Tether to Buy BTC With Profits, Lightening Labs Updates Taproot Assets

Name: FS Insight
Price range: $$$

May 17, 2023

BTC -3.40% DOGE -36.76% ETH -4.34% XRP -2.31%

Market Update Stocks are rising as investors anticipate a potential agreement between congressional leaders and President Joe Biden regarding the U.S. debt ceiling. The S&P gained 1.19%, while the Nasdaq is up 1.2%. Leaders on both sides of the aisle made positive comments following negotiations. House Speaker McCarthy stated it's "possible to get a deal by the end of the week," President Biden said he was "confident" about a deal resolution. $BTC is underperforming, down 0.5% over the last day, while $ETH is down 1.0%. $XRP (+4.6%) and $DOGE (+3.4%) are outperforming the top 10. $XRP is seeing positive momentum in its court battle with the SEC. Judge Torres denied the SEC's request to seal key documents from a speech where former SEC director Bill Hinman stated Bitcoin and Ether were not securities. Dogecoin's network recently hit a new record high for daily transactions, following a rush to mint DRC-20 tokens, a mechanism that emulates the recent craze seen with Bitcoin BRC-20. Tether, the stablecoin issuer, plans to allocate 15% of its net realized operating profits to purchase Bitcoin and reinforce its already substantial reserves. Tether's CTO, Paolo Ardoino, expressed confidence in Bitcoin's resilience and long-term value, citing its limited supply, decentralized natu

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Already a member?

Reports you may have missed

FSInsight Puts Ethereum At $12,000 EOY, Bullish Forecast For Bitcoin

Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities

Market Update

By Sean Farrell • Oct 4, 2024

CRYPTO MARKET UPDATE The crypto market is moving higher today, lifted by stronger-than-expected jobs numbers. The BLS reported 254k jobs added last month, far exceeding the market estimate of 140k, while August's figures were revised up from 142k to 159k. The unemployment rate also dropped to 4.1% from 4.2%. In response, rates rallied, the DXY spiked, and the futures market largely priced out the possibility of a 50 bps rate...

BTC -3.40% ETH -4.34% RENDER -4.79% SOL -3.19% STX -2.49% TAO 2.16% TIA 2.28% WIF -6.37% XMR -4.40% WULF

Bitcoin will hit $200,000 in the second half of 2022, predicts FSInsight

Visa Unveils Tokenization Platform, SEC Appeals XRP Decision

Market Update

By Tom Couture • Oct 3, 2024

MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -3.40% falling to $60k and ETH -4.34% approaching the low $2,300s. Aptos (APT -2.02% ) is one of the few gainers in the top 100 tokens as they have strengthened their presence in Japan via an acquisition of HashPalette, a Japanese NFT service provider and developer of Palette Chain. AAVE -5.19% is also showing slight gains following...

AAVE -5.19% APT -2.02% BTC -3.40% ETH -4.34% TOTAL XRP -2.31%

Invesco ditches its plan to launch a US bitcoin futures ETF any time soon, just before the first-ever makes its debut

Bitwise Files for XRP ETF, Crypto Prices Bounce as Oil and Gold Retrace

Market Update

By Sean Farrell • Oct 2, 2024

CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -3.40% climbing back above $61,000 and SOL -3.19% moving above $145, while ETH -4.34% is lagging, trading around $2,400. Among today's outperformers is SUI 8.28% , which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...