USD Coin (Wormhole) (USDC(WormHole)) news

USDT vs USDC: A Simple Guide for Beginners

USDT (Tether) and USDC (USD Coin) are both stablecoins—cryptocurrencies designed to keep their value at $1, pegged to the US Dollar. While they serve the same purpose, there are key differences between the two that could make one better for your needs. Let’s break it down simply in this article. Key takeaways - Both USDT and USDC are stablecoins that offer a stable value linked to the US dollar, reducing market volatility. - USDT was launched in 2014, making it the first and most widely used stablecoin. - USDC, launched in 2018, is known for being more transparent and regulated. - USDT vs USDC? Choose USDT for liquidity and trading, or USDC for safety and compliance. What is stablecoin? Stablecoins are crypto assets designed to maintain a stable value. They are usually pegged to the value of another asset–most commonly a fiat currency. Stablecoins can be categorized into three main types: 1. Fiat-backed: These stablecoins are backed by reserves of fiat currencies, such as the US dollar. USDT and USDC fall into this category. 2. Crypto-backed: These are backed by other cryptocurrencies, usually include other stablecoins and mainstream crypto assets like ETH, BTC. 3. Algorithmic: These stablecoins use algorithms and smart contracts to manage their supply, without relying on collateral. Key benefits of stablecoins overall - Stablecoins offer a way to hedge against the extreme price swings seen in cryptocurrencies. - They facilitate global lower-cost payments using blockchain rails. - Some stablecoins offer attractive yields, making them an appealing choice for investors. Stablecoins and other digital assets What is USDT (Tether) - the world's first stablecoin? Tether (USDT) was introduced in 2014 and is the most widely used stablecoin. It is pegged 1:1 to the US dollar, and its value is supported by a reserve of fiat currency and other assets. Although USDT has faced criticisms, particularly regarding its transparency, it remains the largest stablecoin by market capitalization. The current market capitalization of USDT is $144,201,607,371 and is ranked #3 on CoinGecko (as of March 28, 2025). USDT is the biggest stablecoin in terms of market cap Key features of USDT Multi-Blockchain Support: Available on Ethereum, Tron, Solana, and more. High Liquidity: USDT is one of the most liquid stablecoins available, hence it is preferred for trading. Wide Adoption: Accepted on most exchanges and platforms, making it easy to trade, send, and receive value. How USDT works When a user sends USD to Tether’s bank account, an equivalent amount of USDT is created using a smart contract. The USD is held in reserve, users can redeem their USDT for USD whenever they wish, and Tether burns the tokens while releasing the corresponding amount of USD from the reserves to the user's bank account. Visit the USDT transparency page for more details. What is USDC? USDC was launched in 2018 by Circle and is backed 100% by highly liquid cash or cash-equivalent assets. USDC’s value is always redeemable at a 1:1 ratio with the US dollar. It is also known for its transparency, as Circle regularly conducts third-party audits of its reserves. The current market capitalization of USDC is $60,134,104,803 and is ranked #7 on CoinGecko (as of March 28, 2025). Key features of USDC Regulatory Compliance: USDC follows strict US and EU regulatory guidelines, making it a safe and compliant choice Multi-Blockchain Support: Available on Ethereum, Solana, and others. Wide Adoption: Used across exchanges and DeFi platforms. Transparency: Regular third-party audits of reserves. How USDC works Similar to USDT, USDC works by issuing tokens when a user deposits USD into Circle’s account. The corresponding USDC tokens are created and held in reserve, and users can redeem USDC for USD at any time. Visit the USDC transparency page for more details. Differences between USDT vs. USDC: You need to know this Feature USDT USDC Winner Transparency Limited auditing Full monthly audits USDC Regulation Less regulated Highly regulated USDC Market Cap Higher Lower USDT Adoption Broadest usage Growing in DeFi USDT Stability Occasional depeg Occasional depeg Tie Fees/ Speed Low on Tron Preferred on ETH Tie (depends on blockchain) Which is better: USDC vs. USDT? USDC: If you prioritize transparency, regulatory compliance, and safety, USDC is a great choice. It's especially beneficial for long-term holders and those involved in DeFi applications. USDT: If you need high liquidity and wide adoption for short-term trading, USDT remains the top choice. Are there any other USD stablecoins? While USDT and USDC are the dominant stablecoins, other options like DAI (a decentralized, Ethereum-based stablecoin) and Ethena USDe are also emerging. The choice of stablecoin depends on the blockchain network you prefer and the platforms you wish to interact with. Dominance of all stablecoins (data source: Coingecko) Where can I buy USDC and USDT? You can buy and sell USDC and USDT easily on Bitget via credit/debit cards, e-wallets, p2p market, or other local payment options. Here’s how: How to buy USDC and USDT on Bitget: - Create an account on Bitget, or log in into your existing one; - Go to the Buy Crypto section. - Choose your preferred payment method and complete your purchase. Learn more: User Guide: How To Buy Cryptos Via Credit/Debit Cards User Guide: How To Buy Cryptos Via P2P Trading User Guide: How To Buy Cryptos via OTC, Cash Conversion, Third-party Payments Convert and swap USDT to USDC (or vice versa) Need to swap USDC to USDT or the other way around? We've got you! Bitget Convert simplifies the conversion process by providing the best exchange rates without the need for multiple trades. All you need to do is select the USDT/USDC or USDC/USDT, enter the amount you want to swap, then select Confirm, and the exchanged crypto will be deposited into your spot account. Convert USDT/ USDC now on Bitget! USDC vs USDT? Both USDC and USDT play crucial roles in crypto by providing stable value and acting as a bridge between fiat and digital assets. Whether you choose USDT or USDC depends on your specific needs. USDT is better for those looking for liquidity and wide adoption, while USDC stands out for its transparency and regulatory compliance. Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading guidance. Qualified professionals should be consulted prior to making financial decisions.

Why USDC Is the Safest Stablecoin

As cryptocurrency continues to evolve, stablecoins have become a focal point in the market. Among these, USDC (USD Coin) stands out due to its transparency, stability, and compliance, gaining increasing recognition from users. This article delves into the concept of USDC, its issuance mechanism, market presence, and advantages. What is USDC? USDC (USD Coin) is a stablecoin pegged to the US dollar, meaning each USDC is backed by an equivalent amount of USD. Launched by Circle and Coinbase, USDC ensures its 1:1 peg to the dollar through smart contract technology on the Ethereum blockchain. The issuance of USDC adheres to strict transparency and compliance principles. For every USDC issued, Circle deposits an equivalent amount of USD into regulated financial institutions, and regular audits disclose these reserves to the public, ensuring USDC's stability and credibility. USDC's Market Presence Since its launch in 2018, USDC's market value and circulation have steadily grown. As of 2024, USDC has become the world's second-largest stablecoin by market capitalization, second only to USDT. This reflects the increasing demand and trust in USDC. It boasts high trading volume and liquidity across major cryptocurrency exchanges, making it a popular choice among investors and traders for crypto transactions and fund transfers, further solidifying its market position. Four Key Advantages of USDC Thanks to its transparency and compliance, USDC has earned recognition and adoption from numerous financial institutions and enterprises. For example, global payment giants Visa and Mastercard have accepted USDC as a means of payment and settlement. This level of acceptance lays the groundwork for USDC's widespread application worldwide. ● Transparency: USDC's reserves are managed by regulated financial institutions and undergo regular audits, ensuring its transparency and credibility. ● Compliance: USDC follows strict compliance requirements, meeting regulatory standards in major jurisdictions worldwide and reducing compliance risks. ● Technical Advantage: The stronger the network security, the lower the vulnerability threat to stablecoins. USDC, based on Ethereum's ERC-20 standard and smart contract technology, boasts excellent compatibility and security. ● Market Recognition: With widespread acceptance from financial institutions and enterprises, USDC further strengthens its market position. Bitget's Zero-Fee USDC/USDT Spot Trading Campaign Now that you understand what USDC is and its value in the stablecoin market, it's crucial to hold a certain amount of USDC or adopt it as their primary trading pair stablecoin. Currently, Bitget is launching a zero-fee USDC/USDT spot trading campaign. You can enjoy zero fees for placing and taking orders in USDC/USDT spot trading. Additionally, spot trading strategies and spot copy trading are included in this promotion. About Bitget Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features, including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

