Munzir HakimiTable of Contents
Crypto Insights Today
Tether’s $3 Billion Minting Amid Bitcoin Surge
Tether has minted an additional $3 billion in USDt stablecoins as investor interest in cryptocurrencies rises, coinciding with a historic Bitcoin price rally. The minting included $2 billion on Ethereum and $1 billion on Tron, indicating strong market sentiment. High volumes of newly minted stablecoins often reflect increased trading activity, while lower volumes suggest reduced investor appetite.
NFT Sales Remain Strong
Despite a slight decline, non-fungible tokens (NFTs) recorded a robust weekly sales volume of $158 million. This figure represents a 12.7% decrease from the previous week but is significantly higher than earlier November sales of just $93 million. Ethereum led the sales with $49 million, followed closely by Bitcoin at $43 million. Notably, Solana saw an increase in NFT buyers, reaching over 185,000 this week.
Future Predictions for Bitcoin
Georgii Verbitskii, founder of TYMIO, predicts that Bitcoin could reach $180,000 by the end of 2025, with expectations to hit at least $100K by late 2024. He attributes potential price increases to ongoing supply-side issues and declining exchange reserves that may lead to volatility and upward trends in prices.
Final Thoughts
Key Takeaways
- Tether’s minting reflects growing crypto interest.
- NFTs maintain strong sales despite minor declines.
- Predictions for Bitcoin remain optimistic amid supply concerns.
Reference
- Tether mints additional $3B USDt amid historic Bitcoin rally
- NFTs record $158 million weekly sales volume
