Tether Surpasses $120 Billion In Market Cap!

Welcome back to the Daily Coinsauce Newsletter! Let’s dive into today’s updates—there’s a lot to unpack!

📅 Today

USDT Market-Cap Hits An All-Time-High 🙏 

Tether's USDT has surpassed the record $120 billion market capitalization for the first time in history.

An increasing stablecoin supply is often seen as a signal of an impending bull run because it suggests investors are loading up on stablecoins before investing in crypto

Tether’s growing stablecoin supply could catalyze the next rally for BTC, especially given the fact that Q4 seasonality is bullish for Bitcoin

To confirm a potential breakout from its current crab walk, Bitcoin needs to close the week above $68,700, and increased USDT supply, along with buying pressure from ETF's could be the catalysts that support this rally.

Tesla Still HODL’s It’s BTC Stack 😅 

Tesla still holds all 11,509 Bitcoin, worth over $776M, following recent wallet transfers, dispelling rumors of a sale.

Arkham Intelligence had reported Tesla moved its Bitcoin to new wallets, sparking speculation of a sell-off.

However, Arkham later clarified that these were internal transfers as part of a wallet restructuring, confirming Tesla has not sold any of its Bitcoin.

This update coincides with the sixth anniversary of Elon Musk’s first public endorsement of Bitcoin on October 22, 2018, when Bitcoin was valued at $6,400.

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🌎 Other News

• Binance to Halt Support for ALGO, DGB, GMX Trading Pairs. Read more.

• Solana Reaches Record High Economic Activity. Read more.

• Japan maintains conservative approach to crypto ETFs. Read more.

• Paul Tudor Jones Longs Bitcoin & Gold as ‘All Roads Lead to Inflation’. Read more

• Sol/Eth ratio hits a new all-time-high. Read more

📕 Educational

According to Ecoinometrics, if Bitcoin’s current breakout attempt is successful, we will soon enter a true bull market phase, with attractive price targets for Bitcoin.

Their simulations, assuming sustained momentum over the next 12 months, show a good chance that the price will at least double from here.

That would puts BTC close to $140k by late 2025.

According to them, if BTC maintains it’s support above $65k, the long-term outlook remains strong, and we at Coinsauce agree with this analysis.

📊 Stat of the day

🤣 Meme of the day

That concludes our update for today!

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Disclaimer: None of the content shared in the newsletter is financial advice. Always do your own research and analysis before investing.