Connect with us

Bitcoin

Charlie Lee Suggests The Newly Printed Tether (USDT) are Signs Of a Bullish Crypto Market

Published

on

Tether
READ LATER - DOWNLOAD THIS POST AS PDF

Some $250 Million worth of Tether (USDT) were minted just yesterday on the 25th of June. This has enabled the stable coin to leap past Tron (TRX) on coinmarketcap and according to market capitalization.

Tether (USDT) Edges out Tron (TRX) on coinmarketcap.com

The first to note the new USDT addition was the FOMO Bot on Twitter which posted the following:

Charlie Lee, the founder of Litecoin (LTC) was quick to comment on the newly minted USDT and had this to say:

Mr. Lee suggested that whenever Tethers were printed, the markets generally went up. Perhaps this is why a pair of researchers at the University of Texas (Austin) believed that USDT was used to prop up the price of Bitcoin (BTC) whenever the markets were in turmoil.

Charlie Lee’s observation hints at another way Tethers are used by crypto traders. When they deposit regular fiat in the form of USD, they get USDT in exchange. USDT is the de-facto digital version of the US Dollar in cryptocurrency exchanges. This is the current method of representing the USD on the blockchain. What then happens is that traders buy Crypto with the USDT. Charlie Lee also cautioned that the buying might not be right away and that all traders should do their own research before coming to any conclusions about the crypto markets.

With respect to the cryptocurrency markets, the panic that was experienced from last Friday has somewhat subsided. The total market capitalization has remained steady at levels above $250 Billion. The figure now stands at $252 Billion with Bitcoin (BTC) increasing its dominance to 42%. Normally, this dominance is stable at 37%. This means that in times of turmoil, many traders either cash out or buy some more BTC which seems to be a stable option to the numerous alt-coins out there.

However, many crypto analysts believe that we are not out of the woods yet. They believe that Bitcoin (BTC) might decline a bit further in the coming weeks as the correction comes to an end. After that, is when we will see the much awaited bullish crypto market.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

Continue Reading

Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

Published

on

Hodium
READ LATER - DOWNLOAD THIS POST AS PDF

I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

Continue Reading

Bitcoin

Behold The Cryptopreneurs – Overcoming The Obstacles Facing The Blockchain Industry

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

Integrating blockchain technology is fast becoming a necessity for enterprise ventures and small or large businesses, but with a growing number of choices in the tech revolution, it’s difficult to pick a direction without feeling overwhelmed or taken advantage of. This is where BEHOLD THE CRYPTOPRENEURS comes in.

Private keys, the myth of anonymity, and the battle against anarchist ideology are only a few of the difficult challenges faced by businesses that want to incorporate blockchain into their culture. Author Dennis H. Lewis guides the reader through those challenges and helps them discover the true potential of investing in this new economic paradigm.

Every business has pain points that must be overcome in order to branch out and thrive in an ever-changing commercial environment. Blockchain has real world solutions and cryptopreneurs are not limited to the cryptocurrencies they invest in but rather how they seize economic and technological opportunities to make it work for them.

Innovation, trust, and solutions can differentiate your business from all the noise, but without a solid marketing plan, a cryptopreneur can have the best idea and never get far. Remember: a million great ideas times zero market presence equals zero success.

Investors want to know there is public interest and enthusiasm in a project before they commit any money to it. As a cryptopreneur, you are tasked with generating that interest from the…

Continue Reading

Elite