset has not been issued on the network. The total value of minted ERC20 USDT now stands at $28.9 billion.

Tether (USDT) Minted. Source: DeBank
Tether (USDT) Minted. Source: DeBank

Low demand could have caused a halt to the production of new USDT on Ethereum. This is due to the high fees users pay for interacting with smart contracts. Tron charges significantly lower fees than other stablecoins, such as Omni and Binance Smart Chain (BSC), even though it is the most popular.

In April, Tron dethroned Ethereum as the dominant chain for USDT. At the time of writing, Justin Sun’s blockchain child houses over 31.9 billion minted USDT of the 62.3 billion coins in circulation.

USDC will Dethrone USDT on Ethereum

While USDT is losing ground in the Ethereum ecosystem due to its declining popularity, stablecoins like are seeing tremendous growth. The USD coin (USDC) has gained traction despite its high gas prices since the beginning of the year.

Data shows that USDC has recorded over 1,800% growth in 2021 alone as the circulating supply of the coin increased from 1.3 billion to 25.7 billion in the last seven months. This figure is only 3 billion short of Ethereum’s USDT.

Analysts believe that the total amount of ERC20 USDC will catch up and possibly surpass that of USDT sooner rather than later. A Messari report in late June revealed that USDC has been seeing a lot of interest, especially from DeFi users, and the increasing demand for the stablecoin could position it as a market leader on the Ethereum blockchain.

The report further suggested Tether’s share of the stablecoin supply on Ethereum will likely dip below 50% for the time, increasing USDC’s chance to take dominance.

Paolo Ardoino: We Don’t Mind to See Growth

Although USDT may lose its position on Ethereum as the largest stablecoin after seven years, Tether’s Chief Technology Officer (CTO), Paolo Ardoino, believes that the industry is healthy.

In a series of tweets yesterday, Ardoino noted that he is baffled whenever he reads reports that say “competitors are taking market cap from Tether.”

“Everyone takes from the king, not from the smallest. Duh… but click-baiting is even more important. He wrote that competition and diversification are crucial to success in any industry.

Furthermore, the CTO added that everyone at Tether is not only proud of the achievements but also flattered because the idea which they created in 2014 has turned into a competitive market. He believes that a greater representation of stablecoins will make it easier to reach fairer regulations.

“Believe it or not but ‘Let everyone grow so that the sum of all voices will be louder.’ is what will make stablecoin industry much more solid in the long run. Yes. We don’t mind seeing growth. We welcome everyone. Ardoino stated that everyone is welcome.

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Ethereum

Crypto Traders Invest $1.5M in 99Bitcoins Token Presale – Here’s Why It Could Explode

Crypto traders are going wild over a new project on Ethereum – 99Bitcoins Token.

This project has already raised over $1.5 million before its official launch.

With a unique “Learn-to-Earn” model and plans to bridge to the new BRC-20 standard, many believe 99Bitcoins Token (99BTC) could shake up the crypto education space.

99Bitcoins Token Transforms Crypto Education into a Learn-to-Earn Experience

99Bitcoins is one of the go-to platforms for new crypto investors looking to cut through the noise and learn the fundamentals.

Yet the platform is taking things to the next level with the launch of 99BTC.

This ERC-20 token is at the core of 99Bitcoins’ Learn-to-Earn model.

Instead of just passively reading articles, users can interact with courses, quizzes, and other activities.

Doing this will reward them with 99BTC tokens for improving their crypto knowledge.

It can be thought of as a gamified crypto education experience.

For example, a user could complete a module on technical analysis, ace the final quiz, and earn 99BTC as a reward.

Or they could dive into content on the DeFi space, with 99BTC tokens dished out along the way.

The possibilities are endless for turning crypto learning into earning with 99Bitcoins Token.

Their well-established brand is evolving from just simplifying crypto to actively incentivizing an entire community.

And with almost 20,000 Twitter followers, the excitement for this new approach to crypto education is clear.

99BTC Presale Raises $1.5M as Investor Demand Soars

The presale for the 99Bitcoins Token is in full swing, with over $1.5 million in funding already raised.

This level of demand highlights the hype that’s building for 99Bitcoins’ Learn-to-Earn platform.

After the presale ends, the developers will proceed with DEX listings to provide initial liquidity.

But the bigger milestone will be securing listings on major CEXs – which the developers hope will occur in Q4 2024.

One key advantage for those who invest during the 99BTC presale is access to the platform’s staking program.

Presale buyers can stake their 99BTC right away to earn yields as high as 1,125% per year.

As an example, if someone were to 10,000 99BTC tokens, they could earn over 112,000 additional tokens.

Although the yield will decrease as more tokens are staked, it presents a pathway for investors to generate passive income while improving their crypto skills.

This combination of passive income potential and educational value is proving to be attractive for investors.

Huge Airdrop Campaign & BRC-20 Bridge Fuel 99Bitcoins Token’s Growth

So, could 99BTC really explode after hitting the open market?

The signs seem to be pointing to yes.

For one, the development team has added to the buzz by launching an airdrop campaign that will give away $99,999 worth of BTC to early community members.

This shows their commitment to rapidly growing the 99BTC user base.

Even more exciting is the team’s plan to eventually bridge from Ethereum to Bitcoin as a BRC-20 token.

As the first crypto education project to leverage this new token standard, 99Bitcoins Token could position itself as a first mover in the space.

This ties into what might be 99Bitcoins Token’s biggest catalyst – the fact that no project has emerged as the “go-to” educational platform for crypto.

Despite a growing need for quality learning resources, the space still lacks an all-in-one hub for learning.

99Bitcoins could be that hub.

With an established brand, disruptive Learn-to-Earn model, and cross-chain vision, 99Bitcoins is well-positioned to fill the market gap.

And with 99BTC tokens priced at just $0.00106 during the current presale stage, there’s a growing sense that this could be a golden opportunity for investors.

Visit 99Bitcoins Token Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

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Ethereum

PEPE Soars to All-Time High Spurred by Speculation of Spot Ether ETF Approval

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Farcaster Secures $150M in Funding, Reaches $1B Valuation With Backing From Paradigm

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