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Litecoin is rallying days after plummeting to a Q2 2024 low of around $70 in June. Behind this revival is the proliferation of hierarchical inscriptions. Litecoin has over 25 million ordinal numbers engraved on it. According to Litecoin, as of June 27, over 25 million ordinals have been registered on the proof-of-work network. Remarkably, a record-breaking 1.5 million was added in just two weeks, and a massive development took place. Proof of work network. Unlike Bitcoin and Ethereum, which have relatively high fees, transactions with Litecoin are cheap. The lower fees may be due to less trading activity and better…

Tether Holdings, the largest stablecoin issuer in the crypto market, has created a new gold-backed synthetic dollar, the company announced on Monday.The token was created on the company’s new Alloy by Tether platform and will be traded as USDT via smart contracts on the Ethereum mainnet blockchain, allowing users to earn money by depositing another Tether token that tracks the value of gold. Tokens can be minted through collateral.This new service highlights Tether’s ambition to expand beyond the USDT stablecoin. The USDT stablecoin is a $112.5 billion market capitalization token that tracks the value of the U.S. dollar and is…

WASHINGTON , June 18, 2024 /PRNewswire/ — Today, Consumers Research targets Tether (USDT), a so-called stablecoin that is commonly used by some of the world’s worst actors and has garnered well-deserved scrutiny. Launched a multi-million dollar campaign. Regarding its legitimacy. “Since our founding in 1929, Consumers Research has served as a neighborhood watchdog on the market, warning consumers about bad actors and dangerous products,” said Will Hild, executive director of Consumers Research. said. “While technology has changed dramatically over the past 95 years and we are now at the point where money itself is undergoing a revolution, our mission remains…

Stablecoin giant Tether has announced a service that allows users to deposit surplus of their existing gold-backed token, XAUT, to “mint” a new type of $1 stablecoin called USDT. Did you understand? If not, you can watch the 40-second video the company posted on X. The video shows the A-for-Alloy symbol spinning around a gold bar, marble numbers on a laptop, and a greasy voice with the final pitch, “Let’s let’s.” Let’s redefine stability together. ” I think one way of saying this is to “redefine stability together.” Another says, “Join Tether as we add a new layer of synthetic…

From June 1st to June 16th, the Litecoin blockchain experienced significant activity and exhibited strong bullish fundamentals. The analysis below takes a closer look at the observed trends and highlights the most notable changes over this period. Litecoin address growth analysis The period from June 1st to June 16th saw significant activity on the Litecoin blockchain, as evidenced by the increase in the total number of addresses. Below is a detailed analysis of the observed trends, highlighting the most important changes during this period. This metric refers to the cumulative number of unique addresses created on the Litecoin blockchain. The…

Share this article Tether today announced a new digital asset backed by Tether Gold called “Alloy”. The product was created by Moon Gold NA and Moon Gold El Salvador, part of the Tether Group, and combines the stability of gold with the benefits of digital currencies.The first token, USDT, is pegged to the US dollar and overcollateralized by Tether Gold, ensuring stability in value. Users can mint USDT on the Ethereum mainnet using Tether Gold as collateral. The Alloy platform also enables the creation of a variety of tethered assets, expanding the possibilities for asset management.“Although the stabilization mechanism is…

Brought to you by the Coin Desk Podcast Studio, brought to you by Bito, which founded the first institutional-grade Bitcoin wallet in 2013. Bit Go is the gold standard in custody staking and payments today. Bit Go supports over 800 coins and processes 20% of all Bitcoin trading actions by value. Check it out now on bito.com. Like I said, we’re going to be here all day. We have a lot of powerful people joining us and one of them like coin creator Charlie Lee Charlie has joined us now. Welcome to the show. Thank you for having me. of…

According to the data, Litecoin has seen a rapid increase in active addresses, making it the most used asset in the space compared to Bitcoin and Ethereum. Litecoin active addresses more than double this month According to data from on-chain analytics firm Santiment, LTC has seen a significant increase in daily active addresses recently. Daily Active Addresses refers to a metric that tracks the total number of addresses participating in some transactional activity on the network on a daily basis. Naturally, this metric considers both senders and recipients and only counts the unique number of such addresses. This indicator may…

Share this article Tether plans to inject more than $1 billion into various trades over the next year, CEO Paolo Ardoino revealed in an interview with Bloomberg. The company focuses on alternative financial infrastructure, artificial intelligence (AI), and biotechnology through its venture arm called Tether Investments.Notably, Ardoino revealed that the team at Tether Investments is already actively evaluating numerous startup proposals each month. The company’s investment strategy is part of its broader ambitions to diversify beyond Tether USD (USDT), a stablecoin pegged to the dollar with a market capitalization of $112.4 billion.The company’s investments, totaling about $2 billion over the…

In a surprising development for cryptocurrencies, Litecoin (LTC) has surpassed both Bitcoin (BTC) and Ethereum (ETH) in network activity. In fact, according to Santiment, LTC saw a 110% increase in daily active addresses last week, making the asset outperform the two leading cryptocurrencies.This development marked the first time that Litecoin was able to surpass two prominent digital assets. Additionally, the number of active addresses for the day reached a high of 728,000, surpassing Ethereum’s 593,000 BTC and 419,000 BTC. After that, all eyes are on LTC, which has the potential to organize a spectacular rally from this indicator.Source: Blockchain ReporterAlso…