Market
Tether Takes Crypto Education To Taiwan
Tether has launched an initiative that will see it enhance blockchain and cryptocurrency education in Taiwan, a country in East Asia.
The issuers’ USDT boasts the largest valuation among top stablecoin tokens on market capitalization metrics.
Tether Takes Crypto Education to Taiwan
Stablecoin issuer Tether has launched an initiative to enhance blockchain and digital asset education in Taiwan. To this end, it has partnered with the National Taipei University of Technology (NTUT), also known as Taipei Tech. Together, they will equip students with knowledge and practical skills.
Based on the official announcement by Tether, the ultimate goal is to promote “a well-rounded understanding of blockchain technology, digital assets, Bitcoin and stablecoins.” It will build atop course materials developed for NTUT, coupled with support from industry experts that Tether itself will assemble. As it pertains to the crypto industry, the course will focus on:
- Fundamental knowledge of blockchain and cryptocurrencies
- Critical thinking development
- Risk awareness and investment principles
- Legal and regulatory education, and
- Industry insights and career prospects
Read more: Top 12 Crypto Companies to Watch in 2024
Tether CEO Paolo Ardoino expressed the company’s resolve to empower the next generation of blockchain professionals in the region.
“Tether’s education initiative aligns seamlessly with the visions of these universities to empower their students with the knowledge and technical skills to boost the adoption of digital assets in Taiwan,” said Ardoino.
This is not the first time the stablecoin issuer is pushing toward blockchain education. The firm has collaborated with local organizations to educate students and professors to attend blockchain-related education.
USDT Issuer Doubles Down on Crypto Industry Growth
Tether’s industry commitment continues to grow, as seen with its recent launch of Alloy, a tethered asset backed by Tether Gold (XAUT). This new token aims to provide stability in the digital economy. It combines the strengths of a stable unit of account with the security and reliability of gold.
A few days ago Ardoino highlighted that over 300 million users depend on Tether’s USDT stablecoin. The comment was in response to an article suggesting that dollar-backed stablecoins contribute to the demand for US public debt.
“USDT is being used by more than 300 million people across the world as the digital dollar, providing a lifeline utility to entire communities in developing countries. These people are underserved by the banking industry, mostly remaining unbanked and subject to high inflation and fast devaluation of their national currencies,” Ardoino wrote.
Read more: 9 Best Crypto Wallets to Store Tether (USDT)
The firm has also made efforts to enhance cross-border payments, particularly in emerging markets, investing $18.75 million into XREX Group. Tether’s USDT is the largest stablecoin on market capitalization metrics, recording $112.5 billion (nearly 70%) in a $162.9 billion space.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
LayerZero On The Rise: ZRO Bullish Momentum Points To New Highs
LayerZero (ZRO) is currently experiencing strong bullish momentum, positioning itself for potential new highs in the future. This sustained upward trend indicates growing investor confidence and increased market interest in the platform’s capabilities.
As ZRO continues to gain traction, technical indicators suggest that this momentum could drive the price to unprecedented levels. Traders and investors are closely monitoring this movement, anticipating further gains and strategic opportunities as LayerZero pushes toward new market peaks.
This article delves into providing an in-depth analysis of ZRO’s current bullish momentum and its potential to reach new highs. By examining current price performance and technical indicators, this article seeks to provide strategic advice for investors looking to capitalize on ZRO’s potential growth.
ZRO was trading at around $4.15 and was up by 36.66% with a market capitalization of over $456 million and a trading volume of over $816 million as of the time of writing. There has been a 24-hour increase of 36.62% and 152.75% in ZRO’s market capitalization and trading volume respectively.
Analyzing The Current Bullish Trend Of ZRO
A technical analysis of ZRO’s price action on the 1-hour chart reveals that the crypto asset is actively bullish and trading above the 100-day Simple Moving Average (SMA). Since facing rejection at the $2.69 support level, ZRO has been consistently bullish and is currently attempting to break above the $4.28 resistance level.
The formation of the 1-hour William alligator signals that the price of ZRO may continue to extend its bullish trend as both the alligator lip and teeth are currently trending above the jaw after a successful cross above it.
On the 4-hour chart, it can be observed that ZRO is actively bullish. Although the price is attempting a short-term pullback by dropping a bearish candlestick, the crypto asset may extend its bullishness in the long run.
Additionally, the 4-hour William alligator indicates more bearishness for ZRO as both the alligator lip and teeth are actively trending above the jaw after moving above it.
