2336 cryptocurrencies
Total Market Cap $7,311,462,399,473,173
Total Volume 24h $360,338,529

Tether Tether star

-0.0019 (-0.19%)

USDT is a cryptocurrency asset issued on the Bitcoin blockchain via the Omni Layer Protocol. Each USDT unit is backed by a U.S Dollar held in the reserves of the Tether Limited and can be redeemed through the Tether Platform. USDT can be transferred, stored, spent, just like bitcoins or any other cryptocurrency.

USDT and other Tether currencies were created to facilitate the transfer of national currencies, to provide users with a stable alternative to Bitcoin and to provide an alternative for exchange and wallet audits which are currently unreliable. USDT provides an alternative to Proof of Solvency methods by introducing a Proof of Reserves Process.

In the Tether Proof of Reserves system, the amount of USDT in circulations can be easily checked on the Bitcoin blockchain via the tools provided at Omnichest.info, while the corresponding total amount of USD held reserves is proved by publishing the bank balance and undergoing periodic audits by professionals.


Bitcoin Reclaims $6,600, Altcoins Gain up to 9% Today as ETF Giant BlackRock Eyes Crypto

Jul 16th, 2018

Bitcoin has reclaimed the $6,600 price point, amid a major market rally bolstered by news that the $6.3 trln asset management behemoth BlackRock is eyeing crypto. Crypto markets are on an upswing today, July 16, as data from Coin360 shows, with Bitcoin (BTC) reclaiming the $6,600 price point. Today's notable market growth is likely bolstered by news that the $6.3 trillion asset management heavyweight BlackRock -- the world's largest provider of exchange traded-funds (ETF) -- is beginning to assess potential involvement in Bitcoin, according to reports from Financial News. Market visualization from Coin360 Today's solid market gains are poised to turn around negative momentum that has thwarted price performance since market descent that began July 10. Yesterday saw the first signs of a budding positive trend, and as of today, virtually all of the top 100 coins by market cap are seeing significant growth on the day to press time. Bitcoin is trading around $6,607, up a little over 4 percent over the 24-hour period to press time. The top cryptocurrency gained over $200 in the space of a few hours this morning, hitting a peak of $6,635 before falling slightly to its current position. Bitcoin is still down around one and a half percent on the week, yet to top its outstanding rally July 8 when the coin hit almost $6,800. Bitcoin price chart July 16. Source: Cointelegraph Bitcoin Price Index Leading altcoin Ethereum (ETH) is trading around $474 to press time, up over 6 percent over the past 24 hours to press time. The coin's strong ascent has not yet brought its mid-term price performance back into net positive territory, with its weekly and monthly losses still at 1.25 and 4.8 percent respectively. Following Bitcoin's spike, Ethereum also saw a sharp upward turn earlier today, growing about 4.6 percent in two and a half hours to peak at $475, before proceeding to trade sideways to press time, holding today's gains so far. Ethereum price chart July 16. Source: Cointelegraph Ethereum Price Index On CoinMarketCap's listings, all of the top 10 coins by market cap -- excluding stablecoin Tether (USDT) -- have seen impressive gains of between 4 and 9 percent over the past 24 hours to press time. Of the top 100 ranked crypto assets, just five are in the red, including Tether. EOS is the strongest performer of the top ten cryptocurrencies over the 24-hour period, up a hefty 8.55 percent and trading at $7.75 to press time. EOS 24-hour performance. Source: CoinMarketCap Other sweeping gains have been claimed by Stellar (XLM), Cardano (ADA) and IOTA (MIOTA) -- all of which have seen positive growth of 7-8 percent over the 24-hour period, according to CoinMarketCap. Total market capitalization of all cryptocurrencies is now at around $266.9 billion to press time, gaining over $12 billion on the day. The markets are nonetheless just shy of their intra-weekly high of $274.7 billion in the early hours of July 10. Weekly high in the total market capitalization of all cryptocurrencies from CoinMarketCap Today's significant news from BlackRock is likely to invigorate the narrative that institutional investors have been biding their time to enter the cryptocurrency markets at an opportune moment. Over the weekend, CNBC trading advisor Ran Neuner went so far as to venture that once the institutional behemoths are in, 2017's bull run for crypto would come to "look like a warm-up." Ran Neuer has today added today that the indications that BlackRock could now enter the crypto space potentially heralds an "exciting" and transformational moment for the markets -- a position that echoes the long-held view that crypto-based ETFs would be a 'holy grail' for the crypto industry. In its own bid to provide infrastructure to facilitate institutional entry, major U.S. crypto wallet provider and exchange service Coinbase has said that it expects that such moves -- rapidly being mirrored across the crypto space -- will "unlock" the "$10 billion" of institutional capital that has until now been "sitting on the sideline."

