Tag: USDT

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Bitcoin Overtakes Ethereum for First Time in 24-Hour NFT Sales Shift

On November 8, 2023, the Bitcoin blockchain saw its non-fungible token (NFT) asset sales surpass those of the Ethereum platform, marking a historic change over the single-day period. According to analytics provided by cryptoslam.io, Bitcoin-based NFT transactions totaled $17.17 million, surpassing the $15.77 million in Ethereum NFT sales recorded during the 24-hour period.

Bitcoin Eclipse Ethereum NFT Sales Increase in a Day

The trend of Bitcoin NFT transactions has been on an upward trajectory as of late, and just three days ago, Bitcoin.com News highlighted that Bitcoin took second place in NFT sales over the course of a week. For the first time, Ordinal’s subscriptions to Bitcoin, its exclusive brand of NFT, surpassed sales of Ethereum in a 24-hour period on Wednesday.

NFT connoisseur Leonidas, founder of Ord.io, documented this unprecedented on-chain event, marking the occasion when Bitcoin-based NFTs leapt ahead of their Ethereum counterparts for the first time in history. Leonidas said:

   Breaking: Ordinals just invested in Ethereum NFTs for the first time. So of course I had to register it in Bitcoin forever.

Recently, ordinal entries witnessed a notable drop in activity that persisted for over a month. This decline followed an increase in daily mintage; Thereafter, the number of new registrations faced a persistent struggle until October 24. However, the tide has since turned and November 4 saw the second-highest number of registrations in a single day, with a total of 433,471.

Looking at the one-week performance of NFT sales, Ethereum has seen an increase, raising $79.61 million since Wednesday, November 1, 2023, which is a 45.66% increase over the week. previous, as reported by cryptoslam.io. In comparison, weekly Bitcoin NFT sales also saw an increase, showing a 661.60% increase from the previous week, with sales reaching $55.52 million.

On Wednesday, the “$SATS BRC-20 NFT” collection surpassed the Bored Ape Yacht Club (BAYC) series, reaching the top of the sales chart. Behind BAYC, “$RATS BRC-20 NFT” took third place in sales in the last 24 hours. The chances of Bitcoin NFTs taking the top spot next week are slim, as Ethereum already has a $24.09 million lead.
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Bitcoin Cryptocurrency news Ethereum Tether

Four Tether Execs Are Now Crypto Billionaires As Stablecoin Issuer Seeks $9,000,000,000 Valuation

The four executives behind the world’s largest stablecoin are worth more than $1 billion each now that Tether’s (USDT) market capitalization is at an all-time high.

Despite a prolonged bear market for digital assets, the British Virgin Islands-based company posted a $1.5 billion profit in the first quarter of 2023 alone, with USDT accounting for more than 50% of all liquidity in the cryptomarket, according to Forbes.

Tether can be sold for up to $9 billion if the reported financial information is correct, enough to make all four of the company’s top executives billionaires.

Chief Financial Officer Giancarlo Devasini, who owns more than 40% of Tether and is considered the company’s mastermind, is now worth at least $4 billion.

CEO Jan Ludovicus van der Velde and CTO Paolo Ardoino each own $1.8 billion of shares in the company. Meanwhile, Stuart Hoegner, the company’s general counsel, has a stake valued at $1.2 billion.

However, regulatory changes could affect Tether’s current valuation. According to Forbes, passing stablecoin regulations through Congress could give USDT’s more compliant competitors an edge.

IntoTheBlock previously revealed that the USDT market cap has set a new all-time high as it approaches the $84 billion level. The analytics firm also said that the circulating supply of USDT has risen by nearly 30% year-to-date.

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Flipster will give a big bonus of 1,500,000 USDT

As part of the launch of the Flipster (formerly AQX) name, the company today announced an additional $1,500,000 in additional rewards to encourage new users to join and trade on its exchange. Until the rewards are fully distributed, the futures exchange will run at least one campaign per week to encourage new users to sign up and trade derivatives on the Flipster platform. With the old name, the exchange has already released more than 400,000 USDT in bonuses in previous campaigns.

The first promotion for the series started on July 17, 2023 (for seven days). Massive bonuses of 110,000 USDT have been allocated. 10,000 USDT to reward new users for completing identity verification with a 10 USDT bonus. The remaining 100,000 USDT bonus is to incentivize and reward high volume traders who give the platform a try. Top performers by trading volume will be rewarded with a bonus of 10,000 USDT at the end of the weekly campaign.

Flipster reinvented futures trading with a mobile-first approach to appeal to casual cryptocurrency traders with limited experience trading derivatives (or as they say, Flipping).

The method is to specialize in derivatives trading, stripping away the app experience to make it quicker to learn and easier to use. Novice traders can open, close and monitor positions from any location. Potentially meaning that some users may earn more money on the bus to work than they do on their workdays. In addition to the ease of use, the portable experience makes trading fun and feels less like a technical task.

The shift to a mobile-first approach came after initially having a web experience similar to other futures exchanges. The traditional user interface for futures trading has a steep learning curve and is considerably more technical, which is in stark contrast to the user interface most contemporary application users have become familiar with. The data concluded that new derivatives users were not attracted to this experience as it was created for experienced traders. The Flipster team has discovered few alternative user interfaces for futures trading and none that have been successfully built to onboard new users to cryptocurrency futures trading at scale.

About Flipster

Founded in 2021, Flipster (formerly AQX) is the industry’s easy-to-use crypto derivatives trading platform. It offers users a complete platform that trades over 120 tokens with up to 50x leverage. Start at flipster.xyz to go online or download the app and Play Store. For media inquiries, including staff interviews, please contact pr@flipster.xyz