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Bitfinex Tackle Tether & List Four New Stablecoins

Bitfinex, one of the world’s leading cryptocurrency exchanges have listed four new stablecoins according to reports, in an attempt to shred some of the growing market share of Tether. Over the past day, the market capitalisation of Tether has shot up, suggesting that more USDT Tokens have entered the markets, something that is likely to have caused the recent plunge in the price of Bitcoin. By listing further stablecoins, investors that use Bitfinex are given access to further alternatives, meaning they won’t be forced to choose between USDT or DAI (the two stablecoins currently active on the Bitfinex exchange). This...

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One Stablecoin To Rule Them All - USDT vs TrueUSD

2018 has been famous in crypto for two things - a hard-hitting bear market and the rise of stablecoins, making cryptocurrency investment for the masses a far more attractive concept. Many believe that stablecoins will eventually lead to cryptocurrency adoption, as, in order to sell crypto to the mainstream, a currency that is balanced and pegged to a familiar asset needs to be used, otherwise, people will get confused with changing prices. Using a stablecoin means a direct price switch can be made, so $100.00 worth of FIAT can be transferred into $100.00 worth of stablecoin, and that $100.00 will...

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What Can We Learn From Tether?

Tether is the biggest stablecoin in the world by market cap and is one of the most traded cryptocurrencies in existence too. The premise of Tether is that it allows investors to purchase other cryptocurrencies like Bitcoin, in a token that is as close to the US Dollar as possible, meaning they can make safer crypto to crypto exchanges that aren’t as exposed to volatility as say, an Ethereum to Bitcoin exchange might be. After it was initially created by a former actor Brock Pierce, is a crypto entrepreneur and some other venture capitalists first launched on major fiat crypto...

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The Race Of The Stablecoins

Stablecoins, though rare, are now starting to appear more regularly across the market. The most-traded stablecoins at present, include Tether, TrueUSD and USD Coin, all of whom are currently relishing in high market capitalisation. In first place is Tether with a market cap of over 1,915,000,000, in second is TrueUSD with a market cap of $179,045,088 and in third place is USD Coin $126,491,038. These are the top three stablecoins on the market at the current time of writing and yet it’s clear which stablecoin is a clear leader. Tether aims to keep it’s called USDT on the same level...

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Over 500 Million USDT Burned By Tether

The company behind the largest Stablecoin in existence, Tether recently revealed through Twitter that they redeemed over 500 million USDT tokens from the Tether treasury wallet. According to the press release published on October 24th this year, the company will leave the remaining 466 million USDT in the wallet to prepare for future USDT issuances. According to Tether, the USDT tokens that are no longer here consisted of over 50% of their former supply. The redemption of the tokens can be seen on the OMNI blockchain Explorer, which confirms a transaction date of 500 million Tether in block 547,155. Tether...

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