$22 Billion Wiped Out of Crypto Market in 24 Hours as Bitcoin Drops to $6,400

Jul 10th, 2018

The valuation of the crypto market has dropped by $20 billion over the past 24 hours, as bitcoin dropped to $6,400. Since early morning, the crypto market recorded a steep fall from $274 billion to $252 billion, demonstrating a 7 percent decline in value. The drop of bitcoin from $6,700 to $6,400 caused other major digital assets and small tokens to experience intensified movements on the downside. While bitcoin lost 5 percent of its value, the price of ether, the native cryptocurrency of the Ethereum blockchain protocol, dropped by more than 10 percent. On July 9, the price of ether hovered at around $480. Over the last 12 hours, the price of ether dropped to $430, dragging tokens and small cryptocurrencies with it. Yesterday, CCN reported that a fall to the lower end of $6,000 is inevitable due to the low volume of bitcoin and other major digital asses. CCN's crypto market report on July 9 read: "Generally, high profile investors and experts in the cryptocurrency sector believe that a surge beyond the current all-time high of BTC at $20,000 by the end of 2018 is highly likely, but another fall below the $6,000 mark is inevitable." Last week, the volume of bitcoin slightly recovered to around $5 billion, after dipping below the $3.5 billion mark. This week, the volume of bitcoin dropped back down to $3.9 billion, while the volume of Tether rose from $1.6 billion to $3 billion. Often, a spike in the volume of Tether (USDT), a stablecoin whose value is hedged to that of the US dollar, signifies extreme volatility in the crypto market and the movement of traders from major digital assets to fiat currencies out of concerns that the market will continue to fall in the short-term. In the upcoming days, if the price of bitcoin fails to immediately rebound to the $6,700 in the next 24 hours, a drop to $6,000 is highly likely. Already, tokens like Ziliqa, Aion, ICON, 0x, and Aelf, which recorded strong gains against both bitcoin and the US dollar throughout this year, have started to fall by large margins. Any negative news in a bear cycle can intensify the movement of a major digital asset or token on the downside. MyEtherWallet, a popular open-source cryptocurrency wallet that supports ether and the ERC20 token standard, reported that the Hola chrome extension was hacked, logging user activity on MEW. "If you have Hola chrome extension installed and used MEW within the last 24 hrs, please transfer your funds immediately to a brand new account. We received a report that suggest Hola chrome extension was hacked for approximately 5 hrs and the attack was logging your activity on MEW," the MyEtherWallet team reported. The MEW-Hola case likely did not have a major impact on the price of ether. But, in a downward trend, negative news tend to worsen the drop of cryptocurrencies.

Total Market Cap See Slight Decline, Bitcoin Keeps Holding Its Position

Jul 29th, 2018

Sunday, July 29: crypto markets have seen diverging trends over a 24 hour period, with nine out of the ten top cryptocurrencies by market cap slightly in the green, according to Coinmarketcap. Market visualization from Coin360 Bitcoin (BTC) is slightly up by less than one percent over the past 24 hours and is trading at around $8,206 at press time, with an intraday high of $8,285. The major cryptocurrency reached as high as $8,431 this week, following the crypto market rebound that started in mid-July. Holding the some of the biggest gains among the top ten coins over the past week, Bitcoin is now up almost 39 percent over the past month. Bitcoin 1 month price chart. Source: Cointelegraph Bitcoin Price Index Bitcoin's market dominance over altcoins also keeps growing, currently amounting to almost 47.5 percent. Percentage of Total Market Cap (Dominance). Source: Coinmarketcap Ethereum (ETH) is down a negligible percentage over a 24 hour period, trading at around $466 at press time. The top altcoin keeps fluctuating around $460, having seen its intraday high of $470. Over the past week, ETH reached its peak of $483 on July 25. Ethereum weekly price chart. Source: Cointelegraph Ethereum Price Index Total market cap is hovering around $297 billion by press time, after touching $304 billion earlier this week. Total market capitalization chart. Source: Coinmarketcap TRON (TRX) has seen the biggest gains over the past 24 hours, gaining almost 8.5 percent by press time. This week, the altcoin has broken into the top ten coins by market cap, with its market cap having surpassed that of Tether (USDT). At press time, TRX's market cap amounts to around $2.6 billion, while Tether's market cap has fallen from its intraweek high of $2.7 billion to a current $2.5 billion, according to Coinmarketcap. Earlier this week, on July 26, the U.S. Securities and Exchange Commission (SEC) officially rejected the Winklevoss twins' petition looking to review the previous rejection of their Bitcoin exchange-traded fund (ETF) in March 2017. Subsequently, SEC Commissioner Hester M. Peirce published an official dissent of the second rejection of the Winklevoss' application. Peirce argued that the financial regulator has overstepped "its limited role" since it focused on the features of the underlying BTC market, rather than the derivatives that the applicant intended to list. On July 27, Nasdaq held a private meeting with representatives from both traditional finance and crypto industry firms to discuss a way to "get the [crypto] industry on the path to legitimacy."

