Possible Reasons Why Some People Think Ethereum Is Dying
- More and more people are raising concerns about Ethereum.
- People are not excited about the Merge anymore.
- The fact that staked ETH is de-pegging is also not helping Ethereum’s case.
More and more people are raising concerns about Ethereum, particularly the Merge. Some people believe that we might be seeing the beginning of the end for Ethereum.
One of the main reasons why Ethereum’s light might be dimming is that people are no longer excited about the Merge. This is mostly due to the fact that the project’s deadline has been moved back again. Some people are even convinced that the Merge will happen next year, instead of 2022.
The excitement toward the Merge is also more lackluster due to ETH investors’ misconceptions about the event being proven wrong. The Merge will do nothing to reduce transaction fees and will also not allow you to withdraw staked ETH.
The fact that staked ETH is de-pegging is also not helping Ethereum’s case. Lido staked Ethereum is off its peg by about 4%, which only increases sell pressure even more. This is also diminishing people’s trust in the Merge, leading them to de-risk themselves.
People who are reluctant to sell their non-fungible tokens (NFT) to prevent losing money have also caused the DeFi and CeFi rewards to plummet. This may also have an effect on ETH.
All of this prompted analyst Nik Bhatia to draw the conclusion that Ethereum is displaying patterns that mirrors the deaths of other altcoins.
He also mentioned that “this is only a price study opinion, and [he’d] be quick to change this opinion if the price reverses. [B]ut right now, the price of Ethereum vs Bitcoin is looking very suspect.”
How to sell Tether in Prague?
Stablecoins are gaining popularity rapidly, and more people are discovering them. So, if you already know the pros of stablecoins, such as Tether, you must know how, where, and when to buy and sell USDT. So if you are looking for a place to sell Tether in Prague and want to know all the peculiarities of selling USDT, this article is for you!
Let’s first talk about what exactly Tether is. Tether is, as it was mentioned before, a type of stablecoin. Stablecoins are cryptocurrencies backed by some other currency, in the case of the tether – the US dollar. This makes the currency relatively stable because its value is not changing as much as Bitcoin or Ethereum. So if you are looking for a decentralized currency that would at the same time be stable, you should definitely consider buying Tether.
Let’s assume you already have stablecoins, and now your question is, “how do I sell my USDT?”. Although for some, it might be unclear how to sell Tether, in fact, the process is straightforward and available for anyone. There are many options to buy and sell stablecoins, but the crypto exchange is the easiest and fastest way to sell USDT.
Many wonder how to sell Tether for cash and if it’s possible. And the answer is “yes, it is!”. Special exchange services will allow you to buy and sell your coins for your preferred currency.
Since all exchanges work similarly, we will focus on exchanges in Prague. One of the best places to sell Tether in Prague is B2Cash. This exchange allows you to buy and sell Tether in just a few minutes. B2Cash is one of the most reliable platforms which will enable you to sell Tether in the Czech Republic. Thanks to its easy and initiative mechanisms, even those who have never dealt with selling crypto can do that easily. All you need to do is to find the exchange’s website and contact the manager to find out about the temporary rate. The manager will provide you with all the necessary information and guide you so you can sell your Tether in a few minutes. Many people choose B2Cash to sell Tether for cash in Prague because it also offers its users very affordable commissions.
Now that you know where to sell your Tether, you might wonder when to sell and buy USDT. Although USDT is a stablecoin, its value, as any other currency, can still change. So it is essential to do your market research before selling any asset. By regularly doing your research, you will be able to analyze the current situation and decide whether it’s suitable for selling or buying your Tether. The good news is that buying Tether is as easy as selling it, and it can also be done at the same crypto exchange.
Summing up, dealing with cryptocurrencies and stablecoins is much easier than it seems at first glance. You should simply know how to buy and sell it, find your reliable exchange, and do your research! I hope that now you have no questions about selling and buying tether, so it’s high time to join the crypto market.
Apple forced Coinbase to remove NFT transfers
Apple NFT news: Coinbase said Apple is demanding a 30% tax on the gas fee used for NFT transfers. NFT coinbase wallet users can no longer send NFTs due to Apple’s interference.
Coinbase said it could not meet the requirement even if it tried because the iPhone maker’s own in-app purchasing system does not support cryptocurrency. Note that the current stock price of Apple was not affected by the situation.
Users affected by this decision, i.e. iPhone owners, will find it “much harder to transfer this NFT to other wallets. Coinbase added that the blockage may have been an oversight, and urged Apple to contact the company with any questions.
Coinbase first announced the NFT coinbase wallet in December 2021, giving users access through the app to trading platforms such as OpenSea. The NFT token issuance and trading platform was conceived as a peer-to-peer marketplace equipped with social platform functionality. This feature should help community members find new NFT tokens and collections.
In November, Apple updated the App Store’s NFT rules, so developers can now sell tokens they have placed on the App Store. However, the new rules prohibit using cryptocurrencies, cryptocurrencies, and QR codes to unlock features in the app. Also, development companies must have a license to operate in the country where the app is sold.
Earlier, we reported that crypto investors intended to achieve the arrest of FTX through protests.
Tether says its USDT loans are “over-secured”
Tether, the issuer of the USDT stablecoin, claimed that the USDT loans it issues are characterized by overcollateralization. This was the project’s response to a recent Wall Street Journal study. In it, WSJ analysts expressed fears that Tether’s current lending practices could trigger a new crisis in the crypto industry.
According to WSJ, Tether lends its own USDT Coins to customers without exchanging them for hard currency. As a consequence, in the event of a crisis, the company may not have enough long-term liquid assets to repay the money you borrow USDT and redeem these coins. So it makes sense to apply for USDT loans to companies that offer the opportunity to pledge various stocks of large companies. For example, at the current stock price of Amazon or another corporation.
Such fears are understandable amid a steady stream of news about the collapse of the FTX crypto exchange and its implications for the crypto market. In particular, the ensuing market collapse may have also contributed to the “erosion” of Tether’s collateral.
In response to these accusations, the project published a post on Twitter with the eloquent title “The hypocrisy of the mainstream media falling asleep at the information wheel.”
The project’s management believes that the WSJ analysts are completely mistaking the USDT kinoin itself for the collateral backing it. Meanwhile, “Tether’s secured loans are characterized by over-collateralization and are even backed by additional equity if necessary.”
According to the company, 82.45% of its reserves are currently held in U.S. Treasuries and other cash equivalents. Meanwhile, the decline in the USDT token is irrelevant to the value of loan collateral. Such fluctuations in quotations are only relevant to the exchange value of the coin itself.
Recall that the project boasts the longest list of accusations against it about insufficient collateralization of its stablecoins and/or lack of transparency of information on this topic.
We previously reported that hackers have stolen $3.37 billion worth of cryptocurrencies since the beginning of the year.
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