by Penny Angeles-Tan | Sep 20, 2024 | Business
The Fed’s rate cut announcement has impacted the crypto ecosystem. Will the USDT price paired with other crypto tokens also increase?
After the Fed announced interest rate cuts, the cryptocurrency industry heated up. Many tokens have experienced price increases. So, what about the USDT price? Has the USDT token pair also experienced positive price changes? The following is the explanation.
Impact of the Fed’s Interest Rate Cut Announcement
The Fed has announced a 50bps cut in interest rates. This condition has heated up various investment assets, including the crypto industry. The majority of crypto tokens have even gone “green”. This condition is of course encouraging for crypto token holders.
Bitcoin recorded its price at $63,532 with an increase of 1.8% in 24 hours. Then there is Ethereum which has recently experienced a decline and even received a bad reaction from its holders because the price continues to fall. But now, ETH is up 4.65% and has a price of $2,545.
However, it turns out that the condition of positive price changes after the announcement of the interest rate cut does not apply to USDT. USDT Price fell by 0.01%.
Tether USDT Dominates the Stablecoin Market
In the stablecoin market, Tether USDT continues to strengthen its teeth. TON’s USDT Tether dominates and records itself with an increase of up to 75%, from the previous 55%. Its market capitalization even exceeds $118 billion. This figure is proof of the significant increase in Tether USDT in the last 2 years.
There are several reasons why Tether USDT has had such a significant increase now, namely:
- Tether USDT has a strong network with better liquidity than other stablecoins so users have more trust2. Users shift away from USDC due to the collapse of Silicon Valley Bank 3. Tether also has an allocation of US government bonds, thus providing income of up to hundreds of millions for Tether itself.
Conclusion
That is information regarding the current condition of the crypto industry after the announcement of the Fed’s interest rate cut. Even though Tether’s USDT price tends to fall compared to other crypto tokens which rise, this can be a moment to buy USDT as an investment strategy.
However, investing in crypto assets must be accompanied by in-depth research. Carry out technical and fundamental analysis to find out what the condition of the token will be now and in the future.
You can learn how to buy USDT, check prices USDT to USD, to find out the price in real-time on Bitrue. Take advantage of Bitrue’s various features to conduct independent research so that you are more confident in investing in digital assets.
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Sep 20, 2024 | Business
The EIGEN Season 2 Stakedrop is only specifically for 3 categories of recipients. Are you among those eligible to receive this EIGEN airdrop?
Through its official account on X, the EigenLayer Foundation announced its airdrop event. The EIGEN Season 2 stakedrop was announced on September 4. However, there has been no additional announcement regarding exactly when this airdrop will take place.
Stakedrop EIGEN Season 2 is only specifically for 3 categories of recipients. Are you among those eligible to receive this EIGEN airdrop? Check out the explanation below.
Mengenal EigenLayer
Before discussing EIGEN Season 2 Stakedrop, let’s first discuss EigenLayer. That way, you will become more familiar with this protocol.
So, EigenLayer is a protocol on the Ethereum network. This protocol is very innovative because, with EigenLayer, users can restake ETH that has previously been staked on the Ethereum Beacon Chain.
In this way, the ETH owned by users can be used again to secure other projects built on the Ethereum network. The emergence of EigenLayer makes using ETFs much more efficient.
EigenLayer also helps improve the security of the Ethereum network and projects built on the Ethereum network. With more validators securing the network, the network will become more decentralized and resistant to attacks.
This protocol also opens the door to the development of new, innovative projects on top of Ethereum. That way, developers can easily access the security resources provided by EigenLayer without needing to build their security infrastructure.
EIGEN Season 2 Stakedrop
On September 4, EigenFoundation announced its airdrop event with the title Stakedrop EIGEN Season 2. This event will be held on September 17 2024. However, there is a possibility that it will be held before that date.
There are only 3 categories of recipients who are eligible to take part in this EIGEN airdrop event, namely Stakers & Operators, Ecosystem Partners, and Community. The following is a more detailed explanation.
