What is BitEru USDT (Bitcoin USDT)
What is BitEru USDT According to official news, BitEru USDT is a cryptocurrency
What is BitEru USDT According to official news, BitEru USDT is a cryptocurrency trading platform. The underlying technology of this platform is based on Bitcoin, aiming to solve the value fluctuation problem of current digital assets by applying the innovative functions of blockchain technology to traditional financial markets. According to the official website, BitMEX and Bitfinex have already launched Bitcoin fiat services, allowing users to buy, sell, or hold various digital currencies with Bitcoin instead of directly settling in US dollars. It is expected to be launched in May 2021, and all global customers will be able to trade through BitMEX at that time.
Bitcoin USDT
The USDT/USD trading pair of Bitcoin has been hitting new highs in the past few days, exceeding $10,000 as of now. Historically, when Bitcoin breaks the $20,000 mark, its price tends to rise below $30,000.
When the price of Bitcoin surges in the short term, it is usually accompanied by a macro trend. According to Bloomberg data, Bakkt, one of the world’s largest cryptocurrency exchanges, has grown nearly 70% in the past two months at an astonishing pace.
However, Jerome Powell, the Chairman of the Federal Reserve, also made similar remarks later on Friday, saying he “definitely” does not believe in the digital asset market. “I think we are watching the long-term prospects of Bitcoin and the entire blockchain ecosystem.” He also stated, “We will closely monitor the development of these two tokens.” (Bitcoinist)
In addition, according to The New York Times, JPMorgan Chase & Co. announced last week that it will launch Bitcoin custody services. The clients of this service include Morgan Stanley, Goldman Sachs, and other major financial companies. The company has also released a white paper on Bitcoin futures contract products. (The Daily Hodl)
It is worth noting that Bitcoin has maintained a strong momentum and steady rise since the beginning of this year. Since early May, Bitcoin has continuously closed above $48,000 for multiple days, reaching a high of over $64,000 – as of the time of writing, it is at $64,200. (Cryptopotato)
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