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The best stablecoin choice: Tether (USDT), vs USD(coins),

Due to the volatility of many cryptocurrencies, stablecoins were created. These assets are tied to external assets, mainly fiat currencies. Tether and USD coin are tied to the USD and rank higher among all stablecoins. They are also listed on almost every exchange, wallet, and dApp. USDT is the first cryptocurrency to be created. It…

Due to the volatility of many cryptocurrencies, stablecoins were created. These assets are tied to external assets, mainly fiat currencies. Tether and USD coin are tied to the USD and rank higher among all stablecoins. They are also listed on almost every exchange, wallet, and dApp.

USDT is the first cryptocurrency to be created. It was issued in to Tether Limited to incorporate fiat into the cryptospace. It is the most traded on the market and has the largest market cap. It’s used for trading and settlement transactions on various blockchains that it is compatible with. To avoid volatility and earn rewards, you can convert other cryptocurrencies to USDT.

USDC was the stablecoin that Circle Internet Financial and Coinbase created. It was launched in 2018. Centre Consortium manages transparency and stability. It was implemented using Ethereum blockchain. As such, it is available for use by many dApps. It is now very popular in DeFi, where it can be used to lend and save high yield.

Both stablecoins are governed by a central authority. They also have a fluctuating price. Both coins have exhausted their supply as of today. In May 2019, USDC, the price of each coin was $1. 17 costs $0. 99 is right now. USDT is $1 right now, but has an ATH of $1. 32 July 2018.

The most traded cryptocurrency with a market capital of $78.2billion, USDT being the closest with a $31 trillion difference. Both are available on Ethereum, Algorand and Solana. However, USDT is compatible with Tron and EOS as well as OMG, SLP and Bitcoin blockchains. Grant Thornton inspects USDC monthly, and USDT is audited annually by Freeh Sporkin & Sullivan LLP.

The exchange will play a role in choosing the best USD variant. USDC, however, is a better investment because it is stable, regulated and regularly audited. Regardless of how stable crypto investment may seem, it is extremely risky. Make sure you do your homework and make wise decisions.

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Bitcoin

Former Coinbase Business Developer: ‘There Wasn’t a Long-Term Case for Bitcoin Payments’

Nick Tomaino, a former business developer and marketing lead at Coinbase, explained how the idea of bitcoin for payments gradually lost its relevance in the market. Tomaino detailed that Coinbase rode this premise back in 2014 to raise $125 million in two funding rounds, but it was quickly clear that there was not a case [……
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Bitcoin

Japanese Corporation Metaplanet Acquires More Bitcoin, Stock Price Soars

Metaplanet, a publicly traded corporation on the Tokyo Stock Exchange, has announced an investment of 23.351 bitcoins, with an average purchase price of 10,706,180 yen per BTC, totaling 250 million yen ($1.6 million). The company now holds 141.0727 bitcoins, with an average purchase price of 10,278,391 yen per BTC…
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Bitcoin

BTC slips amid poor debut for Hong Kong spot ETFs

Bitcoin fell to under $62,000 after spiking past $64,700 earlier as Hong Kong spot Bitcoin and Ethereum ETFs began trading. Data showed trading volumes hit just over $11 million, against expectations of over $3oo million. Bitcoin price fell below $62,000 again amid market reaction to less than encouraging numbers from the first day of trading…


  • Bitcoin fell to under $62,000 after spiking past $64,700 earlier as Hong Kong spot Bitcoin and Ethereum ETFs began trading.
  • Data showed trading volumes hit just over $11 million, against expectations of over $3oo million.

Bitcoin price fell below $62,000 again amid market reaction to less than encouraging numbers from the first day of trading for much hyped spot Bitcoin and Ethereum ETFs in Hong Kong.

BTC was down about 1.4% at the time of writing, having touched lows of $61,587 across major crypto exchanges.

The benchmark cryptocurrency, which has struggled to reclaim key levels since its recent halving event, was seeing a 24-hour trading volume of $28.4 billion.

Bitcoin price and Hong Kong spot ETFs debut

Earlier, Bitcoin price surged to above $64,000 as the six spot Bitcoin and spot Ethereum ETFs went live in Hong Kong.

The flagship cryptocurrency rose to over $64,727 on US-based crypto exchange Coinbase. BTC also soared after reports Hong Kong approved the listing of the ETFs.

NEW: 🇭🇰 Opening ceremony of Hong Kong spot #Bitcoin ETFs 👏 pic.twitter.com/ux1eb5PqRn

— Bitcoin Magazine (@BitcoinMagazine) April 30, 2024

However, as data streamed in showing disappointing trading volumes and inflows, Bitcoin price took a hit. According to details of the six ETFs’s debut day, total trading volume reached just $11 million, not impressive given projections were much higher at over $300 million.

Bitcoin ETFs saw about $8.5 million while Ethereum ETFs recorded just $2.5 million on the first day. Ethereum price fell to $3,040.

Notably, the figures from Hong Kong are way lower compared to those recorded amid the enthusiasm that greeted the launch of spot Bitcoin ETFs in the US in January. On their debut, the US spot BTC ETFs raked in over $4.6 billion in trading volume.

The start to trading for the ETFs has not helped BTC price and BTC could face a slide under the $60k level if sentiment flips negative. On the upside, resistance at $65k remains critical and a breakout could see the bellwether digital asset soar towards its recent peak.


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