Understanding USDC: The Compliant Stablecoin For The Modern Financial World

What Is USDC? USDC (USD Coin) is a stablecoin introduced in 2018 by Circle under the Centre consortium. It is carefully designed to maintain a stable value by being pegged 1:1 to the US dollar. USDC strives to combine the benefits of digital currency, such as speed and cost-efficiency, with the stability associated with traditional fiat currencies. Each USDC token is backed by fully reserved assets held in regulated financial institutions. To foster transparency and trust, regular audits by independent firms ensure that these reserves match the circulating supply. How To Get USDC USDC can be acquired directly through Circle's website, where users can purchase USDC with fiat currency. To redeem USDC for USD, users can also head to the Circle platform, which provides a streamlined process for converting USDC back to USD with liquidity and ease of access. Additionally, acquiring USDC is straightforward and can be achieved through various cryptocurrency exchanges. For a seamless experience, platforms like Bitget offer easy access to USDC through direct purchases or conversions from other cryptocurrencies. Both methods offer hassle-free and reliable processing USDC transactions. How USDC Is Being Utilised And Its Expanding Reach USDC has gained significant traction in the cryptocurrency ecosystem since it's widely accepted on major exchanges, wallets, and decentralised applications (dApps). It serves multiple purposes, including trading, lending, and providing liquidity in DeFi (decentralised finance) protocols. Businesses use USDC for cross-border payments, leveraging its stable value to facilitate instant, low-cost transactions globally. Moreover, it is used in smart contracts for various financial services as a reliable and stable medium of exchange within the volatile crypto market. The Ideal Stablecoin For Trading And DeFi Choosing USDC for trading and DeFi services offers numerous advantages. Its robust regulatory framework and transparent reserve backing make it a trustworthy and stable asset for both individual and institutional investors. Compliance with financial regulations ensures that USDC operates within a secure and regulated environment, thus reducing the risks associated with other digital assets. Its quick settlement times and low transaction fees enhance the efficiency of financial operations and, consequently, make it an ideal choice for various applications, from everyday transactions to complex DeFi activities. USDC's strong regulatory compliance and transparency provide a solid foundation for trust and reliability. This makes it an attractive option for those looking to engage in trading, lending, or any financial service that benefits from the stability and security of a fully backed stablecoin. By leveraging platforms like Bitget, users can easily access and trade in USDC to enjoy the benefits of a stable and compliant digital currency in the evolving world of finance. How USDC Leads in Regulatory Compliance USDC's commitment to regulatory compliance is a cornerstone of its design and operation. Circle, the primary issuer of USDC, adheres to stringent regulatory standards to guarantee the coin's integrity and reliability. Here are the key aspects of USDC's compliance: U.S. Compliance All USDC reserves are held with regulated financial institutions in the United States. These institutions comply with strict regulatory standards to ensure the safety and security of the assets backing USDC. Circle conducts monthly audits of USDC’s reserves that are performed by independent third-party accounting firms and verify that the amount of USDC in circulation is fully backed by equivalent USD reserves. This transparency provides users with confidence in the stability and backing of the coin. USDC also complies with all relevant U.S. financial regulations, including anti-money laundering (AML) and know-your-customer (KYC) requirements. This compliance helps prevent illicit activities and makes sure that USDC transactions are conducted within a legal and secure framework. Circle’s adherence to regulatory requirements has allowed USDC to be widely accepted across various platforms and institutions in the U.S. for even better credibility and usability. MiCA Compliance (European Union) The European Union’s MiCA framework sets out regulations for the issuance and trading of crypto-assets, including stablecoins like USDC. Compliance with MiCA ensures that USDC meets high standards of consumer protection, market integrity, and financial stability. USDC has been classified as an e-money token (EMT) under MiCA, which means that USDC adheres to strict requirements regarding the backing of tokens, operational resilience, and transparency. Circle's compliance with these regulations ensures that USDC operates within a clear and regulated legal framework in the European market. By meeting MiCA standards, USDC is subject to regulatory supervision by relevant European financial authorities. This oversight provides additional assurance to users regarding the stability and reliability of USDC and therefore is necessary for the widespread use of USDC in this region. Leading exchanges like Bitget offer USDC/EUR for easy onboarding. Compliance in other major financial regions In Asia, USDC’s compliance efforts focus on adhering to local regulations governing digital assets. This includes AML and KYC requirements and ensuring that reserves are held with regulated financial institutions. Circle works closely with regulators in key markets such as Singapore and Japan to ensure that USDC meets regional compliance standards. USDC is gaining traction in Latin America as a stable and reliable digital asset as well. Compliance with local financial regulations, including transparency in reserve management and adherence to AML and KYC requirements, is crucial for its adoption in this region. Circle not only collaborates with local financial authorities to ensure that USDC remains compliant with regional standards but also actively engages with international regulatory bodies and industry groups to stay ahead of evolving regulatory landscapes. This means participating in discussions about global standards for digital assets and ensuring that USDC complies with best practices in financial regulation worldwide. USDC’s compliance framework not only ensures its stability and reliability but also sets a benchmark for other stablecoins in the industry. By maintaining high standards of transparency and regulatory adherence across multiple regions, USDC provides a secure and trustworthy option for users looking to navigate the complex world of digital finance. This makes USDC an excellent choice for trading, DeFi services, and everyday transactions. Buying Crypto with USDC USDC offers a streamlined method for purchasing various cryptocurrencies. Using USDC, users can quickly and easily buy other digital assets on numerous cryptocurrency exchanges. Platforms like Bitget allow users to leverage USDC's stable value, which helps mitigate the risk of price volatility during transactions for efficient trading. The process involves selecting USDC as the base currency and choosing the desired cryptocurrency to purchase. For example, you can select the USDC category on the Bitget Spot Trading website to see all USDC pairs. Trading Futures Pairs in USDC USDC's stability and regulatory compliance make it an attractive option for trading futures pairs. Traders can use USDC as collateral for futures and perpetual contracts to benefit from its stable value and liquidity. Futures trading with USDC is available on various platforms, including Bitget, where users can trade a wide range of cryptocurrency futures pairs in USDC. The use of USDC ensures that margin requirements and settlements are predictable for a reduced level of uncertainty associated with more volatile cryptocurrencies. What Lies Ahead For USDC The future prospects for USDC are driven by its strong foundation of compliance, transparency, and adoption. Even when the regulatory landscape for digital assets continues to evolve, USDC is well-positioned to thrive due to its proactive approach to compliance and its commitment to maintaining high standards. Increased institutional adoption is likely as more institutional investors enter the digital asset space and take advantage of this stablecoin because of its transparent and regulated nature. USDC is also poised for expansion into new markets as regulatory clarity improves in various regions. Its compliance with regional regulations, such as MiCA in the European Union, positions it well for adoption in new markets. Furthermore, the integration of USDC with traditional financial services is expected to deepen, hence more seamless and efficient solutions for cross-border payments, remittances, and other financial services. USDC's stability and compliance will drive its adoption in the growing DeFi and Web3 ecosystems, where it is likely to play a significant role in various DeFi protocols, lending platforms, and decentralised applications. Technological advancements from Circle are expected to lead to enhancements in scalability, security, and usability and further cement USDC's position as a leading stablecoin in the digital asset ecosystem. Overall, this stablecoin's strong regulatory compliance, transparency, and widespread adoption should unapologetically drive its continued growth and success in the evolving digital asset landscape. Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