Crypto Markets Slump Following SEC Bitcoin ETF Delay

Aug 8th, 2018

Crypto markets are in the red today following an announcement by the U.S. SEC, with Bitcoin losing almost $500 on the day and significant fluctuations in the top ten. After solid growth to break above the $7,000 mark earlier today, Bitcoin (BTC) saw a loss of around $500 in six hours. At press time, all of the top ten cryptocurrencies other than Tether (USDT) are in the red, according to Coin360. Market visualization from Coin360 BTC is trading around $6,598 at press time, dropping 5.29 percent over the last day and bringing a new weekly low. The decline follows today's news that the U.S. Securities and Exchange Commission (SEC) postponed its decision on the listing and trading of a Bitcoin exchange-traded fund (ETF) to the end of September. Bitcoin's 24-hour price chart. Source: Cointelegraph Bitcoin Price Index Ethereum (ETH) is suffering a slump, having lost around 6.64 percent in the last 24 hours. The second largest cryptocurrency is trading at $377 at press time, also hitting a new weekly low. Over the month, the ETH price has dropped 23 percent. Ethereum's 7-day price chart. Source: Cointelegraph Ethereum Price Index The top ten altcoins are firmly in the red, moving downward from 4 to almost 12 percent. At press time, IOTA, and Ripple (XRP) show the most significant losses, dropping 8.52 and 11.46 percent respectively, followed by Litecoin (LTC) with a loss of 8.5 percent on the day. Among the top twenty coins by market capitalization, Ethereum Classic (ETC) has been hit the hardest, losing over 13 percent in the last 24 hours, and trading at $17.02 at press time. Today, Aug. 7, crypto exchange Coinbase added support for ETC on its Coinbase Pro platform. Yesterday, commission-free crypto trading platform Robinhood listed ETC as well. Ethereum Classic's 1-day price chart. Source: CoinMarketCap Total market capitalization of all cryptocurrencies is at $236.7 billion at press time, down almost $15 billion over the 24 hour period. 1-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap

Bitcoin Holds $8,000 as Community Weighs ETF Impact Prospects

Jul 30th, 2018

Bitcoin remains stable, trading above $8,100 as monthly growth for July approaches 30 percent. Bitcoin's (BTC) price continued to hold above $8,000 on Monday, July 30, as the rest of market saw slight losses across the board. Market visualization from Coin360 Data from Cointelegraph's price tracker and Coin360 reveals a modest comedown for Bitcoin through the day, falling almost 1 percent over a 24 hour period to trade at around $8,110 by press time. The top cryptocurrency reports around 28 percent growth over the last month. Bitcoin weekly price chart. Source: Cointelegraph Bitcoin Price Index Bitcoin's price had remained relatively steady over the weekend, after briefly dipping below $8,000 after the news that the U.S. Securities and Exchange Commission (SEC) had again rejected an exchange-traded fund (ETF) application by Cameron and Tyler Winklevoss. However, the SEC also recently postponed a decision on an ETF application by investment firm Direxion until September, and other applicants are still awaiting a decision from the U.S. regulator. Kin-Wai Lau, the CEO of Fatfish Internet Group, said this week that he believes "we're not far away" for the market to "generally accept an ETF." For top altcoin Ethereum (ETH), the day's downturn was slightly more precipitous, with ETH losing about 2 percent over a 24 hour period to trade around $454 by press time. ETH has seen a little more than 2 percent growth over the last month. Ethereum weekly price chart. Source: Cointelegraph Ethereum Price Index Ethereum co-founder Vitalik Buterin argued this week that the ETF noise was receiving too much attention, and that actual consumer adoption in terms of purchasing and earning in even small amounts of cryptocurrency was "much better:" "I think there's too much emphasis on BTC/ETH/whatever ETFs, and not enough emphasis on making it easier for people to buy $5 to $100 in cryptocurrency via cards at corner stores. The former is better for pumping price, but the latter is much better for actual adoption." Almost all of the top ten coins listed on CoinMarketCap are in the red -- with the exception of stablecoin Tether (USDT) -- seeing losses between about 1 and 6 percent. Stellar (XLM) is down the most, almost 6 percent over a 24 hour period and trading around $0.29 by press time. EOS also sees a similar loss, down around 5 percent over a 24 hour period to press time and trading around $7.85. Total market cap is currently around $291 billion, down from its intraweek high of about $304 billion. Total market capitalization chart. Source: Coinmarketcap

IBM Is Helping Launch a Price-Stable Cryptocurrency Insured By the FDIC - CoinDesk

