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Tether’s commercial paper has shrunk to less than $50 million

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Tether has recently undergone a number of significant changes, including efforts to become more transparent, an increase in the number of assets held in US Treasuries, and a change in the exposure of its commercial paper. According to CTO Paolo Ardoino, the world’s largest stablecoin has seen its commercial fiat holdings drop, now below $50 million, according to data from September 30.

Ardoino also reported yesterday that the amount of US Treasury bills owned by the project grew to 58.1%, up 25.1% from the 43.5% that the project held just three months ago, on June 30.

Tether takes another step towards greater stability

Commercial paper is essentially a short-term debt instrument issued by companies. They are commonly used to finance various business moves and operations. On the other hand, treasury bills are usually more stable since they do not have the risk of default. What this means is that investors have at least a guarantee of a refund of the purchase price.

Tether noted earlier this year that she was relying too much on USDT’s commercial paper backing, and set a goal to reduce the amount it held as low as possible, ideally to zero. In order to replace the paper, it turned to US Treasuries, which will be beneficial to its entire ecosystem, as it will increase its stability, as well as the stability of the USDT stablecoin.

So far, the project has been on a steady pace, as evidenced by the Arduino announcement. The company relies less on commercial paper, while US Treasuries are growing.

Tether increases transparency

Aside from fixing the status of CP/t-bills, Tether also wanted to work on its transparency — specifically when it came to its dollar reserves and backing. The company has been criticized for years for not allowing audits, with many questioning whether it could actually back every USDT with $1, the price per stablecoin.

Now, that is finally changing, as Tether has made extra efforts to increase transparency. Previously, it appointed an accounting firm called BDO Italia as its official auditor, allowing it to review stablecoin reserves and assuring that the company could, in fact, provide support for every token in circulation. Then, last month, Tether also received an order from the US District Court in New York to produce documents proving that USDT is backed by the US dollar.

For now, the community and authorities are still waiting for the transparency report to be updated, and Arduino noted that the deadline is usually 45 days. However, the new auditor is expected to do things faster by improving the process.

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Ethereum Price Prediction – How High Is Ethereum Today?

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Ethereum has made a healthy recovery in the past week. As a result, the price of the second largest cryptocurrency is showing signs of a recovery. Ethereum recorded an increase of 1.67% today, and its market capitalization settled at $157,215,822,422.

This analysis will show you how far the price of Ethereum can go today.

Ethereum price analysis

resistance and support

ETH/USD daily chart showing resistance and support levels l Source: Tradingview.com

Ethereum is trading at $1,284, adding $16.60 to the price movement in 24 hours. The coin bounced off the support at $1,240.41 to continue its bullish run.

According to a leading analytics company EmotionA major gauge flashing a bullish signal for ETH.

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The nearest resistance you are likely to face is at the $1,370 level. With the current market momentum, this price level is likely to be exceeded. The current bullish trend is likely to continue its upward trend for the rest of 2022. Another factor that may push the price of Ethereum higher further is the Federal Reserve Chairman’s hint of less aggressive interest rate hikes.

Ethereum price forecast with technical indicators

Ethereum Price Prediction - How High Is Ethereum Today?
ETH/USD daily chart with indicators l Source: TradingView.com

Ethereum is trading around the 50 day simple moving average. If the asset can overcome key resistance levels, it will continue to rise. It is likely to trade above the 200 day simple moving average in the coming days.

MACD line crossing above signal line indicates bullish dominance in the market. The bulls are pushing Ethereum price revival towards the end of the year.

The RSI at 52.39 is slightly in overbought territory. This indicator shows neutral sentiment at the moment.

The formation of two green candles in quick succession on this chart indicates a possible bullish trend, and it is likely that Ethereum will maintain its rally.

The bulls are pushing Ethereum to touch the $1,300 mark today. Possible reversals will be minimal as the $1,259 support will keep the price from a free fall. However, ETH should maintain the bullish momentum to break above the $1,320 level.

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Ethereum-backed tokens are worth buying today

With the sharp rise in the price of Ethereum, investors are looking for the best ERC-20 tokens to buy. Some of the best projects available today are Dash 2 Trade, IMPT, and RobotEra.

  1. Dash 2 Trading It is an innovative and state-of-the-art crypto trading intelligence platform that provides users with analytics and social trading support. The pre-sale has raised over $6.94 million and counting. Currently, the pre-sale is in the third phase. When the nine pre-sale phases are completed, D2T will be listed on the Lbank and BitMart exchanges. Investors buy and hold this token as events unfold. The D2T tokens will give users access to the Dash 2 Trade platform and all its benefits.
  2. IMPT It’s also a smart buy. IMPT is a marketplace created for carbon credits running on the Ethereum blockchain. Users can earn and trade NFT carbon offsets on the platform after shopping with green brands. The goal is to support a greener earth by reducing carbon emissions. The pre-sale of IMPT is over $13.18 million.
  3. RobotEra is running a Sandbox-like metaverse on the Ethereum blockchain. Its alpha version is scheduled for release in the first quarter of 2023. Players in the metaverse will create and play as bots. In addition, they will be able to create a virtual world that includes; NFT land, constructions and much more. In the pre-sale stage – TARO – its native token was achieved above $198,000.

conclusion

Ethereum has also felt the pull of the prevailing bear market. However, the cryptocurrency asset is currently on an upward trend.