USDC vs USDT: Differences Explained

Stablecoins have emerged as an integral part of the cryptocurrency market. Notably, stablecoins like USDT and USDC are garnering increasing attention from investors due to their stable value and effective risk management. But what are the differences between USDC vs USDT? This article will dive into the uses, risks, and interest-related aspects of stablecoins. USDC vs USDT: Which one is the best stablecoin? Stablecoins are a type of cryptocurrency. Virtual currencies generated by algorithms or proof-of-stake mechanisms are prone to volatility and lack the ability to store value, making them unsuitable to replace centralized currencies and are often viewed as speculative assets. The core idea behind stablecoins is to create a decentralized ledger-based currency with a mechanism to maintain stable value. Some view stablecoins to be tokens backed by centralized assets, with their value directly tied to the value of these assets. USDT (Tether) and USDC (USD Coin) are the most well-known stablecoins in the market. Both are pegged to the US dollar at a 1:1 ratio, meaning their value is equivalent to one US dollar. USDT was created by Tether Limited, while USDC is a joint effort by Coinbase and Circle. USDT and USDC are not only the most recognized stablecoins, but they are leading in market capitalization and trading volume on a daily and monthly basis. These exceptional stablecoins bridge the gap between crypto and fiat currencies, allowing investors to trade in US dollars without the volatility associated with regular cryptocurrencies. Additionally, crypto enthusiasts can use USDT or USDC to make fast and reliable transactions on blockchains. USDC vs USDT: What are the main differences? So, what sets USDC and USDT apart from each other? While these stablecoins share many similarities, including their names, they also have significant differences that are crucial for the cryptocurrency market. Firstly, the issue of transparency and credibility. USDT is produced and fully controlled by Tether Limited, meaning there is no third-party or centralized authority to influence its management. In contrast, USDC has been subject to continuous regulation and oversight by US authorities and banks since its inception. This oversight has bolstered traditional investors' and institutions' confidence and demand for USDC. Secondly, in terms of maintaining price stability, they differ noticeably despite both being stablecoins. USDT uses a reserve system, where each token is backed by financial reserves in US dollars or other assets controlled by the company. On the other hand, USDC uses a "capital control" system, where each token is backed by US dollar assets held in bank accounts. This makes the USDC system more transparent and allows for more precise reporting, which is why we often see asset reports or proofs for USDC. Lastly, these stablecoins are issued on different blockchains. USDC is an ERC-20 token issued on the Ethereum blockchain, whereas USDT is issued on multiple blockchains, including Ethereum (ERC-20) and Tron. Overall, USDC is considered more secure and reliable compared to USDT when it comes to credibility and transparency. The collateral for USDC is consistently disclosed, and the companies behind it, Circle and Coinbase, are highly reputable in the cryptocurrency industry. It's worth noting that USDT has faced several accusations in the past regarding its lack of transparency and stability. USDC vs USDT: Market cap and market dominant Short answer: USDT is the one with a higher market cap. USDT's market cap today is $144,311,426,402 while USDC's market cap is $60,073,218,321. Source: Coingecko, data as of April 14, 2025 While USDT and USDC are the dominant stablecoins, other options like DAI (a decentralized, Ethereum-based stablecoin) and Ethena USDe are also emerging. The choice of stablecoin depends on the blockchain network you prefer and the platforms you wish to interact with. Dominance of all stablecoins (data source: Coingecko) USDC vs USDT: Which stablecoin is safer? In terms of popularity and trading volume, USDT, being established earlier in 2014, is more widely used. However, when it comes to security, USDC stands out as a better choice. Security is paramount in any transaction, particularly in the cryptocurrency industry where protecting user assets from loss is always a top priority. From a security and reliability perspective, USDT has encountered various issues due to the opacity of Tether's reserve structure. As mentioned earlier, USDT is entirely controlled by its parent company, Tether Limited, raising concerns about its transparency and security. In contrast, USDC has a more transparent support system and clarity, making it more appealing to users in some cases. USDC publishes monthly audit reports to confirm the full coverage of its dollar reserves. Additionally, the collateral for USDC is consistently disclosed, and the companies behind it, Circle and Coinbase, are highly reputable in the cryptocurrency industry. It's worth noting that USDT has faced several accusations in the past regarding its lack of transparency and stability. Therefore, USDC is considered more secure than USDT due to its well-coordinated operations and transparent support system. Before using any cryptocurrency, it's crucial to explore and assess all potential risks. When choosing between Tether and USD Coin, do your own research and select the stablecoin that is most suitable and reliable for your needs. USDC vs USDT: Which one to buy and how to buy at the best price on Bitget? For users accustomed to using USDT, having another option like USDC is a prudent choice. Bitget offers a easy method for USDC/USDT conversions. If you are a new user, simply sign up on Bitget, complete the identity verification process, then you can buy and sell USDC and USDT easily on Bitget via credit/debit cards, e-wallets, p2p market, or other local payment options. Here’s how: How to buy USDC and USDT on Bitget: Create an account on Bitget, or log in to your existing one. Go to the Buy Crypto section. Choose your preferred payment method and complete your purchase. Learn more: How To Buy USDT vs USDC Via Credit/Debit Cards How To Buy USDT vs USDC Via P2P Trading How To Buy USDT vs USDC via OTC, Cash Conversion, Third-party Payments USDT vs. USDC: Convert and swap Need to swap USDC to USDT or the other way around? We've got you! Bitget Convert simplifies the conversion process by providing the best exchange rates without the need for multiple trades. All you need to do is select the pair USDT/USDC or USDC/USDT, enter the amount you want to swap, then select Confirm, and the exchanged crypto will be deposited into your spot account. Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading guidance. Qualified professionals should be consulted prior to making financial decisions.

