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Hotel Booking Platform Travala Now Accepts Payments In USDT

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The hotel booking platform Travala has just started accepting payments from the most controversial crypto platform Tether and its USDT token so let’s read more in the latest Tether news.

Just a few days ago, Travala announced that Tether (USDT) is now a valid form of payment along with its two million linked properties when the CEO of the Hotel Booking platform Matt Luczynski said:

 “Part of our mission is to provide our users with a wide choice of the most well known and used cryptocurrencies so it made perfect sense for us to integrate USDT as a payment option on Travala.com.”

Furthermore, Travala now also accepts payments of Bitcoin, Litecoin, Ethereum, XRP, Binance Coin, Stellar, Cardano, Bitcoin Cash as well as their own coin AVA. Tether joined the crypto market in 2017 and the stablecoin promised to avoid the price fluctuations with the help of the one-to-one ratio with fiat currency while the merchants showed that they are eager for the Hong Kong-based coin. According to the announcement, the addition of Cardano appeared to catch the foundation by surprise.

The booking site which started on the NEO platform initially before switching to Binance’s chain at the start of September didn’t shy away from the ambition to boost the mainstream use of cryptocurrency just when it moved to BinanceSean Mackay, the lead operations at PaymentsSource which is a financial services resource stated:

 “Merchants used to accept Bitcoin, Ethereum, Ripple and convert it into Tether in order to hedge against the volatility. Now we are seeing the payments just being done directly in Tether.”

In April 2019, the New York Attorney General Letitia James charged the parent company of Tether, Tether Limited, of colluding with the parent company iFinex for using Tether’s reserve funds to cover the loss of more than $850 million in client and the corporate funds from the BitFinex crypto exchange which eventually undermined the claims USDT to stability based on the USD reserves. Despite the legal disputes with iFinex and having the fifth-highest market cap, Tether continues to see the highest daily and monthly trading volume and it now holds a 24-hour trading volume of nearly $26.5 billion surpassing that of Bitcoin’s $22.5 billion.

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Tether News

Tether Ballooned To 900 Million Tokens On TRON’s Network

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Tether ballooned
The Tron-based stablecoin Tether ballooned to 900 million tokens recently and ever since its migration to other networks besides the BTC-based Omni protocol, has shifted positively and saw its presence rising.Tron's TRC20 and Ethereum's ERC20 standard certainly had a lot to do with the positive Tron news. For instance, the Ethereum-based USDT supply currently sits at over 2.2 billion tokens while the Omni equivalent stands at near 1.5 billion. The Tron network also adds over 900 million Tethers (USDT) to this mix which shows that the once-controversial stablecoin shows no signs of stopping.As a testament to its almost ubiquitous popularity, the expansion to other networks from the Omni Layer has been good news for Tether (USDT). The asset is stable and liquid even in volatile markets.However, the crypto critics have been here all the time. From alleged market manipulation with ties to Bitfinex to terms of service revisions detailing that USDT is no longer backed by dollars, Tether has been a target of many attacks. However, Tether ballooned to 900 million tokens via Tron now - showing that critics can do nothing to stop the stablecoin from growing.Speaking of growth, the rise of the ERC20 and TRC20 standards clearly shows that Tether (USDT) retains its demand even when it is not associated with the Bitcoin Core protocol. Ever since the announcement of TRC20 Tether in March 2019, USDT supply on the Tron Network has risen to 900 million tokens and counting.What's also very interesting is the fact that Tron USDT now counts almost 22% of the total supply. Just like that, in October 2019 it made up almost 12% of all Tethers but this year, it is growing very fast. Given that the supply of USDT across all networks is 4,207,771,504, this means that TRC20 tethers make up a solid part of the total supply of tokens.In contrast to this and the fact that Tether ballooned on the Tron network, the stablecoin's amount on the Omni Layer at Ethereum's network has dwindled over the past period. Now, the Ethereum news show that the ETH network is housing over 2.2 billion tethers on chain.It will be very interesting to see what Tether brings in 2020 and how will USDT be migrated to other networks.
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Bitcoin News

Tether Stays Below $1 For Six Months, Bad Sign For BTC?

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Tether stays
Tether stays below $1 since July 2019 while Bitcoin managed to hold above the $7,000 level until the end of the year but it could turn bearish in the short term as the New Year starts. The Tether price is stuck and this could be a bad sign for Bitcoin as we are reading in our Tether news.Tether has been in the central point in the crypto community and provided massive liquidity for the markets but has also been seen as the subject of disparagement for the potential manipulation of the prices and fake Bitcoin demand. It’s obvious that Tether stays below $1 while Bitcoin turns bearish. USDT has been bearish since the contraction of the market in July. Market analyst Josh Olszewich noted:
 “i really cant get bullish again until $USDT > $1. since July, $USDT < $1 hasn’t been bullish”
The idea behind his stance is that it represents people exiting out of the USDT and back into fiat which is an outflow from crypto. As we have seen before, the total market capitalization collapsed over 40 percent during the same period. At the time of writing, Bitcoin dropped back to the $,100 level which was the support holds for the past week or so. Below this level, there’s a support line at $7,000 and weaker support at the $6,800 range. Bitcoin is now in its longest consolidation period since February last year when it stayed below $4,000 for around six weeks. Tether’s market movements have a huge impact on Bitcoin prices as well and there seems to be a correlation between USDT expansion and contraction and BTC movements according to Elias Simos:
 “Buying $BTC when Tether expands and selling when it contracts, yielded a 2x return – HODLing yielded par.”
Last month, Tether’s printers were launched again as another $20 million were minted by the Treasury just two days before the year ended. Before that, $40 million USDT entered the markets on December 11 and another $30 million on December 20. If BTC rallies occurred after the issuance of Tether tokens, the increased activity could spark another rally. According to the Tether Transparency Report, the total supply of USDT coins is $4.8 billion which is higher than that reported by the analytics platforms such as CoinMarketCap.com.There has also been a lot of migration from OMNI to Ethereum and the Tron network which could have affected Bitcoin’s on-chain activity. There are about $2 billion USDT in ERC20 and almost a billion in Tron’s equivalent.
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Bitcoin News

