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In crypto, stablecoins such as Tether (USDT) and DAI vie for dominance. Tether recently hit a noteworthy milestone with an $87.54 billion market cap. However, some argue that decentralized tokens like DAI offer superior Features .  This article delves into the critical distinctions between them. Tether: overview and market performance Tether, the oldest and largest stablecoin, aims to provide crypto as reliable as traditional fiat currencies like the USD, leveraging blockchain technology.  Its stability is maintained by pegging each USDT token to $1, backed by Tether’s reserves. However, Tether faced a stability test in May 2022 when the collapse of another stablecoin, TerraUSD (UST), triggered a substantial redemption of over $10 billion USDT.  You might also like: Tether whale received $1.1b USDT since October, buoying bullish speculation This incident briefly led to USDT depegging to $0.95, prompting concerns about stablecoin volatility and calls for ...

JPMorgan predicts the ending of the recent crypto market selloff, forecasting limited downside and potential stability in the near term. The latest downturn in the cryptocurrency markets seems to be approaching a conclusion, according to a new analysis by JPMorgan Chase & Co. The firm argues that long-position liquidations in the crypto world are mostly resolved and that further sharp declines are unlikely. While still echoing, the crypto markets’ recent behavior suggests that the market’s unwinding phase is near its end. Open interest in the futures contracts of Bitcoin (BTC) traded on the Chicago Mercantile Exchange (CME) indicates that the market’s correction is nearly over. Open interest, a measure representing the number of unsettled and active futures contracts, typically shows when a price trend might weaken. Analysts, including Nikolaos Panigirtzoglou, have noted that the decrease in open interest signals the potential end of the recent selloff. As a r...

A glance at the crypto world reveals bitcoin (BTC) is experiencing a pause at the $30,000 mark, but does this stagnation indicate an impending bear market or a precursor to another bull run? Let’s delve deeper. The world’s first and most renowned cryptocurrency has seen its market dominance rise to over 50%, encompassing nearly half of the $1.1 trillion total crypto market.  This leap to dominance, its highest share in over two years, signifies a significant shift from the start of the year when its share was around 40%, according to CoinMarketCap.  As of June 28, BTC was trading at $30,309, up over 4% in the last seven days. BTC 7-day chart | Source: CoinMarketCap The impact of ETF filings and market sentiment Crypto pundits worldwide keenly observe the resurgence of interest in bitcoin ETF filings from behemoths like Fidelity and BlackRock.  Companies with overall $20+ Trillion are rushing to get their Bitcoin spot ETF and you are believing the bears who ar...