Top 10 Cryptocurrencies by Market Cap: A Comprehensive Look

As the cryptocurrency market continues to evolve, the list of top players also sees frequent reshuffling. Whether you're a seasoned investor looking to diversify your portfolio or a newcomer trying to understand where to start, a look at the leading cryptocurrencies by market capitalization can offer valuable insights. Assembled with data fresh from the trusted vaults of CoinGecko and updated as of August 31, 2023, this comprehensive guide aims to serve as your navigator through the complex maze of digital assets. We’ll explore the features, history, and technology behind the top 10 cryptocurrencies dominating the market today. The rankings mentioned in this article are based on data from CoinGecko as of August 31, 2023, and might change over time. Bitcoin (BTC): The King of Crypto Overview Market Capitalization is US$530,079,527,201 and is ranked #1. Tokenomics: Capped at 21 million coins Advantage: Often viewed as 'digital gold,' it’s seen as a hedge against inflation. All-time high (ATH) and all-time low (ATL): US$69,044 (Nov 2021) and US$67.81 (Jul 2013). Bitcoin (BTC) is the world's first cryptocurrency. It was introduced to the world by an anonymous developer under the pseudonym 'Satoshi Nakamoto.' Bitcoin runs on a decentralized ledger system based on cryptography - a blockchain. Thus, Bitcoin is not controlled by a central bank or authority of any kind. Anyone can be a part of this blockchain and be rewarded with Bitcoin by participating in its "mining" process. In recent years, Bitcoin has outperformed major stock indices like the SP 500 and the Dow Jones Industrial Average. While stock markets have shown steady growth, Bitcoin's price appreciation has been far more significant. During the third month of 2023, Bitcoin outperformed 97% of all SP500 companies. Learn more about Bitcoin (BTC) Bitcoin Halving | Pizza Day | PriceValue | Bitcoin Trading guides | FAQs | Key Concepts | Bitcoin NFT | Block Size War | What are Bitcoin ETFs? How to get Bitcoin Buy/ Sell Bitcoin with Fiat currencies Bitcoin has also become a financial asset that people can invest in or even speculate on. You can buy and sell Bitcoin with your local fiat currencies, including via third-party payment providers, the P2P market, and your credit/ debit cards on Bitget on a 24/7 basis. Bitget currently supports 140+ currencies and 70+ payment methods, including Mastercard, Visa, SEPA, SWIFT, and other local payment methods. Please log in to your Bitget account, from the homepage, click ‘Buy Crypto’, and select payment methods available to your country/region. Trade Bitcoin on Bitget Spot Futures markets Spot Trading Bitcoin Spot Trading: BTCUSDT Bitcoin Spot Margin Trading: BTCUSDT Bitcoin Spot Grid Trading: BTCUSDT Bitcoin Spot Martingale: BTCUSDT Bitcoin Spot Auto-invest: BTCUSDT Futures Trading Bitcoin Coin-Ⓜ Futures: BTCUSD Bitcoin USDT-Ⓜ Futures: BTCUSDT Bitcoin USDC-Ⓜ Futures: BTCPERP Bitcoin Futures Grid Trading: BTCUSDT Ethereum (ETH): The Smart Contract Pioneer Overview Market Capitalization is US$204,844,559,374 and is ranked #2. Tokenomics: No fixed supply cap. Advantage: Supports decentralized applications, smart contracts, and the majority of the DeFi and NFT space. All-time high (ATH) and all-time low (ATL): US$4,878.26 (Nov 2021) and US$0.432979 (Oct 2015) Ethereum is a decentralized Blockchain platform introduced by Vitalik Buterin, a Russian Programmer. Ethereum is not managed by a centralized server or organization. Instead, it is run by thousands of computers distributed around the world. Beyond just a currency, Ethereum introduced the world to the power of smart contracts. It provides a platform for decentralized applications (DApps) and has catalyzed the majority of the DeFi and NFT sectors. Ethereum market share has taken off since the start of 2023, though it doesn't seem to be shown in the level of Google interest. If Bitcoin dominance averages 42.5% year-to-date, Ethereum has no trouble maintaining its second place with 18.1%, which is way ahead of the third-largest cryptocurrency Tether (USDT) at 6.7%. Mind you that Tether is a stablecoin, thus often considered a safe option to onboard crypto by newbies. Learn more about Ethereum (ETH) What is Ethereum | The Merge | Birthday | PriceValue Part 1 Part2 How to get ETH Buy/ Sell ETH with Fiat currencies You can buy and sell ETH with your local fiat currencies, including via third-party service providers, our P2P market, and your credit/ debit cards on Bitget on a 24/7 basis. Trade ETH on Bitget Spot Futures markets Spot Trading ETH Spot Trading: ETHUSDT ETH Spot Margin Trading: ETHUSDT ETH Spot Grid Trading: ETHUSDT ETH Spot Martingale: ETHUSDT ETH Spot Auto-invest: ETHUSDT Futures Trading ETH Coin-Ⓜ Futures: ETHUSD ETH USDT-Ⓜ Futures: ETHUSDT ETH USDC-Ⓜ Futures: ETHPERP ETH Futures Grid Trading: ETHUSDT Tether (USDT): The Stablecoin Titan Overview Market Capitalization is US$82,857,760,603 and is ranked #3. Tokenomics: USDT does not have a maximum total supply because the amount of USDT issued is dependent on the total value of assets in the Tether's reserve. Advantage: Tether offers stability within the volatile cryptocurrency market. All-time high (ATH) and all-time low (ATL): US$1.32 (Jul 2018) and US$0.57 (Mar 2015). Tether (USDT) is the third largest cryptocurrency (after Bitcoin and Ether) and the largest stablecoin by market capitalization. Tether is a USD-pegged stablecoin, meaning that 1 Tether can be exchanged to USD at an approximate 1:1 ratio. The coin was created in 2014 with the original name of "RealCoin", but was rebranded to Tether later that year. On June 15, 2023, the stability of Tether's USDT, a widely used stablecoin pegged to the USD, experienced a slight deviation from its usual value of US$1.00. Even though the price dropped to as low as US$0.996 at that time, the USDT price recovered to US$0.999 later in the day. However, since USDT is the most popular stablecoin, its slight depeg led to widespread FUD and speculation among the crypto community. Learn more about Tether (USDT) What is Tether (USDT)? | The Tether Depeg in Summer 2023: What Happened to USDT? How to get USDT At the "Buy Crypto" main page, you will find many options to buy USDT: - Debit/ Credit cards: we support 140+ fiat currencies and 70+ payment methods, including Mastercard, Visa, SEPA, SWIFT, etc. - P2P Trading: you can purchase USDT with your local payment methods at your preferred prices. - Third-Party Payment: you can also buy USDT with multiple fiats via our third-party providers like Simplex, Banxa, Mercuryo, etc. BNB (BNB): The Exchange Trailblazer Overview Market Capitalization is US$34,306,930,411 and is ranked #4. Tokenomics: Its total supply is 200,000,000. Advantage: BNB serves as the native cryptocurrency of the Binance exchange. It offers fee discounts, and ecosystem access for traders. All-time high (ATH) and all-time low (ATL): US$686.31 (May 2021) and US$0.0398 (Oct 2017) Originating as the native token for Binance – the world's largest crypto exchange – BNB offers trading fee reductions on the Binance platform and has been integral to the growth of the Binance Smart Chain. The BNB token was originally released as an ERC-20 token to raise funds for the Binance exchange in 2017. How to get BNB Trade BNB on Bitget Spot Futures markets Futures market BNBUSDT Spot market BNBUSDT BNBUSDC Ripple (XRP): The Cross-Border Specialist Overview Market Capitalization is US$27,764,349,639 and is ranked #5. Tokenomics: The total supply of XRP is 100 billion. Advantage: XRP aims to facilitate fast and low-cost cross-border transactions. All-time high (ATH) and all-time low (ATL): US$3.40 (Jan 2018) and US$0.0026 (May 2014). Ripple can be both considered as a cryptocurrency and a digital payment transaction network. It was launched in 2012 and was co-founded by Chris Larsen and Jed McCaleb. For both banks and financial institutions, Ripple is a transaction system for international money and security transfers. Ripple is the name of the company and the financial network, and XRP is the platform token. XRP is the exchange mechanism between two currencies or networks. It plays the role of a temporary settlement between two currencies. How to get XRP Buy/ Sell XRP with Fiat currencies Bitget supports a variety of cryptocurrencies that can be purchased through debit/ credit cards and third-party platforms like AlchemyPay, Simplex, and Banxa. Joining the ranks of Tether (USDT), Bitcoin (BTC), and others, Ripple (XRP) is the latest addition to Bitget's diverse offerings. This means you now can buy XRP with 140+ currencies like US Dollar (USD), Euro (EUR), British Pound (GBP), and Australian Dollar (AUD) on Bitget! Related: How to purchase Ripple (XRP) with Fiat Trade XRP on Bitget Spot Futures markets Futures market XRPUSDT Spot market XRP/USDT XRP/USDC USD Coin (USDC): A Stablecoin Contender Overview Market Capitalization is US$26,105,544,669 and is ranked #6. Tokenomics: USDC is a stablecoin, pegged 1:1 to the US dollar, with regular attestations of its reserves. Advantage: Similar to USDT, USDC offers stability and crypto-fiat conversion. All-time high (ATH) and all-time low (ATL): US$1.17 (May 2019) and US$0.877 (Mar 2023) USD Coin (USDC) is a USD stablecoin issued by CENTRE, a consortium created by Coinbase exchange and a fintech company called Circle. Its value is pegged to the US dollar by fiat currencies and commodities at a 1:1 ratio, which means that 1 USDC is equal to 1 USD. USDC was first launched as an ERC-20 token in 2018 and has since expanded to other major platforms. 2021 was a big year for the stablecoin as Visa started to accept payments made with USDC. How to get USDC On Bitget’s homepage, select “Buy Crypto” and quickly proceed to buy and sell USDC with your local fiat currencies, including via third-party payment providers, P2P market, and your credit/ debit cards on a 24/7 basis. Related: How to purchase USDC with Fiat Lido Staked Ether (STETH): Ethereum's Staking Solution Overview Market Capitalization is US$14,532,706,519 and is ranked #7. Tokenomics: STETH does not have a total supply. Advantage: STETH allows holders to participate in staking without the need to manage the technical aspects themselves. All-time high (ATH) and all-time low (ATL): US$4,829.57 (Nov 2021) and US$482.90 (Dec 2020). Lido is a platform that enables users to earn interest on their digital assets by staking them while keeping them liquid for use in other DeFi applications. It was initially launched on Ethereum in 2020, allowing users to stake ETH to receive STETH, a token that represents staked ETH in Lido. STETH is not only where the value of the initial deposit and staking rewards are combined, but also can be used to maximize yield through collateralization, lending, yield farming, and other DeFi protocols. Consider investing in Lido Staked Ether (STETH)? It only takes 2 minutes to create an account on Bitget and start trading STETH today! Dogecoin (DOGE): The Meme that Became a Mainstay Overview Market Capitalization is US$9,291,669,070 and is ranked #8. Tokenomics: no maximum supply limit. Advantage: Active community, low fees, tipping charitable donations usages. All-time high (ATH) and all-time low (ATL): US$0.731 (May 2021) and US$0.0000869 (May 2015). Dogecoin (DOGE) is a public cryptocurrency that was created as a lighthearted joke poking fun at the crypto speculation by software engineers Billy Marcus and Jackson Palmer. Launched in 2013, it is considered the first "meme coin" in the world. Despite the fun-loving origin, Dogecoin, ironically, has a lot more use cases than the majority of crypto. Besides being accepted as a method of payment in places around the world, it is predominantly used as tips for online content creators and as donations for charities. Dogecoin gained notable increases in popularity and value after Elon Musk repeatedly tweeted about the coin on his personal account and had plans to use DOGE to pay for a mission of SpaceX. Learn more about Dogecoin (DOGE) What is Dogecoin (DOGE)? | What is Dogeday? How to get Dogecoin (DOGE) Consider investing in Dogecoin (DOGE)? One of the first steps you can take is to purchase crypto. There are various ways to do so, such as instantly buying crypto with credit/debit cards, via bank transfer, via peer-to-peer transactions, or even in-person purchases. Once you have cryptos, you can start trading DOGE on Bitget! Futures Market DOGEUSDT Spot Market DOGEUSDT DOGEUSDC DOGEBTC Cardano (ADA): The Peer-Reviewed Blockchain Overview Market Capitalization is US$9,212,030,431 and is ranked #9. Tokenomics: Fixed supply of 45 billion ADA. Advantage: Cardano aims to provide a more sustainable and scalable platform for smart contracts and DApps. All-time high (ATH) and all-time low (ATL): US$3.09 (Sep 2021) and US$0.01925 (Mar 2020) Cardano is a third-generation blockchain that utilizes the Proof-of-Stake (PoS) consensus mechanism. It was conceived in 2015 by Charles Hoskinson, co-founder of Ethereum, who departed his former project with the intention to improve upon Ethereum’s shortcomings and create a more complete decentralized network. Two years after a highly successful ICO in 2015, Cardano mainnet was released. As of now, Cardano supports multiple use cases and applications such as smart contracts, DeFi, Internet of Things, NFT, etc. How to get ADA Consider investing in Cardano (ADA)? It only takes 2 minutes to create an account on Bitget and start trading ADA. Futures market ADAUSDT Spot market ADAUSDT ADAUSDC Solana (SOL): The Speedster of the Pack Overview Market Capitalization is US$8,314,995,031 and is ranked #10. Tokenomics: Solana has a circulating supply with no hard cap mentioned in its whitepaper. Advantage: High throughput, fast transactions for DeFi and DApps. All-time high (ATH) and all-time low (ATL): US$259.96 (Nov 2021) and US$0.5008 (May 2020). Solana is a rising blockchain that debuted in 2017 and had its mainnet launched in 2020 with the aim to rival Ethereum. It boasts scalability with open source, fast speed, and low cost. Phantom, the most popular Solana wallet, experienced a six-fold increase in the number of active users from 200,000 in August 2021 to 1.2 million in October 2021. Even more impressive is the rise in TVL: from USD 135.61 million in April 2021 to USD 10.14 billion in October 2021. After only 1 year, Solana climbed to the top 6 biggest blockchains in the world in terms of total value lock (TVL). It could gain such incredible milestones because the unique Proof of History (PoH) mechanism invented by its founder Anatoly Yakovenko allows for efficient throughput without the need for additional scaling solutions. How to get Solana (SOL) Consider investing in Solana (SOL)? It only takes 2 minutes to create an account on Bitget and start trading SOL. Futures market SOLUSDT Spot market SOL/USDT SOL/USDC In conclusion, while these cryptocurrencies have solidified their standing by market cap, the dynamic nature of the digital asset space means positions can change rapidly. Bitget always encourages our users to research thoroughly before investing and to stay updated with the latest market trends. Crypto FAQs What are cryptocurrencies? A cryptocurrency, sometimes crypto for short, is a digital currency based on cryptography. Most cryptocurrencies are decentralized, that is, without any central authority for issuance or transaction verification. Thus, they offer a huge improvement in privacy and save on transaction costs. Crypto Tokens vs. Coins - What's the Difference? Like everything else, cryptocurrencies can be divided into different types and groups by a wide array of standards. The two most prevalent categories are coins and tokens. A crypto coin is the native currency to its own blockchain. For instance, BTC is native to the Bitcoin blockchain, just like ETH is native to the Ethereum blockchain. These coins can be transferred and used like traditional currencies, but the most important function they have is paying gas fees. These coins are generated by miners or validators during their mining or validation process and are not controlled by any central authority. Crypto tokens are similar to coins but are built on top of blockchains and are functionally more versatile. They can be: - Stablecoins, like USDT/USDC, that are pegged to real-world assets; - Utility tokens, like ARB, that provide access or powers to their holders; - or even non-fungible tokens (NFTs), like BAYCs, that spread your prominence over the entire social network. Simply create an account, and start exploring the incredible Bitget-Verse today! Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions. The rankings mentioned in this article are based on data from CoinGecko as of August 31, 2023, and might change over time.

