Polkadot

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Tether, the operator of the third-largest cryptocurrency with a market cap of almost $70 billion, announced the USDT launch on Polkadot.
Thus, the stablecoin is now available on roughly a dozen blockchain networks.

The announcement from the company described Polkadot as a “full-stack Web 3 ecosystem built for the multi-chain future.”
Adding that it has a “multi-chain application environment where activities such as cross-chain registries and cross-chain computation are possible,” Tether said the expansion to Polkadot allows the stablecoin to keep increasing its presence in decentralized ecosystems.
Company CTO, Paolo Ardoino, commented:

“We’re delighted to launch USDT on Polkadot, offering its community access to the most liquid, stable, and trusted stablecoin in the digital token space. Polkadot is on a trajectory of growth and evolution this year, and we believe Tether’s addition will be essential in helping it continue to thrive.”

With the addition of Polkadot, USDT is now available on more than ten blockchain networks, including Kusama, Ethereum, Solana, Algorand, Tron, Omni, and the recently-added NEAR.
Tether, which has received some backlash for lack of transparency in the past, changed its auditor in August and promised to provide more frequent updates on the USDT reserves after firing back against a WSJ report.
Despite still being the stablecoin market leader in terms of usability and market cap, USDT’s share has been shrinking recently, which, some believe, is a positive sign for the crypto industry.

The post Tether (USDT) Launched on Polkadot appeared first on CryptoPotato.

The world's largest stablecoin has launched on yet another popular blockchain network.


cryptopotato.com

Tether (USDT) Launched on Polkadot

Tether is now live on 15 different blockchain networks, according to the company’s latest announcement on Friday as the firm detailed that it is now supported by the Polkadot blockchain system. The stablecoin’s new support follows the token being added to the Near Protocol 11 days ago. The news further follows Tether being ordered by a New York judge to produce financial documents last Tuesday.
Polkadot Blockchain Ecosystem Adds Tether
Just recently Tether Operations Limited announced that it was added to the Near Protocol on September 12 and 11 days later, the stablecoin firm revealed it is now hosted on the Polkadot blockchain.
Polkadot (DOT) is an open source distributed ledger project that connects blockchains, decentralized finance (defi), and the Web3 ecosystem. Tether manages the largest stablecoin asset worldwide as it commands a ​​$68.24 billion market valuation on September 23.
Out of the $963.16 billion crypto economy today, USDT dominates by 7.078% of that value. On Friday, Tether said the addition of USDT to the Polkadot blockchain ecosystem is “another milestone” for the stablecoin issuer.
After being added to the Near Protocol and Polkadot Polkadot blockchain ecosystem, USDT is now hosted on 15 different blockchain networks. In a note sent to Bitcoin.com News, Paolo Ardoino, the CTO at Tether said the company is “delighted” to launch tether on the Polkadot blockchain network.
“Polkadot is on a trajectory of growth and evolution this year and we believe Tether’s addition will be essential in helping it continue to thrive,” Ardoino noted. In the last 30 days statistics show that tether’s market cap grew by 0.8% and on Friday, USDT commands $45.51 billion of the $81.84 billion in global crypto trade volume.

Tether’s volume equates to 55.60% of the $81.84 billion in swaps today and 62% of all BTC trades today are paired with tether. The Polkadot blockchain support follows a New York judge ordering Tether Operations Limited to produce financial documents that show USDT’s backing.
The judge’s order stems from a class action lawsuit filed three years ago by five plaintiffs. The case further involves the law firm Roche Freedman LLP and just recently Tether’s lawyer said the law firm should be dropped from the case following the controversy surrounding Roche Freedman’s co-founder Kyle Roche.
What do you think about tether being added to the Polkadot blockchain ecosystem? Let us know what you think about this subject in the comments section below. 



























Tether is now live on 15 different blockchain networks, according to the company&#x2019;s latest announcement on Friday as the firm detailed that it is now supported by the Polkadot blockchain system. The stablecoin&#x2019;s new support follows the token being added to the Near Protocol 11 days a...

