- Travala announces Tether users can now book a trip with USDT.
- The USDT token can be used on the Travala.com platform.
- Travala’s native token, AVA, records a 3.35% gain.
The world-leading blockchain-based travel booking platform — Travala continues to incorporate more travel utilities to its platform. Today, the Travala team announced to the Tether fans that they can now book a dream trip to the Maldives with USDT in a tweet.
Ok— Shanell Gibson (@Shanell13238822) October 10, 2021
Particularly, with Tether’s USDT, travelers can book flights and over-the-water bungalows. Not to mention, enjoy activities such as snorkeling, boat excursions, tours, and a lot more on Travala.com.
What’s more, Tether (USDT) is a stablecoin that aims to keep cryptocurrency valuations stable. The USDT tokens in circulation are proportional to U.S. dollars. Meanwhile, the native token of Travala is AVA. AVA is a BEP-2 token based on the Binance Chain.
Moreover, Travala allows travelers from all across the globe to book and explore several travel options. Travala accepts Credit Card, Debit Card, and cryptocurrency. Besides, AVA’s current price is $3.1 with a market cap of $164,608,058.
To promote accessibility to anyone and everywhere, Travala aligns travel bookings with the ethos of decentralized technology. With AVA, tourists can easily get discounts, loyalty rewards, and other packages on the Travala.com ecosystem.
Ultimately, since its inception in 2017, Travala tasks itself as a firm that brings the travel industry transparent pricing and innovation. What’s more, deliver enhanced security and effective stakeholder interaction.
On a final note, the AVA token saw a 3.35% increase in the last 24 hours. Travala’s circulating supply is at 52,923,082 AVA and a Total supply of 61,383,832 AVA at press time.
Will This Move By Tether Jeopardize The Crypto Market’s Incoming Bull Run?
The crypto market’s crash in the recent past has been terrifying for the folks from the crypto sphere. As digital assets across the charts have exhibited double-digit losses. Billions from the market cap of the industry have gone Houdini. Which is currently at $2.3 trillion from the sky-high peaks of $3 trillion a couple of weeks ago.
Netizens have been pondering over the plausible reason for the market cycle. Which is currently not the one that the industry is wishing for. Meanwhile, Tether minting $1,500,000,000 worth of USDT out of thin air has been paradoxical for the players from the business.
Is Tether The New Wolf?
A mention on a public platform goes like Tether has minted $1,500,000,000 worth of USDT out of thin air. The documentation of the creation of the asset, its movements remains in a mist. The mint of such big numbers has left the space in turmoil.
This is in addition to a steep incline in the movements of deep-pocketed traders. According to substantial sources, 29,999,959 USDT was transferred from Huobi to an unknown wallet. 19,998,355 USDT moved from Huobi to Bitfinex. Movement of 40,000,000 USDT from FTX to Tether Treasury, which is an addition to a long list of transactions.
Wherefore geeks are trying to connect the dots to vivid possibilities. One such possibility is following the footprints the massive printing of USD has left behind. Which did perplex people around the globe, and is a growing concern for the beneficiaries of the asset class. Sections have also been contemplating it to be a plausible catalyst for the market’s crash.
Collectively, one of the paramount rationales behind the burgeoning concern is USDT being a primary pair against digital assets. In case of an uncertain event, the space could experience adverse impacts. Howbeit, the assumptions would not justify the movements of digital assets in the market. As there are numerous other factors that have been in play. The maze of time will help the industry rise beyond the odds.
Tether Whales Move Over $533,000,000 in USDT Amid Broad Digital Asset Market Correction – Here’s Where the Crypto Is Going
A severe market correction coincided with a surge in activity from crypto whales, who moved over half a billion dollars worth of stablecoins in a matter of hours, according to a whale-watching bot.
As Bitcoin started to breach the $50,000 level at around 01:30: UTC on Saturday, hundreds of millions of dollars in crypto began flowing between exchanges and wallets.
Whale Alert flagged one of the largest stablecoin transfers in the past day as a deep-pocketed crypto investor moved $116.68 million worth of Tether (USDT) from global crypto exchange Binance and into a wallet of unknown origins.
Also making a splash was another transfer from a different whale on Binance, who moved $118.87 million worth of USDT into an unknown wallet.
Other big transfers that were spotted during the crypto market crash were:
- 117,317,418 USDT worth $117.31 million transferred from Binance to unknown wallet
- 35,999,976 USDT worth $35.99 million transferred from Binance to unknown wallet
- 31,841,112 USDT worth $31.84 million transferred from Kucoin to unknown wallet
- 30,737,954 USDT worth $30.73 million transferred from unknown wallet to CryptoCom
- 29,889,390 USDT worth $29.88 million transferred from Curve Finance to unknown wallet
- 28,600,257 USDT worth $ 28.60 million transferred from unknown wallet to Binance
- 23,344,312 USDT worth $23.34 million transferred from unknown wallet to Huobi
Whale Alert also spotted a massive Bitcoin transfer. The entity shifted 15,074 BTC worth $720.62 billion between wallets of unknown origins.
The whale transfers occurred during one of the largest crypto market meltdowns in recent memory. According to data from Coinglass, about $2.5 billion worth of trades have been liquidated in the past 24 hours.
Tether FUD: The Mystery Behind $1 Billion USDT Print, Will Bitcoin (BTC) Price Pump?
The crypto market is going through another bearish phase this month as the top cryptocurrencies lost majority of their gains from October. Bitcoin (BTC) has failed to hold key support of $55,000 and currently trading at $54,777. Amid growing pressure from the bears, Tether’s latest issuance has created another market FUD.
Tether is often accused of printing additional USDT to pump the BTC market. Even though there hasn’t been conclusive evidence for the claims, the controversy around Tether’s reserves only adds fuel to the fire. The latest issuance of $1 billion USDT has created a similar controversy especially given the crypto market is bleeding.
Tether treasury printed a billion-dollar worth of USDT on November 26, the same day the crypto market fell sharply due to Covid-19 new variant induced fears in the stock market. Infamous crypto Twitter account that goes by the name of Mr. Whale claimed that Tether treasury minted $1 billion out of thin air.
The controversy also comes at a time when the US federal agencies have demanded more power from Congress to crack down on the stablecoin market. Tether has always been a major concern for the regulators, given its past record with the mismanagement of USDT reserves. The stablecoin issuer was recently fined $41 million by CFTC over misleading claims. However, this wasn’t the first time that Tether has found itself at the receiving end of regulatory agencies.
Earlier in February this year, Tether settled a long-drawn case with the New York Attorney General (NYAG) Office for mismanagement of funds. Tether was fined $18.5 million and barred from offering any service in New York.
Will BTC Price Pump Post Tether Issuance?
Bitcoin’s (BTC) price showed minor recovery earlier today, reaching a daily high of $55,329 before retracing below the $55K support zone again. The top cryptocurrency has lost more than 20% from its all-time high of $68,789 in October.
With November turning bearish again, the major price targets of $98K seem to be out of the picture. Plan B, the Bitcoin analyst who popularised the Stock-to-Flow model admitted that BTC is set to miss its first price target of November.
Floor model $98K Nov close will probably be a first miss (after nailing Aug, Sep, Oct). S2F model not affected and indeed on track towards $100K. pic.twitter.com/QO3bRUoGo3— PlanB (@100trillionUSD) November 25, 2021