What is USD Coin (USDC)?what is the price of USDC？

About USD Coin USD Coin (USDC) is a type of cryptocurrency known as a stablecoin. Stablecoins are a category of digital assets that maintain a stable value relative to a specific asset or a pool of assets. In the case of USDC, its value is pegged 1:1 with the United States Dollar. This means that each USD Coin token corresponds to one US dollar. USD Coin was launched in September 2018 by CENTRE, a collaboration between cryptocurrency firms Circle and Coinbase. The goal of USD Coin is to bridge the gap between traditional financial systems and digital economies, bringing the benefits of both worlds together. By pegging USDC to the US dollar, the stablecoin ensures the stability of value, a trait that many cryptocurrencies lack due to their volatile nature. In March 2023, following Circle's acknowledgment of a substantial US$3.3 billion cash reserve with Silicon Valley Bank, the value of its USDC stablecoin experienced a momentary depeg, dropping to 88 cents from its typical one-dollar valuation. The USDC depeg fear caused panic selling, and Binance and Coinbase both confirmed they would temporarily suspend USDC conversion in that period. USD Coin price Today (updated at 12:00 on August 26, 2023): The live price of USD Coin is $1 per (USDC / USD) today with a current m arket cap of $25,917,322,378.49 USD. The 24-hour trading volume is $2,913,029,391.64 USD. USDC to USD price is updated in real time. USD Coin is -0.01% in the last 24 hours. It has a circulating supply of 25,916,752,000 .

BGB Sail: July Edition

Our BGB Sail Series provides an in-depth analysis of BGB performance, together with a recap of the 44d610e5-ad36-43f5-ae0e-54279ef6754b situation at the end of each month. BGB Sail: June Edition can be found here. Market Summary The global market cap fell slightly by 1.3%, landing at US$1,223,923,817,837 on July 31, 2023 (0:00 AM UTC). Except for Bitcoin, Ethereum, and BNB, all others in the Top 10 saw increases in their market cap. It’s worth noting that XRP had snatched away BNB’s Top 4 for a brief two weeks following their federal court win. SOL made an incredible comeback to the Top 10 thanks to the ruling of XRP and the boom of liquid staking activities on this chain. The TVL of liquid staking protocols on Solana jumped by 91% in the first six months, per The Block, signalling the growing interest in this niche category across broader markets. Let's take a look at the performance of the Top 10 in July. Please note that stablecoins (Tether and USD Coin) and LSD (liquid staking derivatives - STETH) are excluded because their value is supposed to remain ‘stable'. The win of XRP not only helped it secure the title of ‘best performer in the Top 10’ with a monthly change of +48.5% but also inflated the price of other cryptocurrencies labelled ‘security’ by the SEC, including DOGE (+23%), ADA (+14.4%) and SOL (+34.8%). Keep up with all the latest news every Monday with our Bitget Hot Takes series! The latest report is available here: Bitget Hot Takes (August 07 - August 13) BGB Performance in July BGB has had a weaker performance in July, ending the month with a minor loss of 6.6%. The token has entered a period of consolidation where the spread between the monthly high (US$0.494244) and the monthly low (US$0.484505) is extremely tight, having declined by 60.7% from last month’s. Despite the lower lows in July, the Accum/Dist line didn’t show any signs of going downward. That, combined with the stable volume of BGB, indicates that this current down trend isn’t likely to hold. We have every reason to look forward to a breakout in the bullish direction. When it comes to liquidity, all exchange tokens experienced less buying and selling activities in July. The volume-to-mcap ratio measures how easy it is for a token to change hands and thus can be used as a basic indicator of liquidity. Blockchain data platform Coinranking.com considers a token with a volume-to-mcap ratio of 0.001 or higher as ‘first tier’ tokens. BGB remained the most liquid exchange token with a stable volume-to-mcap ratio of 0.02, while demand for BNB and HT dropped much faster and to a higher degree than the change in their market cap. BGB still claims the 4th place on the list of exchange tokens by market cap, leaving the next exchange token of GT behind by more than US$70,000,000. New to BGB and Bitget? Check out this Bitget Token (BGB) Introduction BGB has been considered a blue-chip exchange token and thus a good long-term investment for several reasons. First of all, owning BGB means you will benefit from the expansion of the ever-growing Bitget ecosystem. Bitget is the first exchange to launch a crypto copy trading product in 2020 - the first of many innovative rollouts throughout the past three years; the better we become, the more profitable it is to invest in BGB. Besides, BGB is the ticket to multiple activities on Bitget, including Bitget Launchpad (hold BGB to get exclusive access to highly anticipated IEOs), Bitget Launchpool (stake BGB to earn new, promising project tokens for free), Bitget Lottery (hold BGB to win prizes in BGB every day), BGB Earn (generate more BGB from your current holdings and/or secure the opportunity to buy BGB at discounted prices), Bitget VIP Program, GroupCoin (hold BGB to get the chance to purchase staple cryptocurrencies at special prices), Vote-To-List (hold BGB to decide whether the project will be listed on the exchange and get rewards for your participation). The IEO on Bitget Launchpad in late June - early July attracted 5,216 participants who altogether locked 30,311,284.39 BGB to get the opportunity to purchase TypeIt (TYPE) and gain the first-mover advantage/take up arbitrage opportunities since Bitget was the first exchange to open TYPE trading. At its all-time high, TYPE value is more than four times the IEO price, which translates to a ROI of over 590%. The most popular farming pool on Bitget Launchpool has 56,290,816 BGB (ca. US$52.5 million - estimated using BGB price data on July 31, 2023 from CoinGecko) staked. We have introduced ROI as the new way of calculating earnings for Bitget Launchpool, which allows for easier planning and decision-making. Starting from July, the two staking methods are Normal (reserved for Beginners) and Refer Earn. Staking ROI for beginners is in general higher than that for other users, but their reward pool is limited in size so that fairness is ensured for every group of stakers. We have completed three rounds of Bitget Launchpool in July, and are currently holding two new rounds for KAT. The carefully selected reward tokens make farming more lucrative, thereby driving the demand for BGB further up. To sum things up, BGB has never failed to impress. See yourself how: BGB Sail: May 23 Edition BGB Sail: June 23 Edition BGB Sail: April 23 Edition BGB Sail: March 23 Edition BGB Sail: February 23 Edition BGB Sail: December 22 Edition BGB Sail: November 22 Edition BGB Sail: October 22 Edition Bitget-Verse We are delighted to share with you the new rebranding initiative that demonstrates our dedication in equipping individuals with innovative products as well as sophisticated tools for an efficient financial future. Both our focus on users and our commitment of providing a safe, smart and productive trading environment remain the same. Accompanied this initiative is our #SetForChange campaign in collaboration with renowned actor and comedian Adam Devine, who shares the same passion for crypto education and adoption with us! We hope to onboard more of the younger generations with modern financial tools and Web3 possibilities via an engaging, lighthearted approach as embodied by Adam. We are about to kickstart the famous Bitget’s KCGI for 2023! The event was first introduced in 2021 with nearly 7,500 trading enthusiasts and has since become a specialty of Bitget that takes place twice a year. What’s new this time? A summary would be (1) upgraded prize pool to up to 2,650,000 USDT and (2) the addition of the Demo Trading League, where individuals will compete in our dedicated demo trading environment to share 20,000 USDT! More on Bitget’s 2023 KCGI can be found here: Bitget KCGI 2023: Unleashing the World's Trading Titans Spot Futures Activities The average daily number of outstanding contracts on Bitget Futures soared by 55.3%, especially towards the month’s end, with the daily average Bitcoin OI rising by 50.6%. Some notable recent changes to Bitget Futures include the leverage adjustment for XRPUSDT contracts (to 125X) and the addition of new pairs: • SEIUSDT • BNTUSDT • LPTUSDT • OGNUSDT • YGGUSDT • CVXUSDT • WLDUSDT • ARKMUSDT • PENDLEUSDT • AGLDUSDT • XECUSDT • XVGUSDT The total volume of Bitget Spot Trading in July decreased to US$3,995,220,200. We have 2 new fiat pairs of USDT/RUB and USDT/UAH and 37 new token listings with the whopping 24-hour gains: • TYPE/USDT: 2,922% • BMTC/USDT: 1,484% • ARKM/USDT (5X): 1,234% • SALD/USDT: 761% • WLD/USDT (5X): 543% Of course we can’t not talk about the flagship Bitget One-Click Copy Trade! In July only there were 2.5 million profitable trades, which results in over 10 million USDT in followers’ profits and 450,000 USDT traders’ profit shares. To make the process of selecting traders even easier for new users as well as followers, we have launched a new tool for you here: Elite traders comparison. This feature allows for a general comparison of several traders at the same time based on their basic information, trading data and insights activities. As a new user, Bitget One-Click Copy Trade warmly welcomes you with multiple long-term events as follows: • Worry-free copy trading: Losses incurred from liquidations in your first 14 days of trading will be covered by Bitget • Join Bitget as an elite trader for rewards: Many ways to earn more using your trading skills • Win a Spot Copy Trading welcome gift: Get 10% raise on ROI or a 100% compensation for your first spot copy trade Earning With Bitget We have been continuously expanding the variety of investment products on Bitget, with Bitget Range Sniper being the latest introduction. The lowest APR on Bitget Range Sniper up until now is guaranteed at 20% despite your speculation of market sentiment, the highest is over 300%, and that's why Bitget Range Sniper has become the new obsession of many investors. Source: Bitget Range Sniper Bitget Range Sniper differentiates itself from other earning schemes on Bitget in the exceptionally high yields. Even if the market moves in the opposite direction to the subscriber’s prediction, the 20% guaranteed APR is high enough to cover the value depreciation of the cryptocurrencies to be paid out, i.e. Bitcoin and Ethereum. It is also perfect because they can hold them and lock in the profit once prices go up. If prices progress in line with their expectation, the exceptionally high profits will be realised immediately by the payout in USDT. Subscribers win, either way. Also allowing investors and technical analysts to ride with the waves is Bitget Smart Trend. Bitget Smart Trend is principal-protected, which means investors have the opportunity to place a bet on BTC/ETH prices of the next seven days without worrying about losses at settlement. You can subscribe to Bitget Smart Trend with Bitcoin, Ethereum, USDT or BGB as well, but the gains are distributed in the form of the asset you use to subscribe. It’s our delight to announce that we have increased the guaranteed floor APR to 4.5%! Don’t forget that BGB subscriptions have been enabled specifically for Bitget Smart Trend! Source: Bitget Smart Trend Bitget Dual Investment takes full advantage of the ‘buy low, sell high' strategy. It's designed to provide long-term investors with a 2-in-1 plan; that is, subscribers can buy a cryptocurrency (with stablecoin) and earn interest in that cryptocurrency if its price at the end of the subscription period is equal to lower than their expectations. If the price of that cryptocurrency is eventually higher than the expected price, purchase is not enabled and interests are calculated in stablecoins. That's the Buy Low scenario. On the other hand, Sell High subscribers will sell their crypto holdings at a favourable price in the future and earn interests in stablecoins. Should markets move against them at the end of the subscription period, no selling is allowed and interests are calculated in the cryptocurrency to be subscribed. In short, users will receive their original holdings plus interests even in disadvantageous conditions. Imagine planning your long-term crypto investments. You can either let your stables sit there until your limit order is filled or jump to Bitget Dual Investment to make some extra money on the idle funds. And the latest upgrade of Bitget Dual Investment is even higher APR (over 200%), daily subscriptions and VIP exclusives - always buy low, always sell high! Now back to Bitget Shark Fin, the original capital-guaranteed structured investment product. There are four rounds of SharkFin in July, each with full options of earning BTC from BTC deposit, earning BTC from USDT deposit, earning ETH from ETH deposit and earning ETH from USDT deposit. 100% of the cases ended up in the Shark Scenario, which is the scenario with much higher APR, hence subscribers turned out to be winners all the time. Do you know that we also upgraded Bitget Shark Fin’s guaranteed APR to 7%, which is one of the highest APRs for investment products in the industry! Source: Bitget SharkFin The charm of Bitget Earn is irresistible. In May only, the total fund subscribed to these four products amounted to US$10.5 million. Bitget SharkFin is the most popular one not only in terms of the total amount subscribed but also pertaining to the number of subscribers. The second best option for long-term investors is Bitget Dual Investment, whilst it's Bitget Smart Trend for farmers. Full guide to these products can be found here: Bitget Range Sniper | Bitget Shark Fin | Bitget Dual Investment | Bitget Smart Trend Back to the basics? Check out the wonderfully portable Bitget Savings - keep your assets safe and redeem anywhere: Earn up to 300% APR with SEI (SEI) Savings Earn up to 160% APR with Bad Idea AI (BAD) Savings Earn up to 300% APR with CyberConnect (CYBER) Savings Earn up to 120% APR with Fasttoken (FTN) Savings Join us now on these bountiful events: Call-Out to Creators: Get up to 2000 BGB and shout out to KCGI 2023! Learn to Earn Quiz: Unleash Your Crypto Knowledge at the KCGI 2023 Quiz Event and Share 50,000 BGB! Zero Fees Offer: Buy crypto via Mercuryo now! Make bot trades and grab a share of 40,000 USDT (exclusive for BTC and ETH trading pairs)! Fasttoken (FTN) will be listed on Bitget. Come and grab a share of 3900 FTN ! KaratDAO (KAT) to be listed on Bitget — grab a share of 800,000 KAT from Launchpool! Enjoy copy trading with loss protection! Get welcome gifts and receive 100% loss protection or a profit bonus! Limited-Time! Complete KYC Claim up to 20 USDT! Spot margin trading bonus week! Get daily trading bonuses, and grab a share of 50,000 USDT! Simply create an account, and start exploring the incredible Bitget-Verse today!