Jul 17th, 2018

The latest attempt to create a cryptocurrency pegged to the U.S. dollar, or "stablecoin," combines 21st-century technology with an invention from the Great Depression. Announced Tuesday, a startup called Stronghold is launching USD Anchor, which will run on the rails of the Stellar blockchain and use its consensus mechanism to verify transactions. The token will be backed one-for-one with U.S. dollars held at a Nevada-charted trust company called Prime Trust, which in turn will deposit the cash at banks insured by the Federal Deposit Insurance Corp. IBM is partnering on the initiative with Stronghold, and said it will explore various use cases for the token with its financial institution clients. "What we really want to do is enable all sorts of digital transactional networks to settle their transactions with digital fiat currency on the same blockchain networks," Jesse Lund, IBM's head of blockchain services for financial institutions, told CoinDesk. Stronghold acts as an "anchor," or on- and off-ramp, to the Stellar network. The startup will issue the digital asset, which represents a claim on U.S. dollars deposited with Prime Trust and ultimately insured by the FDIC, the U.S. agency created in 1933 whose sticker on the doors of bank branches has long reassured Americans their money is safe. "The process for seamlessly managing and trading assets of any form from digital to traditional currencies, needs to evolve," said Stronghold's co-founder and CTO, Sean Bennett, in a release. "Asset-backed tokens can provide seamless access to all currencies, improving the global movement of money." As such, the project represents one of several recent efforts to tokenize fiat currency in order to make transactions as fast and frictionless as crypto but without the volatility. The first use cases IBM will pursues will be around cross-border payments in the form of remittances and small-scale foreign exchange transactions. The stablecoin is now available to institutional clients and IBM aims to "put it to use as quickly as possible," Lund told CoinDesk, adding, "I think you will see some solutions that IBM has been backing making use of this certainly before the end of this year." The project bears at least a superficial resemblance to Tether, the stablecoin issuer that's been the subject of controversy due to lingering questions about its U.S. dollar reserves. In both cases, real-world fiat is deposited with a counterparty (Tether in the case of USDT, Prime Trust for USD Anchor) and then represented by a token that zips around on the blockchain. "You can't talk about this without talking about Tether," Lund acknowledged. "But there are certainly some differences with Tether versus what we are doing." The most obvious one is the FDIC coverage, and the involvement of a state-chartered trust company, which should give investors confidence that the USD Anchor is fully backed - certainly moreso than the tepid assurances Tether had provided from third-party firms. Scott Purcell, the CEO and chief trust officer at Prime Trust, said it is fully audited (a distinction that's eluded Tether) and has relationships with such FDIC-insured institutions as U.S. Bank and Pacific Mercantile Bank. Since the FDIC only covers deposits up to $250,000 in the event of bank failure, any deposit larger than that would be split and stored at multiple banks. "If we're holding cash, it has to be FDIC-insured," Purcell said. Prime Trust has similar arrangements with other stablecoin issuers, including TrueUSD, he said. It also does know-your-customer (KYC) and anti-money-laundering (AML) checks on token holders, both when they cash in and when they cash out. A subtler difference is that Tether's USDT token is mainly used by traders to move value in and out of cryptocurrency exchanges quickly so they can take advantage of arbitrage opportunities. In contrast, IBM envisions the Anchor being used by financial institutions for a host of more mainstream use cases, starting with payments, but moving into areas like food tracking, global trade and supply chain and so on. "What we are trying to do is make digital currencies more relevant for everyday types of transactions, and not just about trading cryptocurrencies," Lund said. For IBM, the stablecoin is only the first step down a path could lead to multiple digital currencies. "What we envision is a network that has multiple different asset classes living on it. You could have digital euros, digital dollars, digital pounds - and they are all really kind of running on the same networks," Lund said. This would provide practical business benefits, he argued. "This would radically change the whole foreign exchange market because you wouldn't have to do FX in large blocks like they do now," Lund said. "FX could be a real-time transaction atomic thing." The stablecoin project also represents an expansion of IBM's partnership with Stellar, which was first revealed in October. Back then IBM announced it had been working with the Stellar protocol and its native token, lumens, as a bridge currency between money transfer operators in a number of South Pacific island nations. Since then IBM has been busy expanding this into a larger production ready network. "We haven't announced anything yet but it includes regulated financial institutions in a whole bunch of other jurisdictions," said Lund. The reason IBM has (non-exclusively) partnered with Stellar is because its team has experience in cross-border payments and the protocol scales well with no mining in its consensus system, Lund said. While IBM is most deeply invested in is Hyperledger Fabric, the last 12 months have seen much additional focus on Stellar, said Lund, concluding: "I envision we will continue to adopt other blockchain protocols to round out the platform as use cases require." Bridget van Kralingen image via CoinDesk archives

Bitcoin Holds the Week's Major Gains as Other Altcoins Struggle

Jul 20th, 2018

July 20: Bitcoin (BTC) has split off from other top cryptocurrencies and shows markedly more resilience in holding on to gains secured in the major upswing that kicked off earlier this week. Market visualization from Coin360 As Coin360 data shows, the top coin is an island of green, while most major alts are struggling to maintain positive momentum. Bitcoin (BTC) is trading around $7,398, up a fraction of a percent over the 24 hour period to press time. The leading cryptocurrency has been trading sideways as of early trading hours July 18, following an impressive uptick on July 16 that accelerated yet further July 17. Bitcoin's weekly and monthly gains are in positive territory, at about half a percent and 20 percent respectively, according to CoinMarketCap data. Reflecting on Bitcoin's strong rally this week, Arthur Hayes, CEO of crypto exchange BitMEX, said today that the current bull run may yet give way to test a price point of $5,000 before heading to $50,000 in 2018. Bitcoin 7-day price chart. Source: Cointelegraph Bitcoin Price Index Ethereum (ETH)'s price performance has been less buoyant, with the top altcoin trading around $453 to press time, down 2.6 percent on the day. After soaring as high as $510 on July 18, the asset began to see a jagged decline. While recent growth has secured a positive weekly percentage gain of around 5 percent, Ethereum's monthly performance is a little more than 3 percent in the negative, according to CoinMarketCap data. High point in Ethereum's 7-day price chart. Source: Cointelegraph Ethereum Price Index On CoinMarketCap's listings, all of the top 10 coins by market cap -- save Bitcoin and stablecoin Tether (USDT) -- are seeing losses of between 2 and 5 percent over the 24 hour period to press time. Ripple (XRP) has dropped roughly 4 percent on the day, trading at $0.46 to press time, according to CoinMarketCap. Cardano (ADA) has lost around 4 percent and is trading around $0.17 over the past 24 hours to press time. Of the top 20 ranked coins on CoinMarketCap, Dash (DASH) has seen a solid 5 percent growth over a 24 hour period, trading just above $274 to press time. The alt skyrocketed $20 within an hour earlier today to reach $282, before dropping slightly to its current valuation. Dash 24-hour chart. Source: CoinMarketCap Total market capitalization of all cryptocurrencies is now at around $283 billion to press time, down from its intra-weekly high of about $299 billion. Weekly high in the total market capitalization of all cryptocurrencies from CoinMarketCap The past day has seen the news that four of the top forty spots on Fortune's annual rankings for the most powerful young disruptors in global business have been given to five innovators from the crypto space, over twice as many as last year. As crypto gains traction in the global mainstream, U.K. lawmakers are moving to review existing legal frameworks to ensure that British courts remain a "competitive" choice for businesses that use smart contracts. Yesterday, former Wall Street executive and crypto merchant bank founder Mike Novogratz nonetheless said he expects its will take "five to six years" for mass crypto and blockchain adoption to materialize.

