How USDT Burn Impacts Bitcoin | Covid-19 and Cryptocurrency | Sharering

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The global bitcoin and cryptocurrency is mostly being traded against stablecoin USDT. Data shared by Unfolded suggested that Tether’s market capitalization hit $7 billion, or approximately 3.4% of the entire industry’s value.

It appears that growth is slowing, though. In fact, Whale Alert, a Twitter bot tracking large Bitcoin and other cryptocurrency transactions, recently revealed that $220 million worth of the cryptocurrency was burned by the Tether treasury’s wallet.  

OIL’S COLLAPSE IS A WARNING SIGN says Karen Ward, the chief market strategist at JPMorgan Asset Management. She noted that investors are turning very optimistic about the stock market recovery. But this may be unwarranted, as these rallies come on the back of central bank support rather than concrete fundamentals.  

What is Bitcoin's core attraction point? Simply put, this asset provides the freedom to convert its value into a form of money that defies manipulation. Before Bitcoin stepped in to play a decade ago, people had no choice but to be caged into a defective currency system. The Bitcoin protocol, based on the voluntary participation of the parties, is not controlled by anyone, and makes it possible for everyone to store and transfer value in a currency that is resistant to manipulation by central banks and global financial institutions.

Sharering SHR crypto - The term “sharing economy” emerged as an innovative buzzword about a decade ago. And now experts predict that the sharing economy will grow to $335 billion by 2025. This is because people have shown a robust appetite for most of the services that such an economy facilitates. Especially in travel, hospitality, dining, insurance, car-rentals, automotive and more.  

References: Tether Burn and Bitcoin Crash Correlation? 
Coronavirus Covid-19 and the bitcoin and cryptocurrency Market 
ShareRing – Blockchain for the sharing economy 
StormGain Interesting Cryptocurrency Trading and Exchange 

#Bitcoin #Cryptocurrency #Blockchain #BTC #ETH #Enjin #Tomochain #Electroneum #Cardano #btcusd #btcprice  


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NOTE The information discussed on the Altcoin Buzz YouTube or other social media channels is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.



Marcos Surreal
23 Apr

Good callout friend. Good afternoon!

What I like about all this is the ease with which we now have to manipulate our 'money'. And it does seem that we are going to get rid of many financial institutions. I already got rid of it :)


Temple Maverick
23 Apr

Nice post thanks for sharing. Just kidding. Well bitcoin is really giving freedom and taking it from the banks and government . so are you saying that the hope of people that the economy is reviving is premature?


Abel Cairo
23 Apr

In the case of burning a crytocurrency,  does that mean that it will no more be in existence? 


Erick Quiap
23 Apr

USDT, the "new US dollar", one of the stable crypto nowadays.

Good to hear about the burn, it would surely accelarate the price and improve the value of this awesome crypto.


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