1. Stakers & Operators
This recipient category is users who have staked ETH or EIGEN tokens. Later, stakers can immediately claim prizes when the airdrop officially opens. To calculate rewards, you can check the following table.
2. Ecosystem Partners
The EIGEN airdrop recipient category includes AVS, LRT, Rollup, RaaS, and other main contributors who meet the requirements of the EigenLayer ecosystem.
3. Community
The community in question is supporters, contributors, and early users of the EigenLayer project. Later, this category will be assessed by carrying out social identity verification as confirmation that the user is indeed in this category.
Conclusion
That is the information about the EIGEN Season 2 Stakedrop. You can follow the latest information about EigenLayer and the official date for holding the season 2 stakedrop by accessing the Bitrue blog.
Bitrue has a variety of the latest information about the crypto ecosystem. That way, you will always be up to date with the various crypto projects currently underway.
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Sep 17, 2024 | Business
ETH price continues to decline. It is predicted that Ethereum’s decline is due to Trump’s assassination last week and the Fed’s interest rate announcement. Here is a more detailed analysis.
The current condition of Ethereum is considered worrying. The reason is, the ETH price continues to decline even though the prices of other crypto assets are “green”. The price of ETH is currently considered the lowest since 2021.
Let’s review together what the current condition of the Ethereum price chart is. Analysis of factors that influence the price of Ethereum will also be explained in this article.
Ethereum Decline Factors
Allegedly, the decline in ETH prices was due to the assassination attempt on former US president, Donald Trump, at the Trump International Golf Club in Florida.
This second assassination plot was recorded at the end of last week and affected the prices of BTC and ETH. Quoted from Decrypt, the price of ETH at that time immediately fell by around 4.2% to reach $2,315 on Monday in the European trading session.
Not only was it influenced by the second murder of Trump by the Secret Service, the fall in ETH prices was also due to anticipation of a monetary policy decision by the Fed this weekend. The Fed’s decision has made the crypto market a little anxious, especially towards the end of the third quarter of 2024.
The Fed is likely to cut interest rates so that DeFi returns are attractive enough to pay attention to. However, the focus is also on rebuilding the DeFi lending market on the Ethereum mainnet. This could be used as a pump against Ethereum’s poor performance price.
ETH Price Keeps Going Down
Currently, the ratio of ETH to BTC pairs is at 0.039. This ratio is considered the lowest since April 2021. This decline in performance was analyzed starting on July 24 because the ETH/BTC pair fell below the ETH price range line between May 21 and July 24.
Please note, the ETH/BTC pair is the price ratio of ETh and BTC. The pair shows how much BTC is needed to buy 1 ETH.
The price of ETH to USDT also experienced a decline. When this article was written on September 17, ETH had decreased by -0.39%. Currently, the price of ETH is $2,307.
It can be seen from the Ethereum price chart above that the ETH RSI indicator is also falling below 50. Ethereum’s RSI is at 43.24. This means that the selling pressure on ETH is much greater than the buying trend.
The MACD indicator also reflects something similar. It can be seen how the Ethereum MACD line drops from the boundary line. This makes ETH’s bearish trend inevitable.
Conclusion
The ETH price chart is indeed in a sad decline at the moment. However, this does not rule out the possibility that Ethereum could rise because price fluctuations in the crypto ecosystem are commonplace.
You can buy ETH when the price is decreasing like now. However, you must conduct a thorough analysis before investing. You can also learn how to buy ETH.
Bitrue can help you to carry out a detailed analysis of ETH. Bitrue also has an ETH to USD price converter feature to find out exactly how much this crypto asset is worth compared to the current dollar.
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Sep 17, 2024 | Business
Grayscale Investments introduces Grayscale XRP Trust. How does it affect the price of XRP? How does it benefit users? Check out the explanation below.
Grayscale Investments, a company known for its cryptocurrency-based products, has introduced the Grayscale XRP Trust. This product allows accredited investors to invest directly in XRP.
The XRP community, including Ripple CEO Brad Garlinghouse, has welcomed this move.
So, how does the Grayscale XRP Trust benefit users and impact the future of XRP in the crypto ecosystem? Understand in detail by reading this article to the end.
