USDT has surged to a market capitalization of $83.2 billion, successfully recuperating all the losses suffered since the collapse of the blockchain project Terra over a year ago.
Coin In Pepper In Hammer In Door
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Bitcoin and Cryptocurrency Prices Expected to Decline in Anticipation of an Impending Liquidity Shock, Analysts Warn
Analysts suggest that the recent boost in risk assets, including cryptocurrencies, due to improved liquidity conditions this year is likely to reverse once the U.S. debt ceiling is lifted and the Treasury, along with the Federal Reserve, resumes their tightening measures.16
Investors were eagerly anticipating the House vote on the debt limit deal, which was set to take place on Wednesday.12
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Bitcoin remains stagnant, inching closer to marking its first month of decline in 2023. Meanwhile, Ether experiences a slight increase but appears poised to end May in the red as well.17
The crypto debates have become progressively more polarized and politicized, exemplified by a recent CoinDesk article highlighting a contentious mining facility in New York.18
The miner stands to earn up to $75 million in management fees for the Celsius mining rigs over a span of five years, making it a highly lucrative venture.16
Florida's governor and the Republican Party's newest frontrunner engaged in a Twitter conversation with Elon Musk, discussing the realms of cryptocurrency and central bank digital currencies.20
The recent hedging activity of market makers, who consistently take the opposite side of investors' trades, appears to have effectively maintained price stability within a narrow range.20