Media: Crypto Exchange Huobi's OTC Trading Platform to Support India Rupee Transactions

Jul 30th, 2018

Crypto exchange Huobi is set to support Indian rupee transactions on its proprietary peer-to-peer trading platform. Huobi, currently the world's third largest crypto exchange by daily trading volumes, is set to support Indian rupee (INR) transactions on its proprietary peer-to-peer trading platform, according to an email cited by Crypto News India July 26. Huobi, whose over-the-counter (OTC) service will reportedly offer Indian users zero-fee trading on Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) using rupees, noted in the email that: "We do think it's time that we provide a solution of buying/selling digital assets with INR for all Indian users...every registered Indian user of Huobi can log in to https://otc.huobi.com to trade digital assets with INR." The email reportedly goes on to advise customers that they can transfer to Huobi Global if they want to trade more cryptocurrencies with "high liquidity." The OTC option for Indian traders has yet to be confirmed in an official announcement beyond Crypto News' cited correspondence, although the platform did reach out to a spokesperson who has allegedly confirmed that INR trading will be supported. Huobi has not responded to Cointelegraph's request for confirmation by press time. News of Huobi OTC's reported support for rupee transactions is especially significant for the Indian crypto space in light of the Reserve Bank of India's (RBI) controversial ban on banks' dealings with crypto-related businesses and persons, which came into force July 5. On July 4, one day prior to the deadline for the ban's implementation, local crypto exchange WazirX revealed it would itself be transforming into a peer-to-peer platform so as to avoid in-house crypto-fiat conversion. The central bank's crypto dealings ban -- first announced in April 2018 -- has prompted both public and industry-led petitions, with some appealing to the courts on the grounds that the decision is unconstitutional. Ongoing hearings on the ban at the Supreme Court have seen the judiciary refuse to grant interim relief to those that purport to be affected. Ten days ago, the court deferred the final hearing on the ban -- originally scheduled for July 20 -- until September 2018. Alongside this most recent bid to reach out to an Indian user base, Singapore-headquartered Huobi has been rapidly expanding overseas throughout 2018. Trading has recently opened on its new "strategic partner" platform in the U.S., having launched a South Korean subsidiary this spring as well as unveiling a London-based operation, with OTC trading tests for the U.K. market expected to begin in the third quarter of this year. Huobi has seen $968.7 million in trades over the 24-hour period to press time, according to CoinMarketCap.

Trading Opens on Huobi's New US-Based 'Strategic Partner' HBUS

Jul 10th, 2018

Huobi crypto exchange has opened trading on its newly created U.S.-based "strategic partner" HBUS, according to a press release shared with Cointelegraph today, July 10. Huobi's new cryptocurrency marketplace comes via a San Francisco-based partner company called HBUS, whose creation was first announced in early June. As of 10 a.m. (Pacific Time) today, HBUS is live for trading, supporting 22 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH), Tether (USDT), and others. The new platform also provides traders with an overview of market data for listed cryptocurrencies, including candlestick and depth charts. As Cointelegraph reported last week, as of July 6, HBUS has been accepting account verification requests from U.S. residents, who have also been able to deposit their crypto holdings in advance of today's launch. Presumably as the firm awaits the all-clear from regulators, trading on HBUS is not currently open to residents of Alabama, Connecticut, Georgia, Louisiana, New York, North Carolina, Hawaii, Vermont, and Washington. Alongside its U.S. venture, on July 5 Huobi confirmed trading had opened on its new Australia-based platform. The exchange has also just recently unveiled a London-based operation targeting the European market, expecting over-the-counter (OTC) trading tests to begin in the third quarter of this year. The Singapore-headquartered platform has morevoer been expanding its business across Asia, launching a South Korean subsidiary this spring, alongside existing operations in Hong Kong and Japan. As the third largest crypto exchange by daily trade volumes on Coinmarketcap's listings, Huobi has seen $823.8 million in trades over the past 24 hours to press time.

