Market
Tether Reports $13 Billion in Profits, Record US Treasury Holdings
Tether just released its latest financial report, revealing $13 billion in net yearly profits and $113 billion in US Treasury holdings.
CEO Paolo Ardoino is looking to the future with new research areas and a proactive approach to potential US stablecoin legislation.
Tether’s Report Shows Huge Wins in 2024
Tether, one of the world’s leading stablecoin issuers, reached record growth in 2024. Last December, MiCA severely reduced the firm’s EU operations, but this had little impact on its dominance. USDT continues to dominate the stablecoin market by a large margin, and its yearly financial report reflects the demand.
Tether’s latest Attestation Report shows $13 billion in net yearly profits and all-time-high US Treasury holdings. CEO Paolo Ardoino, however, is focused on the future:
“In the following months we aim to launch several new products across all Tether pillars: from Artificial Intelligence platforms and apps to telecommunications, from new financial tools and services to broader educational efforts. Thank you very much to everyone for your support. We’re unstoppable together. Nothing else matters,” Ardoino said.
Ardoino’s bullish comments reflect a number of changes at Tether. This month, the company relocated its main headquarters to El Salvador after receiving the relevant licenses in that jurisdiction. The report claims that this move will support Tether’s ambition to support financial inclusion and innovation worldwide.
Even before today’s financial report was released, there were clear signs that Tether was making huge profits. In December, the firm invested $775 million into Rumble while transferring $700 million worth of Bitcoin to the company’s reserves.
At the time, BeInCrypto reported a $10 billion profit surge at Tether, but it overshot this number by a significant margin.
“Tether Investments holds $12.5 billion in assets, stablecoin excess reserves account for most of the rest. In 2024 Tether USDT reached the impressive milestone of 400 million users globally, mostly distributed among emerging markets and developing countries,” wrote Ardoino.
In addition to these profits, the report also claimed that Tether has $113 billion in direct and indirect US Treasury holdings. In December, the Treasury acknowledged the vital role of stablecoins in the rising crypto economy.
Tether’s CEO anticipates new rules requiring stablecoins to put reserves in Treasury bonds, and he’s taking a proactive approach.
All in all, the report reflects Tether’s exceptionally strong financial state. A few other relevant numbers include $157.6 billion in consolidated total assets and $45 billion in new token issuance. With resources like these, Tether has the flexibility to explore other ventures and business avenues beyond crypto.
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
Artificial Intelligence Coins Trending: MOR, XMW, TAO
Artificial intelligence (AI) coins have seen strong movements in the last week of January, with some projects rebounding from recent lows and potentially bringing more gains in the first week of February.
MorpheusAI (MOR) surged 47% as it regained momentum in the AI sector, while Morphware (XMW) jumped 32%, fueled by expectations of a golden cross. Bittensor (TAO) climbed 19% after bouncing off its lowest level since September 2024.
MorpheusAI (MOR)
MorpheusAI is an Arbitrum-based network that calls itself the “first peer-to-peer network for general-purpose artificial intelligence.” Launched in May 2024, MOR, its native token, initially reached prices around $128 but saw a sharp decline after that.
MOR has gained 47% in the last seven days, pushing its market cap close to $100 million. It briefly touched $115 million yesterday before experiencing a slight correction, but momentum remains strong.
If the rally continues, MOR could retest $37 and potentially climb to $40 or even $45 for the first time since June 2024. However, if the trend reverses, MOR price could test support at $22, with a further drop to $16.2 if that level breaks.
Morphware (XMW)
Morphware is an Ethereum-based Layer 3 AI application that aims to provide a decentralized machine-learning platform.
XMW, its native token, has surged 32% in the last seven days, with a 26% jump in the last 24 hours, pushing its market cap to $75 million. Launched in September 2024, XMW reached an all-time high of $0.18 on December 12, 2024.
EMA lines suggest that XMW could soon form a golden cross, potentially pushing its price toward key resistance levels at $0.10 and $0.12.
However, if the trend reverses, the $0.082 support is crucial—losing it could send XMW down to $0.062.
Bittensor (TAO)
TAO is the biggest artificial intelligence crypto, with a market cap of around $3.8 billion, surpassing competitors like RENDER, FET, and VIRTUAL. It aims to create a decentralized machine-learning network using blockchain technology.
TAO price has gained 19% in the last seven days after hitting a low of $362 on January 23, its lowest level since September 2024. This recent bounce suggests growing interest as the AI crypto narrative recovers momentum.
EMA lines indicate that TAO could soon form a golden cross, potentially driving its price toward resistances at $480 and $498. If AI hype strengthens, TAO could surge to $521 or even $586. However, if the trend reverses, key supports at $458 and $435 must hold, or TAO could revisit $386 or $362.
