USDT Supply Nears All-Time Highs In Bear-Market Comeback – May 24

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$26,184

Bitcoin price has taken a slide from the $27,000 mark, currently sitting just above $26,000 Wednesday.

Top-20 altcoins have also taken a hit, as Ether and BNB each fall 3%, and Litecoin takes the biggest fall with a 7% drop.

Top Stories for May 24, 2022 🔥

👉 USDT Supply Nears All-Time Highs In Bear-Market Comeback

Tether USDT is experiencing a resurgence this bear market, as the total supply reaches $83.5 billion – just $0.6 billion shy of its all-time high of $84.1 billion last year.

In comparison, its competitor USDC has seen a decrease in supply from nearly $47 billion to $27.8 billion. Interestingly, Tether’s increase in supply doesn’t seem to be correlated with a surge in trading volumes according to data provider Kaiko.

Kaiko also questions the high issuance of USDT on the Tron network, considering its minimal DeFi activity and lack of support from major exchanges like Coinbase. They propose that exchanges such as Binance and OKX hold significant USDT balances on Tron, due to its low transaction fees.

👉 Solana Integrates ChatGPT Plugin & Launches AI Accelerator

The Solana Foundation has introduced a ChatGPT plugin that integrates artificial intelligence (AI) with the Layer 1 Solana blockchain.

The implementation allows users to directly interact with the Solana network using ChatGPT, enabling various functionalities such as buying NFTs, transferring tokens, inspecting transactions, interpreting public account data, and finding NFT collections by floor price.

The Solana Foundation has also expanded its AI-focused strategic grants program from $1 million to $10 million, as well as initiated a three-month accelerator program for university students.

👉 Security Firm Claims Ability To Hack Trezor Wallet In Phyical Attack

Unciphered, a cybersecurity company specializing in recovering lost or stolen crypto, claims to have found a way to physically hack into the Trezor T hardware wallet.

According to Unciphered, they utilized an “unpatchable hardware vulnerability with the STM32 chip” that allowed them to access the wallet’s seed phrase and pin. The company performed a laboratory demonstration and documented it in a video.

Trezor, the hardware wallet manufacturer, stated that they didn’t have enough details about the specific attack to respond fully but mentioned that it appeared to be an “RDP downgrade attack,” a risk that was flagged three years ago.