The Tether Depeg in Summer 2023: What Happened to USDT?

This article provides the cause of the USDT depeg on June 15, 2023, and discusses the aftermath of the event. On June 15, the stability of Tether's USDT, a widely used stablecoin pegged to the USD, experienced a slight deviation from its usual value of US$1.00. Even though the price dropped to as low as US$0.996 at that time, USDT price recovered to US$0.999 later in the day. However, since USDT is the most popular stablecoin, its slight depeg led to widespread FUD and speculation among the crypto community. So, what exactly happened and did the USDT depeg have any implications for the crypto community as a whole? What Caused the USDT Depeg The cause of the fall of USDT price on June 15 was identified as an imbalance within Curve's 3pool, a decentralized stablecoin pool that holds significant liquidity in three major stablecoins: USDT, USD Coin (USDC), and Dai (DAI). The Curve 3pool is the third largest DEX pool, boasting the distinction of being the largest pool for both USDT and DAI. This notable position highlights its significance in facilitating liquidity and trading opportunities for these popular stablecoins within the DeFi ecosystem. Yet, with great power comes great responsibility. Any irregularity or anomaly within this pool can have far-reaching implications, as demonstrated by the events that unfolded on June 15. The ideal scenario is when each stablecoin holds an equal weightage of 33.33% in the pool. However, on that day, the weightage of USDT in Curve's 3pool increased unexpectedly to over 70%, surpassing its typical weightage of 33.1%. Such a rise in a stablecoin's weightage suggests heavy selling of that particular asset within the pool. Traders, therefore, began selling USDT in favor of DAI or USDC, causing the concentration of USDT in the pool to skew even further. This imbalance was primarily attributed to a well-known whale address named CZSamSun, which borrowed 31.5 million USDT. The borrower then utilized 17,000 ETH and 14,000 stETH as collateral to convert the borrowed USDT into USDC via the 1inch Network. Subsequently, the borrower made deposits totaling $10 million and $21 million to Aave v2 and v3, respectively. They also obtained a USDT loan of 12 million from v3 and deposited it into v2. Around 20 minutes later, another address (0xd2...0701) mortgaged 52,200 stETH via Aave v2 to borrow 50 million USDC, taking advantage of the price difference between USDT and USDC. The slight deviation in USDTs price led to a new yearly high of $1.0034 for the USDC/USDT trading pair on Binance. USDT depeg led to an ironic new high for USDC/USDT trading pair on Binance (Source: Binance) At the height of the event, USDT accounted for 73.79% of Curve's 3pool, while DAI and USDC accounted for 13.05% and 13.16%, respectively. Due to whale’s activities, the weightage of USDT in Curve's 3pool surpassed 70%. (Source: Curve Finance) The Aftermath of USDT Depeg Though USDT price quickly recovered to US$0.999 later in the same day, the crypto community, especially those on Twitter, were highly concerned about the potential repercussions as the latest depeg of stablecoin, which happened just three months prior with USDC, had a profound impact on many portfolios and caused a wave of panic among traders. The concerns were especially valid since USDT has witnessed an impressive increase of approximately $14 billion in market capitalization following the incident of USDC. While definitive conclusions are yet to be drawn, doubts regarding USDT remain. Tether has consistently claimed that USDT is fully backed by equivalent reserve assets, including cash and bonds. However, it has never undergone a comprehensive audit, providing only attestations regarding its ability to fulfill its obligations. Hopefully, Tether will be more transparent in the future. The instability of Tether could emerge at an inopportune moment for the broader crypto industry, which has been subjected to intensified regulatory actions from entities like the SEC. Both the CFTC and the SEC have displayed a particular interest in stablecoins. Considering USDC's depeg incident in March, any issues with Tether could potentially trigger a systemic meltdown, amplifying the concerns of regulators and legislators regarding the overall stability of the crypto industry. Despite its relatively small scale, the incident involving USDT sent shockwaves across the entire market, highlighting the interconnected nature of the cryptocurrency ecosystem. However, the potential depeg of the USDT stablecoin in the future can pose a more significant risk to the overall cryptocurrency economy, especially considering its recent market share gains over USDC. Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

