Current Bitcoin Price: $3883 (as of 10:00 AM PST)
Top Crypto News Stories for 14th March 2018
Tether, the world’s most popular stablecoin (and by a large stretch!), has come under a lot of fire for its business practices. Most notable, Tether has been criticized for changing its reserve policy to use more and more ambiguous wording.
Well, Tether’s reserve policy has been changed yet again. Previously, the policy wrote that each single USDT was backed by a single US Dollar; they’ve now changed that to say that USDT are backed by “reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties.”
Price is always the key indicator in any financial market, but analysts still like to look for other signals that can help explain past or predict future price movements.
One of the indicators that some home crypto enthusiasts have been referring to is the Google search popularity for various terms or categories. As of late, Google Trends is showing significantly more interest for the “altcoins” category than at any point during the last 12 months.
A few weeks ago we covered a story in which a tiny amount of Ethereum was set with huge, thousand dollar fees. Some spectators pointed out that this was most likely a money laundering scheme.
Well, the same thing has just happened on the Bitcoin network: less than a dollar of coin has been sent for almost 8000 dollars of fees. It’s believed that these transactions are mined by the same individuals who send them, which — on paper — allows them to claim the huge fee from a legitimate source.