This price improvement can be attributed to the increased adoption of investors and utilities in sectors such as NFT and gaming. ETH will likely end 2022 on a high as it looks to consolidate further at higher price levels.

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Socios chief goal? To knock cryptocurrency out of the park – Cointelegraph Magazine

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What is the dream of a sports fan? To be the announcer at a match at AC Milan, in front of 75,000 raucous Rossoneri fans?

To play a football match on the sacred turf of your beloved FC Barcelona?

To take a tour of the F1 team’s garage before the race, then watch the Monza Grand Prix from the VIP box?

These are some of the biggest bonuses offered as incentives for joining Chiliz, or the CHZ-based fan token schemes on Socios.com. There are also lesser, but still desirable prizes, such as meeting your sports stars, choosing the music to play when your team scores a goal, or being voted on to design next year’s team bar.

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Socios.com has now partnered with over 170 sports clubs in 25 countries and 10 sports, including American football, soccer, basketball, cricket, esports, ice hockey, mixed martial arts, motorsports, tennis and rugby. Eighty of these organizations have already launched their official fan tokens on the Socios.com app, and have high-profile deals with giants, such as Manchester City, Barcelona and the Aston Martin F1 team.

Alex Dreyfuss talks to a magazine from his desk. Source: Julian Jackson

The team leader behind this is Socios CEO Alex Dreyfus. “I’m French, I’m 45 now. I’ve been an internet entrepreneur for 25 years. I left school before [I was] 18 years old. I created my first company in 1995 at the beginning of the internet. I am from the web 1.0 generation. So, for the past 25 years, my journey has always been to try to use technology to create something that doesn’t exist and try to embrace it before others.”

He began by developing a French city guide that covered first Paris, then 36 other French cities. As a serial entrepreneur, he moved into an online gaming venture, with sports betting and online poker. While there is less regulation in France, unlike the UK, there are no betting shops everywhere. He moved to Malta 17 years ago, and 10 years ago he cashed in his bookmaking ventures to raise capital for his next project.

Interestingly, he started out as a Bitcoin skeptic. Coming from the highly regulated world of online gambling, he had a hard time wrapping his thoughts around a decentralized system without a supervisory body.

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Bitcoin 2022 – Will the Real Extremists Stand Up?

Bitcoin skeptic…at first

On their honeymoon in Iceland, Dreyfuss came across a shop that took bitcoins, which sparked something in his mind. When he got home, he found that the gaming space was full of cryptocurrency enthusiasts making money. “I saw my Twitter feeds – all my friends are trading cryptocurrency and talking about it.”

“And so, in 2017, I spent a lot of time educating myself.” Andreas Antonopoulos and some other crypto influencers followed.

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“As an entrepreneur, I am always trying to find new opportunities – not as an investment, but to develop. At the end of 2017, I started looking at cryptocurrencies from a mathematical angle.

An idea was creeping into his mind. Sport is global – an international language. This means that many, if not most, supporters do not live in the country of origin. According to one Exploratory studyThere are 253 million Manchester United football fans in China or nearly four times the total population of the UK!

Alex Dreyfuss
Alex Dreyfus dreamed up fan icons as a way to interact with the team’s global fan base.

Sports like F1 certainly travel the world with races in different countries, but to attend sports like American football, soccer, or the National Basketball Association, you usually need to be in the host country.

However, these fans around the world are also loyal to their teams, which is a huge base for the business.

Dreyfuss notes that the sport was ripe for confusion.

“The industry hasn’t crashed in the last 30 or 40 years, unlike most other industries in the world. Travel booking, dating, of course, taxis, banking — they’ve all crashed in one way or another. Sports are still the same as they were years ago. Management of these labels Global business can completely avoid risks.”

Fan Tokens are a way to create a new revenue stream for the many fans who live abroad.

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On January 6, 2018, I decided to come back to the office after Christmas and say, ‘Let’s do this. We’re launching our business in this area. And at that time, we were 10, maybe 12 employees. It was a leap of faith.’

“Fast-forward to today, we have 300 employees across nine offices worldwide. We are the largest company in the blockchain/sports sector, but we are also one of the largest mainstream blockchain products that are neither an exchange nor a wallet. We created the concept of Fan Tokens.”