BGB Sail: May Edition

Our BGB Sail Series provides an in-depth analysis of BGB performance, together with a recap of the 6c5a04f7-dfe1-4e05-b030-f061d590df34 situation at the end of each month. BGB Sail: April Edition can be found here. Market Summary May appears to be the extension of April's cooling-off period as the global market cap contracted by 2.6%, landing at US$1,179,097,406,821 on May 31, 2023 (0:00 AM UTC). The only three tokens with growing market cap are USDT (stablecoin), XRP (L1 token/altcoin) and STETH (liquid staking derivatives). This is also the first time that STETH is among the Top 10 biggest cryptocurrencies by market cap. The Month-over-Month change in ETH’s market cap is negative but almost negligible, whereas DOGE lost more than one-third of its value over the course of 30 days and as a result fell by two places in the ranking. Meanwhile, the difference between Top 4’s market cap and the rest is so large that it's most likely that Top 4 will continue to stay put for a long time. Let's take a look at the performance of the Top 10 in May. Please note that stablecoins (Tether and USD Coin) and LSD (liquid staking derivatives - STETH) are excluded because their value is supposed to remain ‘stable'. Except for XRP with an impressive 9.3% increase, all tokens in the Top 10 - BTC, ETH, BNB, XRP, ADA, DOGE and SOL - suffered from some small to heavy losses in May. Some possible explanations for the downward momentum include the regulatory uncertainties surrounding native U.S. crypto firms and crypto firms with an U.S. arm and the spreading panic over the U.S. debt limit. Read more about the debt ceiling deal and its implications on markets here: Debt Ceiling Is Lifted. Now What? Basically, we are seeing more securities regulators targeting crypto exchanges, indicating these areas' view of crypto as securities. Here is a summary of May's key headlines:• Bittrex U.S. filed for Chapter 11 bankruptcy; • Top market makers Jane Street and Jump Crypto decided to withdraw from the U.S. crypto exchange market; • Hotbit announced its shutdown; • The Securities Commission Malaysia ordered Huobi Global to stop its operations in the country for ‘illegally operating a digital asset exchange’ here; • The Philippines’ Securities and Exchange Commission charges Gemini for ‘offering and promoting unregistered securities products’; • Hong Kong's Securities and Futures Commission has published the finalised requirements for crypto trading platforms to provide retail crypto trading from June 01, 2023 and opened the registration for crypto exchange licensing; • Beijing released the Web3 Innovation and Development White Paper and committed to spending 100 million yuan each year until 2025 to turn Beijing into the global innovation hub for the digital economy; • Zhengzhou establishes a US$8.5 billion Metaverse fund; • The most recent PayPal report with the U.S. SEC shows that the payment giant's crypto holdings as of March 31, 2023 stand at US$943 million in Bitcoin, Ethereum, Bitcoin Cash and Litecoin, up by 56% from Q4 2022’s US$604 million. They also offer crypto transfers to 60 million users of Venmo. Data from The Block shows that there was a decline in the monthly volume of both spot and futures markets. While spot volume has fallen to the lowest level since November 2020, the volume of BTC futures on derivatives exchanges is still a tad higher than January's figure. Source: lars0x Source: lars0x BGB Performance in May In contrast to the majority of the market, BGB has had a great month. It outperformed all Top 10 tokens and belonged to the group of two only exchange tokens ending the month with a profit. BGB locked in a 14% rise MoM with its monthly high having increased by 6.7% to US$0.506853. According to CoinGecko, this surge in value of the token was accompanied by a 51.2% increase in 30D volume to US$482,744,291. When it comes to liquidity, BGB is undeniably the best exchange token. The volume-to-mcap ratio measures how easy it is for a token to change hands and thus can be used as a basic indicator of liquidity. Blockchain data platform Coinranking.com considers a token with a volume-to-mcap ratio of 0.001 or higher as ‘first tier’ tokens. Out of the eight exchange tokens, GT has the lowest average volume-to-mcap ratio for May at 0.001, barely made it to the first tier list; HT has the highest and BGB has the second-highest figure of 0.027 and 0.024, respectively. However, it doesn't necessarily mean that HT is a better investment than BGB. Going back to the MoM performance chart, the top gainer of the month is MX (+27.5%) and BGB (+14%). HT lost nearly 10% of its value in just 31 days. An analysis based on both values - price performance and liquidity - would suggest that BGB is the best option due to its steady price increment (high liquidity means prices are more stable). It's obvious, then, to see BGB moves up in the exchange token ranking, leaving HT and MX way behind. New to BGB and Bitget? Check this out: Bitget Token (BGB) Introduction. What are the reasons behind this success, you might wanna ask? First of all, owning BGB means you will benefit from the expansion of the ever-growing Bitget ecosystem. Bitget is the first exchange to launch a crypto copy trading product in 2020 - the first of many innovative rollouts throughout the past three years; the better we become, the more profitable it is to invest in BGB. Besides, BGB is the ticket to multiple activities on Bitget, including Bitget Launchpad (hold BGB to get exclusive access to highly anticipated IEOs), Bitget Launchpool (stake BGB to earn new, promising project tokens for free), Bitget Lottery (hold BGB to win prizes in BGB every day), BGB Earn (generate more BGB from your current holdings and/or secure the opportunity to buy BGB at discounted prices), Bitget VIP Program, GroupCoin (hold BGB to get the chance to purchase staple cryptocurrencies at special prices), Vote-To-List (hold BGB to decide whether the project will be listed on the exchange and get rewards for your participation). The IEO on Bitget Launchpad in May attracted 19,263 participants who altogether locked 123,037,455 BGB to get the opportunity to purchase Bitcoin Improvement Proposals 1 (BIP1) and gain the first-mover advantage/take up arbitrage opportunities since Bitget was the first exchange to open BIP1 trading. At its all-time high, BIP1 value is more than four times the IEO price, which translates to a ROI of over 300%. The most popular farming pool on Bitget Launchpool has 30,485,728 BGB (ca. US$12 million) staked. With all pools having an APY of 69% or higher, demand for BGB for sure has skyrocketed - no one wants to miss out on these opportunities! Since the beginning of June, we have completed three rounds of Bitget Launchpool, each having two pools (normal staking and refer-and-earn), and are currently holding two new rounds for 3TH and BHAT. The carefully selected reward tokens make farming more lucrative, thereby driving the demand for BGB further up. To sum things up, BGB has never failed to impress. See yourself how: BGB Sail: April 23 Edition BGB Sail: March 23 Edition BGB Sail: February 23 Edition BGB Sail: December 22 Edition BGB Sail: November 22 Edition BGB Sail: October 22 Edition Bitget-Verse The flourishing of Bitget is undeniably integral to BGB's victory. Public recognition and customer satisfaction motivate us to relentlessly work on product improvements and developments to bring about the best crypto experience to users worldwide. Spot Futures Activities Albeit the broader CEX sector struggled with declining volume in May, Bitget users have been showing uninterrupted resilience. The average daily number of outstanding contracts increased by 3.8%, with the daily average Bitcoin OI rising by 5.2%. Some notable changes to Bitget Futures in the single month of May include the leverage adjustment for XRPUSDT contracts (to 125X) and the addition of 21 new pairs: • BSVUSDT • KEYUSDT • IDEXUSDT • ORDIUSDT • PHBUSDT • TONUSDT • GTCUSDT • DENTUSDT • ZENUSDT • 10000LADYSUSDT • STMXUSDT • CTKUSDT • IOTXUSDT • UMAUSDT • AIDOGEUSDT • PEPEUSDT • SPELLUSDT • CELRUSDT • FLOKIUSDT • EDUUSDT • SUIUSDT The total volume of Bitget Spot Trading in May went up by 22.9% to US$5,370,388,809, mainly thanks to the initial listing of the most sought-after tokens: • DEG/USDT • SUI/USDT (5X) • OGGY/USDT • WSB/USDT • CLIPS/USDT • RIBBIT/USDT • BIP1/USDT • PROPC/USDT Earning With Bitget We have been continuously expanding the variety of investment products on Bitget, with Bitget Range Sniper being the latest introduction. The lowest APR on Bitget Range Sniper up until now is guaranteed at 20% despite your speculation of market sentiment, the highest is up to 500%, and that's why Bitget Range Sniper has become the new obsession of many investors. Bitget Range Sniper differentiates itself from other earning schemes on Bitget in that the asset to be paid out is flexible. In case the market moves in the opposite direction to your prediction, you'll get the payout in Bitcoin or Ethereum, which is perfect because you can hold them and lock in the profit once prices go up. If prices progress in line with your expectation, your profits will be realised immediately by the payout in USDT. You win, either way. Also allowing investors and technical analysts to ride with the waves is Bitget Smart Trend. Bitget Smart Trend is principal-protected, which means investors have the opportunity to place a bet on BTC/ETH prices of the next seven days without worrying about losses at settlement. You can subscribe to Bitget Smart Trend with Bitcoin or Ethereum or USDT, but the gains are distributed in the form of the asset you use to subscribe. High APR is also to be seen with Bitget Smart Trend; the most recent Bearish ETH investments offer up to 70% and 90% APR. Source: Bitget Smart Trend Bitget Dual Investment takes full advantage of the ‘buy low, sell high' strategy. It's designed to provide long-term investors with a 2-in-1 plan; that is, subscribers can buy a cryptocurrency (with stablecoin) and earn interest in that cryptocurrency if its price at the end of the subscription period is equal to lower than their expectations. If the price of that cryptocurrency is eventually higher than the expected price, purchase is not enabled and interests are calculated in stablecoins. That's the Buy Low scenario. On the other hand, Sell High subscribers will sell their crypto holdings at a favourable price in the future and earn interests in stablecoins. Should markets move against them at the end of the subscription period, no selling is allowed and interests are calculated in the cryptocurrency to be subscribed. In short, users will receive their original holdings plus interests even in disadvantageous conditions. Imagine planning your long-term crypto investments. You can either let your stables sit there until your limit order is filled or jump to Bitget Dual Investment to make some extra money on the idle funds. Now back to Bitget SharkFin, the original capital-guaranteed structured investment product. There are twelve rounds of SharkFin in May, each with full options of earning BTC from BTC deposit, earning BTC from USDT deposit, earning ETH from ETH deposit and earning ETH from USDT deposit. 100% of the cases ended up in the Shark Scenario, which is the scenario with much higher APR, hence subscribers turned out to be winners all the time. Source: Bitget SharkFin The charm of Bitget Earn is irresistible. In May only, the total fund subscribed to these four products amounted to US$10.5 million. Bitget SharkFin is the most popular one not only in terms of the total amount subscribed but also pertaining to the number of subscribers. The second best option for long-term investors is Bitget Dual Investment, whilst it's Bitget Smart Trend for farmers. Full guide to these products can be found here: Bitget Range Sniper | Bitget Shark Fin | Bitget Dual Investment | Bitget Smart Trend Learn Earn With Bitget Academy We believe in the power of crypto education. In 2023, so far we have released over 400 educational articles in 20 different languages on Bitget Academy, covering everything from in-depth guides and practical tips to market updates. To help users better gain a deeper understanding of the concepts, we regularly hold Learn Earn events on our social media channels. This is where you can test your knowledge and win amazing rewards! The ongoing rounds of Learn Earn can be found here: Bitget Academy Official Twitter | Bitget Academy Official Instagram Show us how much you have learned about crypto! Join us now on these bountiful events: Futures competition: win a Rolex and grab a share of 100,000 USDT! Early bird rewards and new user rewards are up for grabs! Lucky Wheels, Sunny Deals: Spin for a $10,000 Summer Island Trip Fund Split up to 30,000 USDT! 55 USDT trading bonus for new traders! Good things come in twos! Share 100,000 USDT! Deposit or buy crypto in the mid-year jamboree! Enjoy perks in copy trading trial week! New users only — enjoy loss protection from a 30,000 USDT safety pool for bot trading! Become a Bitget strategist to share 20,000 USDT Unlock VIP Privileges, Limited Edition Merchandise, and up to 15% Cashback on Deposits! Assist2Earn is on! Invite friends to Earn and get a 20% rebate! Bitget Will List BHNetwork (BHAT) in the Innovation Zone Bitget Will List Scallop (SCLP) in the Innovation Zone Ethos (3TH) Savings is UP, Subscribe Earn up to 100% APR! Sphere (SXS) to be listed on Bitget — grab a share of 800,000 SXS GPT Guru (GPTG) to be listed on Bitget — grab a share of 2,000,000 GPTG TENET (TENET) to be listed on Bitget — grab a share of 145,000 TENET Abyss World (AWT) Savings is UP, Subscribe Earn up to 200% APR! Simply create an account, and start exploring the incredible Bitget-Verse today!