What is the Grayscale XRP Trust?
The Grayscale XRP Trust is an investment vehicle that allows investors, primarily institutional and accredited investors, to participate in the growth of XRP.
Think of it like a special container containing XRP. By purchasing shares in this trust, investors indirectly own a share of the XRP that is in the trust.
The launch of the XRP Trust by Grayscale is considered a significant step for the development of XRP. This shows increased investor confidence in this token and its future growth potential.
Garlinghouse also emphasized that XRP has the potential to attract interest from institutional and retail investors.
Why is the Grayscale XRP Trust Important?
There are several reasons why this project is very important, especially for users, one of which is because it makes it easier to access XRP. See the explanation below for more details.
1. Easy Access to XRP
Not all investors have the technical knowledge or infrastructure required to purchase and store XRP directly.
The Grayscale XRP Trust simplifies this process. Investors only need to purchase trust shares, and Grayscale will manage their XRP holdings.
2. Legitimacy and Trust
Grayscale is a well-known asset management company with a good reputation. By launching the XRP Trust, Grayscale provides additional legitimacy to XRP and attracts greater interest from institutional investors.
3. Growth Potential
XRP has great potential as an efficient cross-border payment tool. If XRP manages to reach this potential, the value of the XRP Trust could also potentially increase.
4. Portfolio Diversification
Investors can use the XRP Trust to diversify their investment portfolio. XRP offers a unique asset class with different profit potential than traditional assets.
Grayscale Plans to Turn XRP Trust Into an ETF
Grayscale has ambitions to turn the XRP Trust into a spot exchange-traded fund (ETF) in the future.
This is in line with steps that have been taken previously with their Bitcoin and Ethereum Trust products.
Impact of XRP Trust Launch on XRP Price
The launch of the Grayscale XRP Trust had little impact on XRP price. When this article was written, XRP had increased by +2.97% bringing the price to $0.5856. This increase is not a rare phenomenon due to the launch of a new project.
However, the existence of this project from Grayscale proves that XRP is indeed a strong digital asset that has received investment from large companies. So, don’t be surprised if buy XRP is something that should be taken into account for long-term investment.
Ripple CEO Optimistic about XRP’s Future
Brad Garlinghouse, CEO of Ripple, expressed optimism about the future of XRP. According to him, the approval of XRP in the United States will be a key factor in its global expansion.
Garlinghouse believes that with a clear roadmap, XRP will be able to attract the interest of investors from all over the world.
Apart from that, the benefits of the Grayscale XRP Trust are:
- Increased Liquidity: As more investors become interested in XRP through these trusts, XRP market liquidity will increase.2. Wider Adoption: The XRP Trust can accelerate the adoption of XRP among institutions and large investors.3. XRP Position Strengthening: XRP will be increasingly recognized as a serious digital asset with huge growth potential.4. Innovation Driver: The interest of institutional investors will encourage further development of the XRP ecosystem.
Challenges and Hope
Although Grayscale has plans to convert its XRP Trust into an ETF, this is still subject to approval from the SEC.
However, the XRP community remains optimistic that with a favorable court ruling for Ripple, the chances of getting this approval are greater.
Conclusion
That’s the explanation about Grayscale XRP Trust. Grayscale’s latest project with XRP is an important step in the development of XRP. With this trust, investors can invest directly in XRP.
Additionally, Grayscale’s plans to convert the trust into an ETF indicate greater growth potential in the future. Even though there are still challenges that need to be faced, optimism towards XRP continues to increase along with positive developments that occur.
You can access XRP as a crypto asset on the Bitrue website and learn how to buy XRP. There are various XRP pairs that you can check, such as XRP to USDT, BTC, ETH, to USDC. You can also do a price converter XRP to USD easily on Bitrue. That way, you don’t need to bother switching websites just to check how digital assets are priced in USD.
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Sep 11, 2024 | Business
DOGS’ reputation is growing day by day. Will DOGS become more successful in the crypto industry? Learn more about DOGS future predictions in this article.