Ex-Circle Head Believes Tether Didn’t Manipulate Bitcoin 2017 Rally

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Tether stays
Ex-circle head Dan Matuszewski, who is now co-founder of trading firm CMS Holdings, discussed Tether and explained why the cryptocurrency was not the leading force behind 2017’s bitcoin bull run since Tether is one-to-one dollar-backed as we are reading further in the Tether news.The Ex-circle head left Circle in August 2019 and as one of the largest OTC desks which handle about $2 billion a month, Dan believes he is qualified to discuss all things crypto-related. In an interview for the On The Brink podcast, he shared some startling insights on the crypto’s most hated stablecoin- Tether.Matuszewski opened the interview by saying that Tether does not prop up the price of Bitcoin and that it was not responsible for the dramatic price rally in 2017 of bitcoin. He attributes this to the price arbitrage at an institutional level between different exchanges mainly Bitfinex and Coinbase. He explained further by saying that Coinbase was a beacon of confidence in the crypto industry. this was one of the reasons newcomers who watched out for scammers, chose coinbase when buying Bitcoin. He explained:
 “The majority of net buying inflow was on Coinbase. And that was purely because Coinbase was the fastest and easiest way to get into the industry and buy Bitcoin, hands down.”
Bitfinex has been hacked in the past and also doesn’t guarantee losses and was not appealing for the newcomers. This also led to a lower price of Bitcoin. With this in mind, Matuszweski described the movements as a daily scramble that sent every spare dollar to Bitfinex in order to buy Ether and Bitcoin. Onboarding was extremely easy because of the painless functionality to change the dollars to Tether. He continued:
 “What came in from settlements and what’s not nailed down and spoken for? Right take all that money, boom, and shoot it over to Bitfinex as fast as you can. Because you wanted to get as much money there as you could. So you could buy Bitcoin and Ether primarily… and send them over to Coinbase, and then yank the money out of the door as quick as you can.”
As such, the issuance of Tether blew up and spread the difference between Coinbase and Bitfinex but the issuance was symptomatic of what was going on with the price arbing. With the allegations that the bitcoin bull run was a result of market manipulation with the help of Tether, Matuszewski noted:
 “I can tell you billions of dollars were sent in, like to make Tether, I can 100%, without question verifiably guarantee that happened. I did it, I was there… That money was not being hypothecated, it wasn’t just coming out of thin air.”
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Tether News

Tether Reaches 4Th Top Crypto As Market Cap Drops To $200 Billion

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Tether reaches
Tether reaches 4th position as top cryptocurrency as the market cap drops to $200 billion after the bulls were not able to defend the new region and brought the price back to $7,230 during the early hours of today as we are reading in the Tether coin news.Last week was really impressive for Bitcoin since it made a bullish reversal from the low of $6,750 to $7,800 in just two days. However, Bitcoin got down about 1.29 percent on the day and is now trading at $7,316 at the time of writing. The overall altcoin market is in a state of confusion as some cryptocurrencies recorded slight gains and others are doing poorly. For example, Ethereum (ETH) is up by 0.20 percent and is trading at $148 while XRP despite the listing on Japan’s biggest exchange, recorded losses of about 1.14 percent and is trading at $0.218.Tether reaches the fourth position and it is still the most popular and widely used stablecoin which is a sign that the altcoins are in a bit of struggle as they lose their positions against the stablecoins and the market cap of which is only increased when tether launches new USDT coins. The total market cap is around $198 billion while Bitcoin’s market cap is $132 billion.Some of the other gainers and losers on the market include Ebakus which is in the green zone today with a massive gain over the past 24 hours. The cryptocurrency started the trading session with a price above the $0.007200 region and is now trading at $0.031521 which gave the traders a remarkable 340 profit on the day. EBK has a market cap of $2,846,200 and a daily trading volume of $190,944.Blockium is another one of the gainers on the market with an 84 percent profit on the day making it the second significant gainer over the past 24 hours. BOK is the native token of the Blockium token which is a project that describes itself as a unique P2P financial gamification platform for stocks and crypto traders.  Fusion, on the other hand, lost more than 50 percent of its value in the past 24 hours and the token has been on a downtrend for the past week reaching a current price of $0.2.
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