Huobi Launches Huobi Cloud for Establishing and Operating Digital Assets Exchanges

Jul 20th, 2018

Huobi Group has launched a new platform, Huobi Cloud, that allows users to build digital asset exchanges on top of Huobi's existing platform. Huobi Group has announced the launch of a new platform, Huobi Cloud, that will allow users to build digital asset exchanges on top of Huobi's existing platform. According to a statement shared with Cointelegraph, more than ten multinational companies have already become partners with Huobi Cloud. The new product is aimed at establishing over-the-counter (OTC) and digital asset exchanges. Partners will also be able to use the order integration and wallet systems, as well as the asset management and clearing system of the Huobi Global platform. Leon Li, Chairman of Huobi Group, commented on the launch: "In this era of significant and strong adoption of blockchain technologies, Huobi is looking to share its expertise and experience with the entire blockchain ecosystem and through this, develop the industry further to achieve mutual benefits for all stakeholders." According to the statement, Huobi Cloud comprises of four approaches, including exchange, OTC, operational, and eco-system solutions. The exchange solution supports exchange platform publishing, token-related services, hot and cold wallet separation, a risk-trigger mechanism, and other services. The OTC solution verifies the authenticity of the trading of fiat currencies like U.S. dollars, Hong Kong dollars, Chinese yuan, and cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). Founded in 2013, Huobi is currently the world's third largest cryptocurrency exchange in terms of trade volume, with offices in Singapore, the U.S., Japan, South Korea, and Hong Kong. At the end of June, the company partnered with JD Cloud, a subsidiary of China's largest online retailer JD Group, to explore blockchain technology applications and cloud computing, focusing on financial services, Internet of Things (IoT), and supply chain fields. In June, Huobi also announced the launch of its new public blockchain, the Huboi Chain Project (HCP). According to Huobi Group, the new platform will be used for "value exchange, fundraising, securitization and more." With the release of HCP, Huobi also aims to decentralize its own operations.

Tether Appoints BMO Anti-Money Laundering Manager as Chief Compliance Officer

Jul 13th, 2018

Tether has hired а former Bank of Montreal anti-money laundering manager to head its regulatory compliance program. Cryptocurrency startup Tether Limited has appointed a former AML Quality Control Manager at the Bank of Montreal (BMO) to lead the company's regulatory compliance efforts, according to an announcement published July 12. The company behind cryptocurrency Tether (USDT) has hired Leonardo Real as Chief Compliance Officer. Real was previously responsible for establishing practices, policies, and procedures in accordance with regulatory requirements to improve the quality of Canadian BMO's anti-money laundering (AML) investigations. Additionally, Real has experience dealing in stocks and futures trading. Real commented on the new appointment: "I look forward to helping showcase Tether's commitment to transparency and regulatory compliance within the blockchain and cryptocurrency space. As a longtime advocate of blockchain technology and the integration of cryptocurrencies into the mainstream, I am looking forward to putting my experience in AML and regulatory compliance in traditional financial institutions to use, to ensure that the Tether project can continue its work disrupting traditional industries." Tether was founded in 2014 as "the first" blockchain-powered platform which allows the tokenization of fiat-backed digital currencies. Last month, law firm Freeh Sporkin & Sullivan LLP conducted an unofficial audit of Tether's accounts, where it was discovered that USDT did indeed have enough funds to back each token 1:1 with the U.S. dollar. The question of whether Tether could back all of its tokens with dollars was previously the subject of some criticism and controversy. After the publication of a study conducted by analysts from the University of Texas, Tether fell under further suspicion for Bitcoin (BTC) price manipulation in 2017 when the BTC price surged to all-time highs around $20,000. The paper claims that "purchases with Tether are timed following market downturns and result in sizable increases in Bitcoin prices." Today an Australian cryptocurrency exchange bitcoin.com.au hired former consulting giant PricewaterhouseCoopers (PwC) executive Ben Ingram as its new CEO. Prior to joining the exchange, Ingram held the position of director in charge of digital strategy at "Big Four" auditor PwC. Ingram's work at bitcoin.com.au will include both improving the exchange's trading functionality and focusing on expanding crypto-based financial products into the traditional market space.

