Browsing: Markets

Iran and Russia are reportedly collaborating to launch a gold-backed stablecoin, tagged the “Token of the Persian Gulf.” The primary purpose of the stablecoin will be to facilitate cross-border payments.

In one of its most impressive rallies in about a year, Bitcoin skyrocketed by double digits, charting a two-month high above $21,000. Almost $600 million out of the $650 million in total are short positions.

The widely used Bitcoin Fear and Greed Index entered a neutral zone after several months of fear, over the weekend. The indicator rose to its highest point since April 5, 2022, a neutral level of 52, on January 15. The action comes after Bitcoin’s (BTC) 249% increase over the previous seven days.

Tether announces on-chain swap of $1 billion USDT to ERC20. Tether has also recently clarified that its cash reserves for issuing USDT to Alameda were not on Alameda’s balance sheet.

Things are getting interesting in the silver market as there is a possible Silver squeeze happening. Ronan Manly of BullionStar.com revealed that more than 50% of deliverable silver on COMEX is suddenly ‘not available.’ Manly referenced a tweet by metals expert, Nicky Shields, who said that they are mildly bearish Gold for the year ahead ($1830 by 2023s conference) but super bullish Silver ($28.30) as the focus was on physical tightness driven by unprecedented demand.

Bitcoin’s movements in relation to other assets show signs that investors see it as a haven again, after a period when it was primarily traded as a risk asset, according to Bank of America Corp.

TRON’s Founder – Justin Sun – stated he began out buying Huobi Token (HT) in 2013 and is presently amongst the most important holders of the asset. The price of Huobi has surged  by 88% in the past week since Sun was appointed as marketing consultant to Huobi. 

The former Terra network’s native token, Terra Luna Classic, is seeking to make a powerful comeback from the dead. Despite the significant sell-off of Terra ecosystem tokens, LUNC has managed to recover along with the cryptocurrency market.

As Bitcoin and other cryptocurrencies fall back into the red, the total value of daily liquidations has surpassed $350 million.

Social media giant Meta has integrated non-fungible tokens (NFTs)  into their major social media platforms. According to Meta, NFT developers can now display their collectibles on Facebook and Instagram.