As a new meme coin, DOGS’s reputation is increasingly strengthening in the crypto ecosystem. DOGS becomes the top 3 crypto with the most unique holders. This number is considered fantastic because the tokens with more holders than DOGS are only USDT and ETH.
So, will DOGS continue to be successful in the crypto ecosystem? Is DOGS’s performance worthy of long-term investment? This article will discuss it, especially for you. Watch until the end to learn about DOGS developments in the crypto ecosystem.
DOGS Latest Achievements
Recently, the TON community announced that as many as 17 million users claimed DOGS tokens. This achievement is quite impressive for a new meme coin like DOGS.
According to Tonviewer, more than 5 million wallets are holding DOGS tokens on the TON blockchain. With this amount, DOGS has become a meme coin with a fantastic number of unique holders.
With that many holders, DOGS can only be surpassed by USDT from Tether and Ethereum (ETH).
Throughout its existence, DOGS now has more than 53 million users on its mini app with more than 42 million users eligible for airdrop claims.
With this achievement, the TON Community has more hope in Catizen and Hamster Kombat which is predicted to be able to compete with the success of DOGS now.
DOGS, Meme Coin Leader?
DOGS has many fans. Its release on crypto exchanges is much anticipated. However, the release schedule which coincided with the incident of Pavel Durov’s arrest meant that the DOGS price performed beyond user expectations.
Crypto News Flash reports that DOGS is gaining tremendous traction among meme coins. It was recorded that as of September 10, DOGS had increased by 9%. Staking DOGS also attracts more and more users.
For additional information, you can get prize of 50,000 HMSTR tokens by staking DOGS on Bitrue. The requirements are very easy. You only need to verify KYC on your Bitrue account, make a deposit with a minimum nominal, then you can redeem at any time.
As of September 11, DOGS had declined by 4.63%. Now, DOGS is trading at $0.0010112. Previously, DOGS was at $0.0010855 as its highest price in the last 24 hours.
In the price chart above, the RSI line is at 46. A number below 50 indicates that the DOGS selling trend is higher than the buying trend.
However, DOGS holders can be a little optimistic about DOGS performance because the MACD line seems to be trying to rise upwards. It could be said that DOGS has the possibility of being bullish even though it is currently in the red.
Will DOGS Continue to Be Popular in the Crypto Ecosystem?
The important question now is, will DOGS continue to establish itself as a meme coin with strong value in the crypto ecosystem?
Since its inception, DOGS has become a favorite among Telegram fans and the TON Community. DOGS continues to be in demand even when Bitcoin and the majority of Altcoins experience price declines.
When Bitcoin fell to $54,000, DOGS rallied with an increase of up to 16.5%. However, will this positive DOGS trend continue in the future?
Yang pasti, like any other cryptocurrency, DOGS is subject to various factors that can influence its price. Here are some of the key factors, such as:
1. Market Sentiment and Speculation
Positive news, hype, and fear of missing out (FOMO) can drive up the price of DOGS. Negative sentiment or news can have the opposite effect. Discussions and trends on social media platforms like Twitter and Reddit can significantly impact the price of DOGS.
2. Supply and Demand Dynamics
The distribution of DOGS tokens among holders can affect price. A concentrated ownership can lead to higher price volatility, while a wider distribution can stabilize the price.
The availability of buyers and sellers in the market can impact price. Higher liquidity generally means more stable prices.
3. Technological Developments and Project Progress
Positive developments in the DOGS project, such as new features, partnerships, or milestones achieved, can boost investor confidence and drive up the price. Improvements in the DOGS blockchain’s scalability and performance can enhance its utility and attract more users, potentially increasing the price.
Conclusion
That is information related to DOGS becomes the top 3 crypto with the most holders. The number of holders can only be surpassed by USDT and ETH, making DOGS a meme coin that is quite worthy of consideration at the moment.
You can read other information related to DOGS and various other crypto ecosystem news updates only on Bitrue. Only on the blog Bitrue, you can get the latest news related to cryptocurrency which can be read anytime and anywhere for free!
This Press Release has also been published on VRITIMES
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