4 cryptocurrency trends to watch out for

Jul 11th, 2018

"It's the next big revolution, just like the internet was." "No... it's a bubble!" Love it or hate it, cryptocurrencies have now grown to a point where they cannot be ignored. The CBOE and CME have launched their own cryptocurrency futures, the SEC and CTFC have gotten involved, and pretty much every mainstream publication that matters discusses cryptocurrencies one way or the other every day. In other words, cryptocurrencies are here to stay -- at least for the foreseeable future. What cryptocurrency trends should you watch out for, though. What will drive the cryptocurrency landscape in the foreseeable future? Below are four trends to watch out for: The cryptocurrency market has survived a lot of things: major exchange hacks, involvement from the US Securities and Exchange Commission (SEC), ban on cryptocurrency ads by Google, Facebook, Twitter and other online giants, and unpredictable government intervention and attempts at regulation. All these factors have in some way been responsible for a massive correction in cryptocurrency market cap, from an all-time high of over $850 billion in January to about $260 billion at the time of writing this. Amidst these events many experts, renowned economists, and pundits have declared the death of cryptocurrency. But it hasn't died. However, many experts agree that one factor could finally deal cryptocurrencies a fatal blow: the stablecoin Tether. Most cryptocurrencies are pegged to Bitcoin and, due to Bitcoin's huge price swings and volatility, this affects the prices of other cryptocurrencies. The idea behind the stablecoin is to have a coin with a fixed price that isn't subject to sudden price swings. This "stablecoin" is then pegged to, and backed by, actual fiat currency to guarantee its stability. The most notable of all stablecoins is Tether, and most exchanges now pair every major cryptocurrency -- and some smaller altcoins -- to Tether's USDT which is equal to a dollar. This is generally supposed to be a good thing, because, due to being backed by the dollar, pegging a cryptocurrency to Tether makes it more stable than pegging it to the more volatile Bitcoin. Well, this should be the case assuming that Tether is actually indeed backed 1:1 by the dollar as is generally assumed. However, damning reports to the contrary have emerged. It's been speculated that Tethers are often printed out of thin air in response to market conditions in order to manipulate cryptocurrency prices. It's also been alleged that about 48.8 percent of Bitcoin's price rice occurred within hours of new Tethers being released. In other words, there is strong reason to believe that Tether has been released severally in order to manipulate Bitcoin, and consequently cryptocurrency, prices. Now, this piece isn't about Tether per se. Several sources like Tether Report and Bitfinexed provide more detailed and logical information on the subject. The problem lies in Tether being the major stablecoin cryptocurrencies are pegged to: Tether's USDT is recognized and used by every major exchange, and Tether has the second highest volume of all cryptocurrencies after Bitcoin according to data from CoinMarketCap. Due to this high dependency on Tether, any revelation of questionable activity could send cryptocurrency prices crashing -- with many experts predicting an up to 80 percent price crash for Bitcoin. The good news, however, is that the introduction and proliferation of more stablecoins, and less dependency on Tether will reduce the potential after-effects should Tether be revealed to be a sham and ensure more market stability in general. Bitcoin is undoubtedly the king of crypto -- when it sneezes, altcoins catch the cold. However, cryptocurrency observers would have noticed a trend in which Bitcoin dominance has slowly been eroding -- at 38 percent at the time of this writing, Bitcoin dominance is at one of its lowest points ever. This is a far cry from the 87 percent it started January 2017 with. Despite the sharp decline in Bitcoin dominance, it will only go up from here. In fact, I won't be surprised if Bitcoin dominance increases to 50 percent or more in the nearest future. There are a few key reasons why Bitcoin dominance will increase: 1. Despite Bitcoin's volatility, it has been more stable than other major cryptocurrencies. Research from the BlackRock Investment Institute found that Bitcoin is significantly less volatile than the next two most popular cryptocurrencies -- Ethereum and Ripple. Just take a look at the chart below: The fact that Bitcoin is generally less volatile than other cryptocurrencies, and Bitcoin's synonymy with cryptocurrency to the average new investor, will further drive its market dominance. 2. Many of the scaling issues plaguing Bitcoin are being addressed thanks to fixes like SegWit and Lightning Network. Perhaps the biggest threat to Bitcoin's dominance is its scalability issues; due to the very limited number of transactions supported per second, the Bitcoin network gets bogged down as more people use the network. This has resulted in some transactions taking days to complete, which doesn't exactly bode well considering the cryptocurrency's volatility. With these fixes, however, these issues are addressed: the result is faster transaction times and a more stable Bitcoin. 3. Altcoins have always been influenced by Bitcoin price movements. When Bitcoin price goes up, altcoins go up. When it goes down, altcoins go down. This trend will prompt more and more investors to see Bitcoin as a safer store of value and further shore up its dominance. Goldman Sachs is reportedly planning to start its own Bitcoin futures trading and help use its own money to help its clients trade Bitcoin. UK-based Crypto Facilities also recently made news for launching the first regulated Ethereum futures contract in the UK. While many have claimed that the launch of futures will only water down the value of cryptocurrencies because it allows institutional investors to short cryptocurrencies, researchers have found that the introduction of futures have aided mainstream adoption of cryptocurrencies. In particular, a study by the Federal Reserve Bank of San Francisco noted that the introduction of Bitcoin futures in 2017 helped encourage many pessimists to enter the cryptocurrency market. When eight-graders are talking about Bitcoin, you know it has gone mainstream. However, many new investors are still coming to terms with the extreme volatility of cryptocurrencies, and as they do, not only will cryptocurrencies become more mainstream but they will also become less volatile due to an understanding of their nature. Decentralized exchanges will rise, and it won't be too long into the future. While many experts are speculating that decentralized exchanges aren't ready for mass adoption yet, I believe that the rise of decentralized exchanges is more closer than is assumed. Many factors will drive the rise of decentralized exchanges: 1. Centralized exchanges generally defeat the purpose of cryptocurrencies. The selling point of most cryptocurrencies is decentralization, and it's ironic that the success and failure of most of these decentralized cryptocurrencies depends on centralized exchanges. This will change. 2. While the above point is realistically not going to be enough to get many people to turn to decentralized exchanges, the fact that cryptocurrencies have now become more mainstream and that many are seeing how much of an impact exchanges are having on the cryptocurrency landscape -- the Mt. Gox hack, the Bitfinex hack, the Coincheck hack and raid -- will drive the need for decentralized exchanges. 3. Major players getting into the decentralized exchange business will also drive adoption. Huobi recently announced plans to invest $100 million towards building its own decentralized exchange, and Binance recently announced development of Binance Chain, its own decentralized exchange. With more major players having stakes in decentralized exchanges, we can expect decentralized exchanges to be less clunky and buggy and more intuitive. As a result, mainstream interest and adoption will increase. While the cryptocurrency landscape is still nascent, there are a lot of exciting developments. The rise of stablecoins, increase in Bitcoin dominance, more mainstream adoption, and the rise of decentralized exchanges are some trends to watch out for. This post is part of our contributor series. The views expressed are the author's own and not necessarily shared by TNW.