Chiliz (CHZ) is basically the entry point, allowing fans to go to socios.com and buy tokens for their favorite National Basketball League, Formula 1, Rugby or any other sports team. It’s just like trading on any regular cryptocurrency exchange, except the token’s main tool is — in theory, at least — to allow fans to get more deeply involved with their favorite club. Utility tokens are primarily a social investment, not a financial one.

Meet and greet
Fans meet international football stars Rafa Marquez and Javier Zanetti. Source: Socios

Elevate the fan experience

Tokens enable fans to vote or participate in decisions about their team – for example, to choose what music to play when a goal is scored, what scarf designs or number a player will wear.

There is a certain similarity with DAOs: each person holding a token has input into the governance of decisions that matter to them. Dreyfuss describes this as part of governance, not ownership — a kind of mathematical influences. It makes the fan more a participant than a passive spectator. Their premier prize for football/soccer fans is Living the Dream, where fan token holders get to play football in their team’s colors on the home stadium with a star player, photographer and commentator – the complete works.

“If I had to define this experience in one word, it would be: amazing.” A symbolic holder for the Barcelona football fan to play on her team’s grounds with fellow fans and the best player in La Liga, Samuel Eto’o.

Just as Chili’s and Socios were starting to take off, COVID-19 hit, and clubs had to think about what their companies would do when stadiums were empty. So, the fan icons made more sense at that point.

Oddly enough, the first covid-19 and the current crypto winter have worked for Socios. Dreyfuss feels that the downturn in the cryptocurrency sector is removing some of the more impractical projects, but the fan tokens, with their global base in sports fans, will be able to continue to evolve without distraction.

However, the World Cup hasn’t worked out for them so far as many expected, and the token actually dropped in the first week.

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More of a marathon than a sprint

Dreyfus feels that the real goal for Socios (haha) right now is to appeal to non-crypto fans, to convince them that fan tokens have real value to them, as they will probably be a little skeptical at first. Currently, the Ethereum token, says there are plans to launch its own blockchain for the sports industry.

“The company is developing a Chili Chain 2.0 based on sports clubs, which is destined to be in the sports industry, with them in place as nodes and endorsements,” he says.

“The first iteration of this is planned for late this year, or early next. The idea is that there will be a whole ecosystem of sports clubs and fans (and Socios.com) interacting and trading with each other, generating revenue and rewards.”

Let’s give the last word to a fan: “To live a priceless experience with an idol – no comparison is possible.”

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Julian Jackson

Julian is a professional journalist and copywriter specializing in the environment, technology, and business. He has worked for the BBC, Channel 4, Reader’s Digest, NBC and Der Spiegel. https://julianj.journoportfolio.com

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IBATUSD price is in a potential buying opportunity

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Battle Infinity Price Forecast: IBATUSD Price at Possible Buying Opportunity (Dec 1)
In the event that the bulls defend the selling pressure, the increase in the momentum of the bulls may lead to a break of the resistance level at $0.002504 and this may lead to an increase IBATUSD The price has reached the higher upper trend line of $0.1000.

Key levels:
Resistance Levels: $0.002500, $0.002600, $0.002700
Support Levels: $0.002300, $0.002200, $0.002100

IBAT (USD) Long-Term Trend: Bullish (1 hour)
The IBATUSD The pair is still bullish on the higher timeframes. This is evident as we can see the price bar above EMA-9 approaching EMA-50.

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It is good to see a strong buy reaction from the price at the $0.002350 supply level as a lot of contracts pile up as the 1-hour session begins today.

If the coin price is currently exchanging at the $0.002440 support mark, and with sustained buying pressure, it is likely to retest the $0.002519 supply area which could result in daily gains for coin holders.

Thus, we have a bullish bias that the market value of Battle Infinity will rise further to the upside if the buying pressure increases. Currently, the coin price is making a correction, and there might be a possible further rally in the coin market price, and that could lead to a retest of the previous rally at the $0.002538 resistance value soon.

We can also see the Momentum indicator pointing up, which means that the cryptocurrency is likely to continue its bullish trend; Therefore, we expect the price distribution to reach the $0.1000 level soon in the long run.

IBAT (USD) Short-Term Trend: Bullish (15 minutes)
IBATUSD is moving with bullish momentum from its short-term point of view. The trend is going up and the price has not yet reached its target.

Battle Infinity Price Prediction for Today, December 1: IBATUSD Price in Possible Buying Opportunity
The coin price distribution has now moved to a high of $0.002364 which is above the moving average lines shortly after the 15-minute chart opened today, this indicates that the bulls are gradually gaining access to the market for the time being and possibly from Likely took sooner. Thus, staying above the resistance trend lines will make it able to push the currency price up further.

Similarly, a price indicator that is also bullish suggests that Battle Infinity price might remain in an uptrend, in which case the upper resistance sign at $0.1000 could be a target soon on the short-term time frame.

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