• Latest
Bitcoin Climbs as Tether Gets $500M Injection in 5 Minutes

Bitcoin Climbs as Tether Gets $500M Injection in 5 Minutes

January 7, 2020
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Tech

Bitcoin Climbs as Tether Gets $500M Injection in 5 Minutes

coinnewsdaily by coinnewsdaily
January 7, 2020
in Tech
0
Bitcoin Climbs as Tether Gets $500M Injection in 5 Minutes
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Bitcoin’s price jumped $200 in an hour and a half on Monday, rising to a 30-day high of $7,800.

The world’s largest cryptocurrency by market capitalization climbed after the stablecoin tether (USDT) saw a major boost in market value.

The 5 percent rise in bitcoin’s (BTC) price was preceded by a $500 million increase in USDT’s market capitalization, from around $4.14 billion at 20:49 UTC to $4.65 billion at 20:54 UTC.

Tether’s treasury website currently reads a value of $4,776,470,463.76 in total market cap, reflecting the sudden surge in its market value.

Traders can deposit U.S. dollars with Tether Ltd., the issuer of USDT, and receive the stablecoin in return. Since USDT is pegged 1:1 to the dollar and is used to move money quickly between crypto exchanges, a swelling of its market cap can be interpreted as an increase in demand for digital assets, although some critics have accused Tether in the past of printing tokens out of thin air to manipulate the market.

Talks surrounding BTC’s use case as a safe haven asset are dominating investor channels amid the backdrop of the Iran/US tensions that have been ongoing since Jan. 3.

At the time of writing the Dow Jones Industrial Average (DJI) is up 0.25 percent while the S&P 500 (SPX) is up 0.35 percent. Crude oil (USOIL) has taken a small hit and is down 0.35 percent so the narrative of BTC being a safe haven asset during times of uncertainty remains unclear at this stage.

Other major cryptos such as ether and XRP are up significantly by 5.76 and 11.18 percent respectively while the market capitalization of the entire crypto market has risen more than $10 billion.

A spokesperson for Tether did not immediately respond to a request for comment.

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Credit: Source link

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
Tags: Crypto Tech
Share76Tweet48
Previous Post

Bitcoin as a Safe Haven? US-Iran Tensions Rekindle Debate

Next Post

Gemini’s Head of Risk on How Crypto Beats Traditional Finance

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building
Bitcoin

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
green gaming
Business

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
axie infinity: what are the minimum android phone requirements to play on mobile
Alt Coin

Axie Infinity: What Are the Minimum Android Phone Requirements to Play on Mobile

April 21, 2022
Load More
Next Post
Gemini’s Head of Risk on How Crypto Beats Traditional Finance

Gemini's Head of Risk on How Crypto Beats Traditional Finance

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$19,383.921.79%
  • ethereumEthereum(ETH)$1,055.063.77%
  • tetherTether(USDT)$1.000.12%
  • binancecoinBNB(BNB)$217.343.53%
  • rippleXRP(XRP)$0.3145701.35%
  • cardanoCardano(ADA)$0.4491441.51%
  • SolanaSolana(SOL)$32.473.52%
  • dogecoinDogecoin(DOGE)$0.0654932.76%
  • polkadotPolkadot(DOT)$6.73-0.15%
  • daiDai(DAI)$1.000.17%
  • tronTRON(TRX)$0.0652683.78%
  • Shiba InuShiba Inu(SHIB)$0.0000101.92%
  • leo-tokenLEO Token(LEO)$5.99-0.35%
  • matic-networkPolygon(MATIC)$0.4637466.78%
  • litecoinLitecoin(LTC)$50.91-0.17%
  • FTXFTX(FTT)$24.545.15%
  • OKBOKB(OKB)$12.163.76%
  • CronosCronos(CRO)$0.1133912.65%
  • chainlinkChainlink(LINK)$6.060.89%
  • stellarStellar(XLM)$0.1098554.10%
  • cosmosCosmos Hub(ATOM)$7.567.65%
  • algorandAlgorand(ALGO)$0.3064336.10%
  • moneroMonero(XMR)$113.243.04%
  • ethereum-classicEthereum Classic(ETC)$14.561.00%
  • bitcoin-cashBitcoin Cash(BCH)$100.501.48%
  • vechainVeChain(VET)$0.0222122.95%
  • Internet ComputerInternet Computer(ICP)$5.212.21%
  • tezosTezos(XTZ)$1.36-0.68%
  • filecoinFilecoin(FIL)$5.343.64%
  • theta-tokenTheta Network(THETA)$1.162.57%
  • ElrondElrond(EGLD)$50.697.38%
  • bitcoin-cash-svBitcoin SV(BSV)$51.58-1.99%
  • eosEOS(EOS)$0.912.56%
  • paxos-standardPax Dollar(USDP)$1.01-0.15%
  • makerMaker(MKR)$901.835.29%
  • AaveAave(AAVE)$56.554.36%
  • huobi-tokenHuobi(HT)$4.820.58%
  • iotaIOTA(MIOTA)$0.2624593.52%
  • zcashZcash(ZEC)$53.281.35%
  • basic-attention-tokenBasic Attention(BAT)$0.40327112.48%
  • neoNEO(NEO)$8.201.43%
  • zilliqaZilliqa(ZIL)$0.0392387.38%
  • wavesWaves(WAVES)$5.4311.53%
  • havvenSynthetix Network(SNX)$2.202.64%
  • dashDash(DASH)$41.701.10%
  • PancakeSwapPancakeSwap(CAKE)$3.023.85%
  • KusamaKusama(KSM)$47.966.04%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • nemNEM(XEM)$0.0379774.57%
  • ethlendAave [OLD](LEND)$4.103.48%
  • CompoundCompound(COMP)$46.545.32%
  • qtumQtum(QTUM)$2.753.52%
  • bitcoin-goldBitcoin Gold(BTG)$15.191.81%
  • omisegoOMG Network(OMG)$1.782.60%
  • golemGolem(GLM)$0.2340106.36%
  • ontologyOntology(ONT)$0.2325839.25%
  • SushiSushi(SUSHI)$0.970.51%
  • umaUMA(UMA)$2.549.39%
  • yearn-financeyearn.finance(YFI)$5,352.853.10%
  • digibyteDigiByte(DGB)$0.0090621.67%
  • UniswapUniswap(UNI)$2.4438.80%
Posting....