Tokens and Small Cryptocurrencies Start to Rebound as Crypto Volume Explodes

Jul 25th, 2018

The daily trading volume of the crypto market has increased from around $9 billion to $19 billion within a period of two weeks, by more than two-fold. Bitcoin has remained relatively stable in the $8,200 region after reaching a monthly peak at $8,500, recording a slight drop from its high point. The volume of bitcoin against the US dollar and stablecoins like Tether (USDT) has increased by nearly four-fold since early July, and the global bitcoin volume has increased by exactly two-fold since last week. As the price of bitcoin slightly dropped against the US dollar in the past 12 hours, tokens including Aelf (ELF), Bluzelle (BLZ), Quarkchain (QKC) and WePower (WPR) have increased by 10 to 20 percent against bitcoin, showing a revival in terms of momentum and volume. ELF, which has been one of the best performing tokens against bitcoin and the US dollar throughout 2018, recorded a 20 percent increase in value from 0.00075 BTC to 0.00009004 BTC, but has since fallen to 0.000085 BTC. QKC, which plunged in value upon its listing on Binance in June, also recorded a strong 16 percent increase in value from 0.00000439 BTC to 0.00000510 BTC, despite its lack of volume on major cryptocurrency exchanges. Initially, the short-term rally of bitcoin had minimal impact on alternative cryptocurrencies and tokens, demonstrating the elimination of correlation between the rest of the crypto market and digital assets. The rally of bitcoin and the struggle of tokens also signified the reluctance of investors in the crypto market to take additional risk in a highly volatile period. As bitcoin started to demonstrate more momentum and strength however, investors have become more comfortable investing in tokens that are a high-risk but high-return investment, showing confidence in the short-term trend of the cryptocurrency market. In consideration of the small drop in the price of bitcoin from $8,500 to $8,200 in a span of 24 hours, it is likely that the price of BTC rebounds in the upcoming hours, potentially eyeing a re-entrance to the $8,400 resistance level. The sudden surge in the volume of bitcoin and the rest of the cryptocurrency market can be attributed to two major factors: the unwillingness of bears to sell in the $6,000 regions and increasing speculation around bitcoin exchange-traded funds (ETFs). Specifically, investors in the crypto exchange market of South Korea have shown significant optimism towards the approval of a bitcoin ETF within 2018, mostly due to the filing of the Cboe with the US Securities and Exchange Commission (SEC) to operate a bitcoin ETF equipped with insurance and strict transaction monitoring. At this current stage, it is more likely for the SEC to delay the launch of bitcoin ETFs to 2019, as it can legally delay ETF filings until late next year. Already, the SEC has delayed its rulings on five bitcoin ETFs filed with the agency.

Crypto Exchange Bittrex Expands Adds Ethereum Classic and XRP Trading Pairs

Aug 8th, 2018

Crypto exchange Bittrex is planning to add two new USD trading pairs to already listed Bitcoin, Ethereum, Tether, and TrueUSD. Cryptocurrency exchange and wallet service Bittrex has announced plans to launch U.S. dollar (USD) trading pairs for two new cryptocurrencies, according to an official announcement published August 8. Per the announcement, Bittrex is looking to expand its fiat markets to Ethereum Classic (ETC) and Ripple (XRP) on August 20. The new trading pairs will be added to already listed dollar markets for Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and TrueUSD (TUSD). The company says that it will continue gradually adding tokens to its USD markets, using a "phased approach" for USD trading. Bittrex further explained that it takes a gradual approach to "ramping up these markets" in order to ensure quality in processes and systems before making them available to qualified customers. Bittrex said: "In addition to broader acceptance, expanding fiat markets to the top digital currencies on our trading platform will help limit the dominance and influence of any one token over other blockchain projects - a necessary evolution if we're going to unleash blockchain's potential benefits for consumers and businesses." Bittrex was founded in 2014 by Bill Shihara and two business partners, all of whom previously served in the security team at Amazon. In February of this year, Shihara announced the exchange's intention to open up USD trading to the majority of its customers. In October 2017, Bittrex Visit website open_in_new

Market share 0.00%
Proof type
24h Open $0.99
24h Low $0.99
24h High $0.99
Price in BTC 0.00026770459622 BTC
Current Supply 2,021,459,072 USDT
Market cap $1,998,616,576
24h Volume (coin) 2,951,953 USDT
24h Volume (currency) $2,918,280
Last updated 2019-02-18 00:54:47 +00:00 GMT
ID Market Type Price Quantity Total
Date Price Volume