Ethereum is starting to lose ground to its competitors for USDT usage, and Hermez may help to fix that.
What is Tether? The Tether definition is fairly simple. Tether (USDT) is a stablecoin cryptocurrency, with each token aimed at tracking the value of 1 U.S. dollar. Assets pegged to the value of national currencies (fiat currencies) are called stablecoins. Participants can sell other cryptocurrencies for USDT to protect against volatility while maintaining the ability to send the asset to personal wallets or storage. Ethereum, as well as other blockchains, host USDT.
Trading a Bitcoin/Tether, or BTC/USDT, pair is an option on some crypto exchanges or platforms. Cointelegraph’s Tether Price Index shows various data on the asset, including its market cap, along with its price, which should remain close in value to the U.S. dollar.
The three largest stablecoins represent a combined capitalization of $60 billion.20485
Bitcoin’s long-to-short ratio has dropped to a five-month low, but bears are not taking the bait, suggesting bulls are still in control of BTC price.22578
Is a broader rally forming for Bitcoin as sidelined capital makes its way onto exchanges?31391
USDC has seen huge growth and is gaining fast on Tether, the king of the stablecoins.18407
The launch of parachain shards on Polkadot will also mean the release of Tether on the network.11831
Tether’s reserves for its USDT stablecoin exceed the amount required to redeem the digital asset tokens, according to auditing firm Moore Cayman.14172
Cryptocurrency exchanges continue accumulating massive amounts of stablecoins like Tether and USDC.10450
The market’s leading stablecoin, USDT, reached another major milestone as crypto demand continues to grow.7581
Tether's integration with the Solana blockchain is intended to help support a range of projects in DeFi, blockchain gaming and Web 3.0.21864
The USDT stablecoin issuer says it received a $23 million ransom demand payable by Monday. The deadline has since passed, and Tether isn't paying.19083
Though the Tether settlement may help bring in more transparency, experts believe that state-centric bans may not be the way out.25871
Longstanding sagas in crypto saw major plot development and even a conclusion or two in this week's newsletter.8796
New York regulators are forcing Tether to be fully transparent about its reserves, at the cost of not serving New York residents.15510
Economist Frances Coppola and senior commodity strategist at Bloomberg Mike MgGlone clash on everything Bitcoin.16741