Multichain Network token MULTI rose nearly 30% after several users confirmed that the cross-chain bridge services resumed operation on its official Telegram channel on June 5. According to CryptoSlate’s data, MULTI reached as high as $4.89 before retracing to $4.39 at the time of writing. Multichain resumes operation On June 5, Multichain’s VP Tung Dinh corroborated the…
Tether’s USDT sets new all-time high in spite of regulatory concerns
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Binance CEO highlights USDT growth amidst rival issues
Ad Binance CEO Changpeng “CZ” Zhao highlighted how Tether’s USDT has grown amidst the issues plaguing its rivals. In a March 21 tweet, Zhao described how Binance USD (BUSD) was forced to stop other mints despite being regulated by the New York authorities and audited by “big audit firms.” According to him, BUSD was “the most fiat-backed…
Research: USDT, USDC exchange balance going in opposite directions
Often an overlooked part of the cryptocurrency market, stablecoins can be used to determine the current state of the market. Stablecoin balance on exchanges represents “dry powder,” or idle liquidity that can become a strong driving force in the market. The total stablecoin balance on exchanges has only recently become a significant factor in the…