GM! Welcome back to BitPinas Key Points – cryptocurrency news in concise formats for easy reading. In today’s daily digest: Tether’s USDT has reached a new milestone, with 109 million on-chain wallets. Learn more in our featured article below.
Market analysis and updates 📈
Here are the most notable cryptocurrencies of the day:
Cryptocurrency price update
- Bitcoin (BTC): $97,794.34, 0.4% less in the last 24 hours.
- Ethereum (ETH): $3,758.68, a decrease of 2.7% in the last 24 hours.
- Solana (SUN): $216.91, 4.3% less than the previous day.
Trending Coins Update
- Quantum Resistant Ledger: $0.7333, 128.4% more than the previous day.
- but you: $0.1276, an increase of 96.5% in the last 24 hours.
- Ponke: $0.4758, 13.4% less than the previous day.
For daily price updates, check out our post on Facebook.
Tether USDT reaches 109 million, dominating the stablecoin market
USDT from Tether Inc. has reached a new milestone, with 109 million on-chain wallets with the stablecoin in the fourth quarter of 2024.
- This doubled and consolidated its position as one of the most widely held cryptocurrencies by users globally.
Key details:
- With 109 million on-chain wallets, surpasses Bitcoin and approaches Ethereum’s 128 million, Tether Inc indicated in a publication.
- There are also 86 million accounts on centralized platforms that received USDT deposits.
- Tether Inc complemented that almost half of the exchanges’ web traffic (46%) are users of emerging wallets, where USDT functions as an alternative to traditional banking.
The numbers:
- 18.7 million wallets contain between $0.01 and $1 of USDT, which, by the way, could be a significant figure for users in low-income regions.
- 31.5 million wallets contain between $1 and $1,000 of USDT. It means that these users could be using USDT as a savings tool, preferring to save their money in USDT instead of US dollars or the local currency.
- More than 1 million wallets contain more than $1,000 in USDT. This means that higher-value users also prefer USDT as the preferred crypto for disbursing salaries.
Quick Jab:
- Of course, Tether Inc would reference the USDC and DAI decoupling incident that reinforced the reliability of USDT.
What’s next? Tether Inc wants to increase USDT’s role in global financial inclusion. In the Philippines, major crypto exchanges hold USDT and are partnered with Coins.ph.
Philippines Crypto News 🇵🇭
- Coins.ph and inDrive launched the first blockchain-powered fleet.
- MetaGaming Guild is accommodation a $50,000 MGG token airdrop exclusively for $RON bettors who bet with the MGG validator.
- The Bicol Blockchain Conference was successful held on December 7 in Ayala Legaspi, Albay.
Worthy of mention 🌟
Key updates and announcements from around the world of cryptocurrencies and blockchain:
- V.C. doubted Crypto-AI projects, warning that most investments, especially in AI agents, may fail against centralized actors.
- Dogecoin hit $0.48, its highest price since 2021, when Bitcoin surpassed $100,000 and XRP rose to $2.56 amid regulatory optimism.
- The Cardano Foundation’s X account was hackedposting false claims about a Solana token and an SEC lawsuit.
Educational Corner 🎓
- With the completion of pilot tests of the country’s central bank digital currency (CBDC), check out this series of articles on Project Agila:
Regulation monitoring 📜
Stay informed on the latest regulatory updates and what they mean for you:
- Argentine senator proposed include cryptocurrency and blockchain mining in the Knowledge Economy Law to obtain tax incentives that drive innovation.
- Pavel Durov, CEO of Telegram was disputed by a French judge over accusations of failing to prevent illicit content on the platform.
- the czech republic approved new cryptocurrency-friendly legislation, offering a 3-year tax holiday and guaranteed banking rights for cryptocurrency companies and investors.
Meet Mark Joseph Bago: He plays an active role in spreading knowledge about the gaming metaverse.
- He is the leader behind the Sandbox Academy, an initiative dedicated to empowering the next generation of creators in The Sandbox Metaverse.
- Bago has also won Top 10 game jams four times.
- He is an experienced level artist and game designer at Smobler Studios.
- He is one of the speakers at the recently concluded Bicol Blockchain Conference 2024.
More news about Web3 and AI 💡
Discover the latest in web3 and AI innovation.
- GRAVITY is he first regulated decentralized exchangeobtaining a license from the Bermuda Monetary Authority.
- Ave.ai Network and XPIN associated enhance the Web3 trading experience by combining advanced trading tools with decentralized connectivity.
- Filipino Startup ChatGenie inserted an AI-powered multi-agent framework for BPO, leveraging models like GPT-4 to automate tasks and enable a hybrid workforce.
The future of web3 is games and here you have the latest news.
- Crete finished its global closed beta test, showcasing serverless gaming and the integration of Creta Multiverse and SuperClub.
- goat game sleepless its AI Agent system, which allows players to customize and deploy AlphaGOAT to compete in games 24/7.
- A new report reveals that 93% of Web3, or GameFi, gaming projects are effectively “dead,” with an average project lifespan of just four months.
Event announcements 📅
Don’t miss it: Upcoming events, webinars and meetups in the crypto space in the Philippines!
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This article is published on BitPinas: USDT reaches 109 million on-chain wallets | Key points | December 10, 2024