ZRO Price Forecast
Analyzing potential future possibilities of ZRO’s price movement reveals that if the digital asset breaks above the $4.28 resistance level, it may move higher to challenge its all-time high of $5.62. If this level is breached, ZRO might move on to create a new all-time high.
However, if the price of ZRO experiences rejection at the $4.28 resistance level, it will begin to descend toward the $3.27 support level. Should the asset breach this level, it may continue to decline to test the $2.69 support level and possibly move on to test other higher levels if it breaches the $2.69 level.
Market
This Is How Ripple (XRP) Price Recovery Will Take Place
Ripple (XRP) price momentum has turned bearish, and its potential for recovery has also cooled down.
One of the biggest reasons is the lack of activity among XRP holders, rendering their optimism useless.
Ripple Investors Try but Not Too Hard
XRP price is bound to be impacted by both the attempt and lack of participation noted among the investors. The presence of XRP holders remains weak, affecting the potential for recovery.
The low level of engagement is evident, with active addresses averaging under 20,000 on a daily basis. This lack of activity suggests a decrease in short-term trading and concern about bearing losses.
Read More: How To Buy XRP and Everything You Need To Know
However, despite the weak participation, conviction among XRP holders remains strong. This is reflected in the Mean Coin Age (MCA), which has noted an uptick. The increasing MCA indicates that investors are holding onto their XRP for longer periods, showing faith in the asset’s future potential.
The rise in MCA also suggests that investors are refraining from moving their holdings around. By holding their assets rather than engaging in frequent transactions, they demonstrate a long-term belief in XRP. This behavior is often indicative of confidence in the cryptocurrency’s eventual recovery.
While the current low level of daily active addresses is a concern, the strong conviction shown by the uptick in MCA provides a silver lining. If this trend continues, it could help stabilize XRP’s price and support a potential recovery, as long-term holders typically contribute to market stability.
XRP Price Prediction: Tall Hike Ahead
The XRP price is trading at $0.43, recovering from the lows of $0.41 over the last 24 hours. Based on the aforementioned cues, consolidation is likely under $0.46. A breach, however, could help recover the recent losses.
Read More: Ripple (XRP) Price Prediction 2024/2025/2030
But if the bearish cues continue to dominate the altcoin, the XRP price could lose the critical support of $0.41 again. This would invalidate the bullish-neutral thesis, resulting in further drawdown.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Shiba Inu (SHIB) Price Recovery Likely as Losses Run up by 42%
Shiba Inu’s (SHIB) price is bouncing back from four-month lows, looking to recover the losses witnessed in the past month.
Investors also have a shot at making the most of this opportunity, as selling will likely take a break for now.
Shiba Inu Investors Lose Big
While Shiba Inu’s price only declined by 15% over the last week, the impact on investors was three times larger. The total supply in profit dropped by close to 42%, falling from 75% to 33% in a day.
This is because about 434 trillion SHIB, worth $6.7 billion, was bought between $0.00001900 and $0.00001500. As the meme coin slipped to $0.00001281 during intra-day lows yesterday, this supply lost its profitability completely. This will keep investors from selling now, as such a large supply would only be sold when it bears profit again.
Furthermore, most investors anticipating recovery and profits will likely turn to accumulation. The Market Value to Realized Value (MVRV) ratio suggests a good opportunity to do so.
The MVRV ratio assesses investor profit and loss. Currently, Shiba Inu’s 30-day MVRV stands at -14.5%, indicating losses, which may lead to buying pressure.
Historically, SHIB’s MVRV between -7% and -18% usually signals the start of recoveries and rallies, marking an opportunity zone for accumulation. This could help steer Shiba Inu’s price upwards.
Read More: How To Buy Shiba Inu (SHIB) and Everything You Need To Know
SHIB Price Prediction: The Critical Range
The range between $0.00001473 and $0.00002093 is critical to Shiba Inu’s price as it houses 73% of all SHIB circulating supply. For this reason, the meme coin could find considerable resistance here.
Nevertheless, investors’ attempts to recover their profits would motivate them to push SHIB upwards. Once $0.00002093 is breached, the altcoin would have a shot at profits.
Read More: Shiba Inu (SHIB) Price Prediction 2024/2025/2030
However, if this breach fails, Shiba Inu’s price might consolidate within this range. This would continue until stronger bullish cues help the coin escape; otherwise, the bullish thesis would be invalidated.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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