It’s crypto season and today we’re taking a quick dive into stablecoin territory. What’s the tea with USDT and why is everyone buying it? Stablecoins are one of the few sources of sanity in the fast world of crypto. They allow you to jump into a stable currency when other currencies are doing the most. So let’s whats new in that part of crypto.
USDT: A Vaccine Against Naira Devaluation?
Outside the noise of crypto, there’s treasure waiting to be found. Let’s look at the naira situation. The Naira is doing whatever the Naira wants to do but there are smart ways to ensure that you don’t get left behind. For example, your 360,000 naira would have bought you $1000 worth of USDT in January. Selling that amount of USDT for naira on a cryptocurrency exchange today will give you about 500,000 naira now. Don’t loud it! Real Gs move in silence like Lasagna 🌚
Mark Zuckerberg is Coming for USDT
Next year will be dramatic as hell and we live for it 🤩. Remember that after Mark Zuckerberg’s testimony in front of the US congress concerning Libra coin, things went quiet. But FT reported that it’s launching as a stablecoin tied to the dollar. It’ll be like watching a modern-day battle between Zeus and Cronus and we can’t wait! 🌚
USDT is Swallowing the Market $1 Billion at a Time
Our leading stablecoin isn’t giving anybody room to breathe. At this rate, Libra may need a bulldozer to drive USDT out of its number 1 position. A new report shows that the market cap of Tether (USDT) increased by $1 billion in just 9 days to a total of $19 billion🤯. This means that at the time of writing, there are 19 Billion USDT in circulation at $1 each. Amazing!
What’s Going on with Bitcoin?
By 7AM on the 27th of November, all the major coins were red 🤧. Just a day earlier, everyone was still celebrating and shouting “Bitcoin to the moon”. Even XRP that had seen a massive 120% gain was red too. Thankfully, Bitcoin seems to be making a comeback from the red zone, back into the lord’s light. But is the rally coming? What’s next for our beloved Bitcoin? Will it really take us to the moon faster that the Apollo rocket or will we slip into another dip.
The Calm Before the Storm 🧘🏾♀️
Everything seems calm at the moment. All the coins are vibing at this point. No extreme movements in either direction. But according to analysts, we might be in for the ride of our lives. So get ready….