The price of Bitcoin is too high…Is Altcoins an alternative to diversifying your portfolio?

Welcome to Bitget - the world’s fastest growing crypto derivatives trading platform. Here is a crucial problem stopping people from investing in Bitcoin: the price and volatility is too high. Do we find a stable and price-friendly crypto with a lower entry barrier to invest in? The crypto currencies other than Bitcoin can all be defined as Altcoins. Apart from ETH and some of the potential projects, as of November 2021, there are over 14,000 cryptocurrencies on the market. And there is an increasing tendency. Unluckily, many of the Altcoins have no real investment value. If you don’t want to invest your hard-earned money in those bubbles, read this article to learn how to identify the real value of an Altcoin. What are Altcoins? The cryptocurrencies other than Bitcoin can all be roughly defined as an Altcoin. They have the common features of Bitcoin, like the running mechanism, peer-to-peer transaction network and distributed nodes of ledgers. Some of them have introduced extra functions that are not covered by the Bitcoin Network, like the smart contract functions introduced by Ethereum. This makes it become outstanding from thousands of crypto projects. Looking to get started with cryptocurrency? You can also directly purchase ETH and other popular crypto with credit card, Apple Pay and Google Pay on Bitget now! 5 Types of Altcoins and Their Investment Value Here are the 5 most common types of Altcoins and their potential investment value: 1. Platform Coins: Some Blockchains allow users to create tokens or coins. Ethereum is the most popular platform to carry out tokens and coins issuing. For example, the platform token of Bitget, BGB has multiple use cases within the Bitget ecosystem, including getting discounts on trading fees, as proof of rights and interests for users of different levels, and as a social token for the interaction between fans and copy traders. Example: ETH, SOL, DOT, BGB 2. Meme Coins: The meme coins actually have no real value as Bitcoin or Ether. They become popular in a short period of time because of a joke or a trend. Even Dogecoin is a satire of crypto, its price is often affected by the speech from the serial entrepreneur Elon Musk, rather than its investment potential. Example: Dogecoin, SQUID 3. Stable Coins: High volatility is one of the key reasons stopping people from investing in crypto. The value of stablecoins is pegged to a basket of goods or fiat currencies in order to reduce the volatility. They enjoy a relatively lower risk. Investors may receive passive income from holding stablecoins. Stablecoins are able to withstand the price volatility of cryptocurrencies. Example: Tether's USDT, MakerDAO's DAI, and the USD Coin (USDC) 4. De-Fi Coins: There are different usages of the De-Fi coins, including governance, staking and profit-sharing. If you have invested in a De-Fi coin, you have the voting right to influence the future of the De-Fi project. Example: UNI is the token of Uniswap, a DEX based on Ethereum. The UNI holders have the right to create and vote on a proposal to change the platform. 5. Utility Tokens: Utility tokens are used to purchase the services provided by a Blockchain network. The value of the tokens depends on the value of the services, network fees and rewards offerings. Example: Filecoin, a crypto to purchase storage space. The future of Altcoins More than ten thousand Altcoins are available in the markets right now. Everyone claims that they will change the future, like the IPhone and skyrocket like Bitcoin. The actual fact is many crypto projects may not survive. Only a few of them will be as popular as Bitcoin or Ether, which will depend on utility and applications in the future. There are no regulations on Altcoins. A guy without computer knowledge is able to release an Altcoin with the help of the Ethereum Blockchain. As the cryptocurrency markets become more mature than before. More and more professionals and capital are entering the market. In the future, it will become less risky to invest in and there will be more regulations to protect the rights of investors. The Ultimate guide to trade Altcoins on Bitget Here is a simple way that you can easily access it. Investing in crypto on Bitget is much faster than opening a trading account in a bank…even if you have no crypto investing experience before! For more information: Trading101: Top 10 Terms Every Crypto Trader Should Know 1. Buy Altcoins with Credit Card, Apple Pay Google Pay on Bitget You can directly purchase both Bitcoin and Altcoins with credit card, Apple Pay and Google Pay on Bitget. It is a simple and direct way for new crypto investors to buy Bitcoin using Visa, MasterCard or your smartphone. Don’t you have an account on Bitget yet? Register a Bitget account now. 2. Trade Altcoins Bitget supports the deposit of more than 200 Altcoins, including the popular crypto like Ether. You can first deposit in your Bitget account. Then, you can exchange for Bitcoin at the rate you desire on the market. Directly purchase Bitcoin, ETH and other crypto with credit card, Apple Pay and Google Pay on Bitget now! If you want to know more about blockchain and crypto-trading information, don’t forget to follow us on Bitget Academy. We have constantly provided useful information for crypto investors, so that they can enjoy better trading and a better life. Looking for the latest crypto projects like the opportunity in Game-Fi? On Bitget Launchpad, we have already launched several potential Game-Fi tokens projects in 2022. It is a new platform for launching new crypto projects and airdrops. By leveraging the power of Bitget, you may discover more quality projects every month. Disclaimer: All products and projects listed on this article are not endorsements, and are provided for informational purposes only. Subscribe to our social media today! Twitter | Telegram | LinkedIn | Youtube | Facebook | Instagram