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Litecoin has been gaining momentum recently and has been talked about as one of the most preferred cryptocurrencies for trading, even surpassing Bitcoin at one point. But what is the reason behind its meteoric rise and the prevailing bullish sentiment among investors towards it? In this article, we will explore the growth of Litecoin and the factors that are driving its phenomenal rise. Let’s analyze in detail what you think. Litecoin trajectory Looking at the coin’s trajectory from November 2023, it marked a historic moment when Litecoin overtook Bitcoin as the most used payment method on Bitpay, one of the…
If Tether’s stablecoin features an animal character, it must be a cat since it appears to have 9 lives. On Friday, bankrupt cryptocurrency finance company Celsius sued Tether for alleged preferential treatment during bankruptcy. Celsius borrowed $812 million from Tether, but the stablecoin company held the collateral. Therefore, just before bankruptcy, Tether liquidated its collateral to resolve its debt. If Celsius had filed suit two years ago, things could have been even more dire for Tether. Celsius claims to have transferred 17,886 Bitcoins as collateral in the 90 days before the bankruptcy. Legally, this type of transaction prioritizes the beneficiary…
Benzinga’s picks for the best stablecoins this month include Tether, USD Coin, Binance USD, TrueUSD, Origin Dollar, and Binance USD, which are available on crypto exchanges such as eToro, Coinbase, and Kraken.Stablecoins are a type of cryptocurrency that mirrors another asset to reduce volatility. These are pegged to stable assets or backed by algorithms. Stablecoins grew in popularity after the 2017 cryptocurrency boom as investors sought a less volatile store of value. This has led to central banks and governments becoming interested in developing their own digital currencies. Stablecoins provide investors with stable assets within the crypto space, facilitating faster…
Celsius cryptocurrency exchange has filed a lawsuit against Tether, accusing the stablecoin company of mishandling its assets. Celsius is seeking $3.5 billion in Bitcoin, along with damages and legal costs. According to the complaint, the problems began during Celsius’ bankruptcy. Celsius claimed to have borrowed Tether’s digital currency, USDT, in exchange for providing 39,542.42 BTC as collateral. When the price of Bitcoin fell, Celsius was supposed to provide additional collateral to avoid losses on Bitcoin. Celsius said Tether did not allow this and instead liquidated the bitcoins at a price roughly equal to the debt. Celsius is currently seeking the…
Important points Celsius accused Tether of cheating in a 2022 contract in which Tether provided USDT to Celsius with BTC as collateral. Tether has denied any wrongdoing, calling the lawsuit baseless and a “shakedown” attempt to recoup losses from Celsius’ mismanagement. Share this article Tether, the issuer of stablecoin USDT, has hit back at Celsius Network in response to a lawsuit filed against the company on Friday. Tether called the matter a “shakedown” attempt to shift responsibility for Celsius’ financial mismanagement to Tether.According to a recent Tether blog post, in 2022, the company and Celsius entered into an agreement in…
Litecoin remained the top cryptocurrency traded on BitPay in July and has maintained its dominance throughout the year. The Litecoin derivatives market has shrunk despite recent price recovery, indicating cautious investor behavior. In the latest BitPay report for July, Litecoin (LTC) has once again emerged as the most commonly used cryptocurrency for transactions. It’s been another month now and LTC has remained the market leader, number one all year long. This is proof that Litecoin remains the preferred digital asset for trading purposes in the cryptocurrency community. Litecoin has been making a huge comeback, which has been especially noticeable over…
Market downturns are nerve-wracking. But the reality is that market declines like the one we experienced on the first Monday of August present great opportunities to buy low. Imagine the chance to get Bitcoin for $50,000 – that’s a giveaway! The latest news in the crypto market is that the black swan event was long forgotten three days after it occurred. The bulls are more active than ever, with a large influx of investors into the RollBlock pre-sale, while Litecoin’s price has also seen some recovery. Bitcoin (BTC): To 100,000 – and beyond! Everyone was waiting to wake up to…
Litecoin founder Charlie Lee announced at the recent Litecoin Summit in Nashville that Litecoin is expanding into banking services. 🚨 Charlie Lee announced that Litecoin is expanding into banking services.At the recent Litecoin Summit in Nashville, banking giant BBVA announced the integration of Litecoin into its apps.This option to purchase Litecoin through BBVA is currently limited to Türkiye.forward! pic.twitter.com/KtNdaSlC6n— Al⚡️ (@lite_hause) August 8, 2024 The highlight of this expansion is the integration of Litecoin into BBVA’s banking app, Banco Bilbao Vizcaya Argentaria, allowing users to purchase Litecoin directly through the app. However, this new feature is currently only available to…
After experiencing a notable decline in the market over the weekend, Litecoin price has recovered. This is consistent with trends observed across other cryptocurrencies that have seen similar market recoveries. This price increase comes despite recent market volatility, increasing investor optimism. Litecoin price is on the rise as the market recovers Most cryptocurrencies are currently witnessing significant price recoveries. Bitcoin has risen to levels well above $57,000. Ethereum also saw an impressive rally, surpassing $2,500. Meanwhile, Solana increased by 11%. These developments suggest a strong recovery in the crypto market, sparking investor interest. Following the recent market surge, the latest…
People walk past the Bitcoin office in Istanbul, Turkey, on February 28, 2024. (Photo: Umit… (+) Turhan Coskun/NurPhoto via Getty Images)NurPhoto (from Getty Images) The news that around 4% of Turkey’s GDP is already spent on stablecoin purchases is certainly surprising, but not shocking, at least to those who have read my book, The Currency Cold War. The Turkish lira (TRY) is actually the fourth most used fiat currency in the crypto world, with stablecoins and “memecoins” even surpassing Bitcoin in the country. Currently, USDT-TRY (i.e. Tether Tether) is the largest pair by trading volume on Binance, with over $22…