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In early trading on Tuesday, Litecoin (LTC) price rose 12.16% to hit an all-time high of $58.96. This was the altcoin’s biggest single-day gain since March 29th. The increase came as a relief to LTC holders following Monday’s broader market decline. However, despite the short-term rally, an assessment of LTC’s price movement on the 12-hour chart suggests that the coin may continue to face downward pressure. Litecoin bulls remain defeated As of this writing, LTC is trading at $58.29. Although down from Tuesday morning’s high of $58.96, the coin has posted a 10% price increase over the past 24 hours.…

Tether released its 2024 Q2 certification report and declared first-half 2024 profits of $5.2 billion. According to the report, Tether had a net operating profit of $1.3 billion in the second quarter of 2024 (compared to a profit of $4.52 billion in the first quarter). Tether’s net asset value also increased by $520 million to $11.9 billion as of June 30, 2024, from a reported valuation of $7.01 billion on December 31, 2024. Read more: Tether just erased previous net profit record in a single quarter Tether generates its revenue by investing the fiat currency received from the issuance of…

Tether Announces Q2 2024 Certificates: Reports Record $5.2 Billion Profit in H1 2024, Highest Treasury Bill Holdings Ever, Group Consolidated Capital at Approximately $12 Billion, Highest Ever becomes Tether Holdings Limited today announced its second quarter 2024 assurance opinion conducted by BDO, one of the world’s leading independent accounting firms. This attestation reaffirms the accuracy of Tether’s Consolidated Financial Figures and Reserve Report (CFFFRR), in addition to the traditional detailed breakdown of assets held in token reserves, as of June 30, 2024 Provides the current group’s key consolidated financial figures. Group capital. Building on the momentum from Q1 2024, Q2…

Important points Tether’s latest certification shows its profits for the first half of 2024 are $5.2 billion, and its holdings in U.S. Treasuries are at an all-time high of $97.6. Tether is one of the world’s largest holders of US debt. Tether has issued over $8 billion worth of stablecoins. In the second quarter. Tether Holdings, the largest stablecoin issuer by market capitalization, on Wednesday reported a $5.2 billion profit in the first half of this year and a large stash of U.S. Treasuries in its latest certified report. Tether issued over $8.3 billion in stablecoin USDt (USDTUSD) in the…

Litecoin (LTC), Dogecoin (DOGE), and Ripple (XRP) are three cryptocurrencies that have been on the market longer than many altcoins. LTC and XRP were created in 2011, while Dogecoin appeared two years later. So it’s not surprising to say that these trios are on par in terms of longevity. Despite the small age difference, Litecoin has gained more market trust than other coins. But how? Litecoin holders remain its backbone One way to tell whether the broader market has confidence in a cryptocurrency’s potential is to look at the number of its holders. Over the past few days, the number…

Project Pyxtrial is a joint project between the Bank for International Settlements (BIS) Innovation Hub and the Bank of England. Pyxtrial explores how technology solutions enable balance sheet monitoring of asset-backed stablecoins, providing insight into whether the underlying assets consistently exceed the debt. To support the oversight of asset-backed stablecoin issuers, Project Pyxtrial has developed a prototype data analysis pipeline that includes data collection, storage, and analysis. This provides regulators with near real-time data about stablecoin debt and its underlying assets. Adopting Pyxtrial allows supervisors to receive fully automated reports more frequently. This improves the efficiency and responsiveness of the…

Tether, the dollar-pegged USDT (USDT) stablecoin administrator, reported record profits of $5.2 billion in the first half of 2024 and a larger stockpile of U.S. government bonds than ever before, according to an announcement on July 31. . Tether’s U.S. Treasury portfolio is currently worth approximately $97.6 billion, according to the company. The increase in the company’s Treasury holdings reflects the continued adoption of the Tether (USDT) stablecoin, which Tether says is 1:1 with liquid USD-denominated assets. It is said to be backed up. This figure is based on attestation from BDO, an independent accounting firm.Graph showing market share of…

Litecoin (LTC) and Dogecoin (DOGE) have emerged as top players among the altcoin constellation that attracts a large amount of empty wallets and holders. This confirms the growing investor interest in these alternative cryptocurrencies. Santiment, a leading data insights platform, observed this trend in a 10-year study. The report shows that Litecoin, often referred to as the “silver of Bitcoin,” holds the most hodlers, with a whopping 8.08 million non-empty wallets. Meanwhile, Dogecoin, the oldest memecoin cryptocurrency, secures second place with 6.69 million wallets. Top number of Litecoin and Dogecoin wallets 3 According to IntoTheBlock data, LTC has recently processed…

As Tether has grown exponentially over the years, the composition of what backs every token has also changed. In some quarters, this has been viewed positively, particularly by the fact that the company has moved away from commercial paper of unknown quality and into the US Treasury and repo markets. However, Tether also has a variety of “other investments,” many of which are public on its Crunchbase profile. celsius network Tether’s first investment was in Celsius, a now-defunct crypto lending platform. The financial company run by Alex Mashinsky and his cronies declared bankruptcy after collapsing under the weight of their…

Litecoin moved in favor of Fidelity Digital after being added to the portfolio Update could impact LTC price movement in the short term Litecoin has been overshadowed by popular coins such as Ethereum and Bitcoin, and this is evident from its recent performance. But Fidelity Digital’s latest move could soon change that fate. Litecoin confirmed on Friday that Fidelity Digital has added LTC to its portfolio of digital products. This is a significant development that will allow Fidelity customers in the US to gain exposure to Litecoin. This includes institutional investors. The company currently manages more than $12 trillion in…