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
Crypto Analyst Predicts XRP Price Could Touch $15 Easily If This Happens
A well-known crypto analyst, Crypto Beast, has made a bold prediction about XRP future price trajectory, suggesting that it could reach $15 with ease under specific conditions. This interesting outlook comes amidst a consolidation of prices, which is now looking to regain momentum above $3.
Banks Adopting XRP Could Send It To $15
Bitcoin was created to disrupt the traditional financial industry and compete with the existing global financial system. While many other early cryptocurrencies like Ethereum and Litecoin also built upon this premise, XRP took another approach. Its creators developed it as a solution for fast and efficient cross-border transactions, aiming to complement the existing financial infrastructure rather than replace it.
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Despite its intended role in improving financial transactions, XRP has faced years of price struggles, with long periods of decline over multiple years overshadowing its utility. This lackluster growth led many traders to lose faith, with some dismissing it as a dying asset. Interestingly, despite regulatory challenges and market downturns, the asset remained one of the top-ranking cryptocurrencies by market capitalization throughout this period.
However, recent price rallies have breathed life into XRP. Particularly, this rally has seen the value of XRP grow massively since November 2024 and is now the third largest crypto in terms of market cap. This has seen sentiment around the altcoin shifting into a more optimistic direction, with some crypto analysts who doubted before now revealing bullish price targets for its price.
One of these analysts is Crypto Beast, who recently shared a $15 price prediction for XRP. Speaking to his over 560,000 followers on social media platform X, Crypto Beast stated that XRP’s price could surge to $15 if banks worldwide fully integrate the token into their systems.
Is $15 A Pipe Dream Or A Realistic Target
There is a valid question of whether XRP can realistically trade at $15 given its tokenomics. As of now, XRP has a total supply of 99.9 billion tokens, with 57.7 billion coins currently in circulation. Its market capitalization stands at $177.6 billion, while its fully diluted valuation is around $307.8 billion. If XRP were to reach $15, its market cap would need to grow to approximately $865.5 billion, assuming no significant increase in circulating supply. This would also push its fully diluted valuation close to $1.5 trillion.
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Such a surge would place XRP ahead of Ethereum in market cap rankings and within striking distance of Bitcoin. On the surface, this might seem like a challenging milestone, but it could become feasible if the asset gains widespread adoption in cross-border payments and replaces current methods like SWIFT. Consequently, the token’s demand will increase significantly, driving sustained price growth.
According to Changelly, the XRP price can reach the $15 target sometime around 2033. At the time of writing, the altcoin is trading at $3.08.
Featured image from Adobe Stock, chart from Tradingview.com
Market
MOCHI, TOSHI Explode, MELANIA Falls
The meme coin market saw a mixed performance this week, with only a handful of tokens managing to post gains. Most top meme coins ended the week in the red, deepening investor losses.
BeInCrypto has analyzed three meme coins that stood out this week, either for their notable gains or sharp declines.
Mochi (MOCHI)
MOCHI emerged as the top-performing meme coin this week, surging 241% to trade at $0.00004016. The token is holding strong above the critical support level of $0.00003596, maintaining its bullish structure.
If MOCHI sustains support at $0.00003596, the uptrend could continue. The key resistance level stands at $0.00004867, and breaching this barrier could propel the meme coin toward the $0.00006000 mark. This move would reinforce bullish sentiment and drive further investor interest.
However, losing the $0.00003596 support level could trigger a sell-off, sending MOCHI down to $0.00002486. This decline would erase recent gains and invalidate the bullish outlook, potentially leading to increased market volatility for the meme coin.
Toshi (TOSHI)
TOSHI has been closely following MOCHI’s bullish momentum, surging 93% over the past week. Despite the strong rally, the meme coin remains stuck under the $0.00128 resistance, currently trading at $0.00112.
For TOSHI to sustain its uptrend, it must flip $0.00128 into a support level. Successfully doing so could push the token toward its all-time high of $0.00211. Breaching this milestone would reinforce bullish sentiment and signal further price appreciation.
However, if the downtrend resumes, TOSHI could retrace to the $0.00057 support level. Losing this key level would invalidate the bullish outlook, potentially erasing a significant portion of the recent gains and triggering further selling pressure.
Official Melania Meme (MELANIA)
MELANIA dropped 23% over the past week, currently trading at $2.11. The declining interest in political meme coins has played a major role in the altcoin’s recent drawdown. Without renewed investor enthusiasm, the token may continue struggling to regain momentum.
If MELANIA fails to hold the $2.02 support level, further losses could follow. A drop below $2.00 would expose the altcoin to increased bearish pressure, potentially leading to extended declines.
However, a reversal above $2.35 could invalidate the bearish outlook. If MELANIA breaks past $2.80, bullish momentum may accelerate, pushing the token toward $3.45 and signaling a strong recovery.
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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