One of the biggest mysteries in crypto revolves around token issuer Tether. Crypto enthusiasts—and crypto journalists— have long tried to figure out exactly what hard assets comprise the massive reserves that tether, as a “stablecoin,” is required to keep its dollar for dollar ratio in backing bitcoin with American dollars. The question is not academic. Tether has more than $78 billion worth of tokens in circulation and is by far the largest stablecoin issuer, accounting for about half of all transactions against bitcoin on centralized exchanges. Press play to hear a narrated version of this story, presented by AudioHopper. If the market began to question the stability of those dollar…
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Bitcoin Reviewed: January
A big month for digital assets as prices drop but adoption increases
A January decline Bitcoin ended the year of 2021 a little above $46,000. There was bullish talk for the last two months of the year, after Bitcoin hit its all time high in early November. The leading digital asset saw a continuing decline throughout January, reaching a month low of $33,495 on January 24. The price has recovered from the low and now sits above $38,000. During January, almost all of the digital asset market saw a decrease in price and market cap across the board. Geopolitical events such as the Russia-USA Ukraine tensions had a negative effect on global markets. Kazakhstan, a key country for Bitcoin mining, faced national…
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Take A Step Back
Sometimes it’s good to realize how ridiculous this all is
A different approach Taking anything too seriously can be bad for stress and your day-to-day activities. I noticed I would check the markets while I was with friends or at the gym. Waking up and immediately checking my phone to see if there was any new news I missed while sleeping. Crypto is a 24/7 market, and for some that is a stressful and time consuming thing. Taking a step back and looking at everything going on, I realized there was nothing to do but laugh at the ridiculousness of the whole thing. There is a way to be involved in crypto and actually enjoy it. There’s nothing wrong with…
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The January Crypto Crash
Why is it happening?
Massive selloff Since 2022 started, the total crypto market cap has seen a decline of nearly 600 billion dollars. The last week in particular has been extremely volatile. Bitcoin is down over 16 percent over the last 7 days, according to CoinMarketCap. Ethereum is down over 24 percent, and nearly every other top digital asset is down over 10percent. A big factor of the selloff comes from stocks dropping and inflation continuing to rise. Everything from groceries to housing is getting more expensive, and there is fear in the air among retail investors. An additional part of this selloff comes from Russia’s announcement for a possible ban on cryptocurrency trading…
