Tether supplies on Ethereum are dwindling as USD Coin demand grows and grows. USDC has grown much faster than Tether (USDT) in 2021 and it is emerging as the dominant stable coin on Ethereum thanks to its popularity in DeFi according to Messari. Research by the analytics firm revealed that the demand for USD Coin has grown so much that it has consumed a large chunk of Tether’s market share this year.
Bitcoin Price Could Turn Bearish Again If It Breaks $34K
Bitcoin price failed to stay above the key $35,000 support zone against the US Dollar. BTC is declining and it could slide heavily if there is a close below $34,000. Bitcoin started a fresh decline from well above the $36,500 level. The price is now trading near $34,500 and the 100 hourly simple moving average.
Celsius users to receive yield from its $200M Bitcoin mining investment
Alex Mashinsky, the CEO of centralized crypto money market Celsius, has revealed that a share of profits from the company’s recent $200 million investment into Bitcoin mining infrastructure will be redistributed back to depositors. Celsius’ mining expansion comes as Mashinsky notes Bitcoin yields are shrinking amid the growth of DeFi, with numerous protocols offering interest in the form of BTC on Bitcoin deposits.
Katy Perry To Launch Her First NFTs On The Theta Network
Pop singer Katy Perry has announced the launch of her first-ever NFTs on the Theta Network, coming Q4 this year. Those who are interested can register to receive email or SMS notifications when they drop. Perry is no stranger to cryptocurrency, having posted the infamous “Crypto Claws” pic on Instagram in early 2018.
Twitter Drops Collection of 140 Ethereum NFTs on Rarible
Twitter released 140 NFTs on Ethereum today. The company says the NFTs are not for sale. People can get their hands on the NFTs for free via the company’s tweets, said Twitter. It’s handing out the 140 Twitter-themed tokens to users, who can then accept the bids that are racking up on the NFT marketplace, Rarible.