news.bitcoin.com

Tether Reveals USDT Stablecoin Is Now Supported by Polkadot

To shed light on the protocol’s successes, Polkadot insiders have been providing key data. As it stands, these accomplishments are very helpful to the overall ‘well-being’ of DOT. However, the coin’s value has been down alongside the rest of the crypto and financial market.
Is this downturn going to be a great chance to buy for investors?
Markets are under intense selling pressure. The worry that the year-on-year inflation news on September 13 caused is still with us today.
The overall market cap for DOT fell by 15.3 percent, from $8.75 billion to $7.44 billion. Polkadot has shed 10% weekly loss on the heels of the U.S. central bank’s not so rosy inflation assessment. As of this writing, DOT is trading at $6.33, down 8.6 percent in the last seven days, data from Coingecko show.
These figures are not the only ones affecting market prices. Inevitably, the current interest rate hike of 0.75 percent by the Federal Reserve is seen to have a negative effect on the pricing. If things get much worse, this will have a negative impact on the value of DOT.
How Soon Will The Price Rally Occur?
Is there any way for DOT to recover quickly despite the general gloom in the financial markets?
If one looks at the daily tick indicators, one can see that DOT has been met with resistance around the $8.06 mark.
The price drop on September 13th is consistent with this. Once again, the price was rejected after reaching the $7.07 price resistance, sending it tumbling to the $6.12 support level.

Here’s Where Polkadot Rally May Be Seen
Indicators have suggested that the $6.12 support is generating positive momentum. Any significant momentum generated during this period can help the bulls break past the $7.07 resistance level.
The increasing optimistic forecast may suggest that Polkadot’s recent accomplishments are influencing investor confidence.

Chart: TradingView.com
The positive reversal on indicators aligns with recent tweets from @PolkadotInsider. The amount of investment projects on the protocol is one of Polkadot’s ecosystem’s most remarkable achievements.

DFG is honored to be the No.1 #venture by @PolkadotInsider! 
Apparently, this #CryptoWinter doesn’t slow us down; we keep investing and supporting the most promising projects in this space. 
Thank you for all our terrific portfolios! Let’s continue to make more history!  https://t.co/GbMIbpLLfy
— DFG (@DFG_OfficiaI) September 22, 2022
DFG Global led the list with 52 projects, followed by AU21 Capital with 39 and Hypersphere with 35.
This tweet was recently published on September 22. Following this, the price rose to a $6.44 high close. As of this writing, it appears that DOT is preparing a relief rally.
Upon detailed examination of the data, the token’s last settlement occurred at $6.48, its previous peak. This growing trend is reflected in the sentiment of investors.
Together, the momentum indicator, the commodities channel index, and the Stoch RSI are currently rising. This inclining behavior suggests that investor sentiment is rather upbeat, even in volatile circumstances such as the present.
DOT’s prior market activity likewise matched the XABCD harmonic pattern, which can advise investors and traders to buy the dip.


DOT total market cap at $6.9 billion on the daily chart | Source: TradingView.com

Featured image from The Daily Hodl, Chart: TradingView.com


To shed light on the protocol&#8217;s successes, Polkadot insiders have been providing key data. As it stands, these accomplishments are very helpful to the overall &#8216;well-being&#8217; of DOT. However, the coin&#8217;s value has been down alongside the rest of the crypto and financial market...

newsbtc.com

Polkadot Suffers 10% Weekly Loss On Hawkish Fed – Time To Buy DOT?

Polkadot has proven successful in a number of areas recently. Data from Santiment shows that there has been a dramatic increase in development on Polkadot.
But does this mean a brighter future for Polkadot? Data shows that the highest amount of transfers occurred on September 16.
In addition, there’s even better news. Parallel chaining is likewise very active. The volume of transactions using these secondary chains on the Polkadot main chain is an indicator of this action.
The GLMR token from Moonbeam and the MOVR token from Moonrivers are two of the most well-known.

Chart: TradingView.com


Polkadot Investors Up In Numbers
Investments on Polkadot are also at an all-time high, with DFG coming in first place with 52 active projects.
While these claims certainly sound promising, how will they impact DOT’s market presence? The coin’s performance on the market has improved, thanks to recent changes.
Investor confidence in Polkadot’s ecosystem and native token DOT can increase if the crypto market recovers with the broader financial markets.
Both the DeFi and the more conventional financial markets are experiencing unfavorable market circumstances that make price changes unlikely. The recent increase in interest rates by 0.75 percent exacerbates the already intense selling pressure.
DOT Challenged By Adverse Market Conditions
Fear caused by recent CPI data is still evident on the charts as bears continue to test the lower part of the Donchian channel. Even though bulls are attempting to gain momentum, adverse market conditions continue to outweigh them.
DOT is trading at $6.48 as of this writing, down 6.5 percent in the last seven days, data from Coingecko show. However, DOT is expected to receive excellent news from the charts.
The critical support at $6.04 has slowed the price’s precipitous decline. It bolsters the strengthening bullish trend, which is more evident on the 4-hour to 1-hour tick indicators.
The price has settled between $6.04 and $6.83 near the center channel. After a sharp rejection candle at the opening of today’s trading session, the bulls may be able to penetrate and consolidate above the immediate resistance level of $6.57 if there is less volatility around these price levels.
The current price movement according to the XABCD harmonic pattern indicates that investors and traders should buy the dip, so propelling the price into an uptrend.


