HomeGuidesAltcoin BuzzHow USDT Burn Impacts Bitcoin | Covid-19 and Cryptocurrency | Sharering

How USDT Burn Impacts Bitcoin | Covid-19 and Cryptocurrency | Sharering

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The global bitcoin and cryptocurrency is mostly being traded against stablecoin USDT. Data shared by Unfolded suggested that Tether’s market capitalization hit $7 billion, or approximately 3.4% of the entire industry’s value.

It appears that growth is slowing, though. In fact, Whale Alert, a Twitter bot tracking large Bitcoin and other cryptocurrency transactions, recently revealed that $220 million worth of the cryptocurrency was burned by the Tether treasury’s wallet.

OIL’S COLLAPSE IS A WARNING SIGN says Karen Ward, the chief market strategist at JPMorgan Asset Management. She noted that investors are turning very optimistic about the stock market recovery. But this may be unwarranted, as these rallies come on the back of central bank support rather than concrete fundamentals.

What is Bitcoin’s core attraction point? Simply put, this asset provides the freedom to convert its value into a form of money that defies manipulation. Before Bitcoin stepped in to play a decade ago, people had no choice but to be caged into a defective currency system. The Bitcoin protocol, based on the voluntary participation of the parties, is not controlled by anyone, and makes it possible for everyone to store and transfer value in a currency that is resistant to manipulation by central banks and global financial institutions.

Sharering SHR crypto – The term “sharing economy” emerged as an innovative buzzword about a decade ago. And now experts predict that the sharing economy will grow to $335 billion by 2025. This is because people have shown a robust appetite for most of the services that such an economy facilitates. Especially in travel, hospitality, dining, insurance, car-rentals, automotive and more.

References:

Tether Burn and Bitcoin Crash Correlation?
https://www.newsbtc.com/2020/04/22/nearly-every-past-tether-burn-preceded-a-bitcoin-crash-it-just-happened-again
https://bitcoinist.com/glaring-downside-risks-make-bitcoin-correction-likely-despite-buy-the-dip-sentiment
Coronavirus Covid-19 and the bitcoin and cryptocurrency Market
https://www.finextra.com/blogposting/18638/covid-19-outbreak-and-crypto-market
ShareRing – Blockchain for the sharing economy
https://www.altcoinbuzz.io/reviews/altcoin-projects/sharering-blockchain-for-the-sharing-economy
StormGain Interesting Cryptocurrency Trading and Exchange
https://nulltx.com/stormgain-crowned-cryptocurrency-trading-and-exchange-platform-of-the-year

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