DOT total market cap at $7.15 billion on the daily chart | Source: TradingView.com

Featured image from VOI.id, chart from TradingView.com


Polkadot has proven successful in a number of areas recently. Data from Santiment shows that there has been a dramatic increase in development on Polkadot. But does this mean a brighter future for Polkadot? Data shows that the highest amount of transfers occurred on September 16. In addition, the...

Will Polkadot Network Progress Give An Ailing DOT Renewed Vigor?

Traders should definitely keep their eye on Dogecoin (DOGE) as the popular dog meme coin hints at a 30% rally in the coming days.

DOGE hints at a 30% rally in the coming days
Dogecoin blazes past Polkadot with a wide difference seen at around $576.235 million
DOGE price spiked by 2.25%

As the second biggest proof-of-work blockchain network and the 10th largest crypto in terms of market cap, DOGE seems unstoppable at this point. Since September 18, Dogecoin has been expected to blaze past Polkadot with the demarcation seen at roughly $576.235 million.
According to CoinMarketCap, DOGE price has surged by 2.25% or trading at $0.05813 as of press time. The recent decline seen in August has propelled many traders to buy DOGE at a low price.

Bulls To Overtake Bears With 30% Rally
Judging by the 8-hour chart, the Fibonacci Retracement tool shows the August high registered at around $0.092, and it’s recent low spotted at $0.054, demonstrating a retracement by 63.4% at the $0.08 level.
If the on-chain metrics are accurate, the bears may be hit hard with a 30% price rally. More so, the 4-hour chart also shows mild indications of a bullish divergence implying Smart Money penetrating the market.
DOGE’s sudden spike may be due to the increase in volume seen in the past few days. The meme coin’s trading volume is seen to bolster from 202.16 million hitting 344.5 million. One of the reasons for DOGE’s growth could be attributed to the meme coin exhibiting an uptick in its volume over the past couple of days.
The volume grew from 202.16 million all the way to 263.32 million at press time. And it’s not just the trading volume that has shown remarkable growth, the active wallet addresses increased as well. The dynamic wallet addresses increased from 113k on September 15 to 120k on September 18.
The velocity of Dogecoin also ramped up which implies an increase in buying and selling activity.
DOGE is also bound to attract more miners, especially with its pump in hash rate which has grown by 4.86% as seen in the past week showcasing the robustness and security of the Dogecoin blockchain.
Dogecoin Social Metrics Drop
On the other hand, DOGE’s social media metrics have plummeted. August wasn’t a good month with DOGE’s social mentions shown to have plunged by 30.02% and social engagements dropped by -39.82%. The decline in social media metrics may negatively impact DOGE prices.

Chart: Messari
Another bad news is that the whales’ interest in DOGE seems to have tapered off in August with the number of wallets dropping as much as 13.04% in the past 30 days.
Polkadot has also shown some turbulence in terms of volatility and also social media metrics which could be the primary reason why traders seem to have been shying away from the token.
Overall, traders are said to remain cautious as meme coins are known for their extreme volatility. Even DOGE prices can change abruptly with any new updates or even some announcements from Elon Musk.

 
DOGE total market cap at $7.7 billion on the daily chart | Source: TradingView.com

Featured image from Reuters, Chart: TradingView.com

(The analysis represents the author's personal views and should not be construed as investment advice).


Traders should definitely keep their eye on Dogecoin (DOGE) as the popular dog meme coin hints at a 30% rally in the coming days. DOGE hints at a 30% rally in the coming days Dogecoin blazes past Polkadot with a wide difference seen at around $576.235 million DOGE price spiked by 2.25% As the sec...

Polkadot price	$6.31
Low - High 24H	$6.15 - $6.36
Market cap	$7.29B
Volume 24H	$204.99M
All time high	$54.98 -88.53% November 4th 2021
All time low	$2.70 133.84% August 20th 2020
Genesis date	N/A

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