Tether launches token pegged to Mexican peso. The crypto markets rallied with big gains with most cryptos like Bitcoin, Ethereum, Cardano, Binance and Shiba Inu rising up to 11 per cent.
Tether (USDT), the third-largest crypto stablecoin in the world, launched a token pegged to the Mexican Peso with ticker ‘MXNT’, bringing its total pegged tokens count to four. Tether has
US dollar-pegged (USDT), Euro-pegged (EURT), and an offshore Chinese Yuan-pegged (CNHT) coins since quite some time now.
The global crypto market capitalisation went up by 4.79 per cent to $1.25 trillion as of 8.39 am. The global crypto volume was up by 5.37 per cent to $54.15 billion, as per Coinmarketcap data.
Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $30,147.17, higher by 4.45 per cent in the last 24 hours. Ethereum (ETH) was up by 5.92 per cent to $1,872.01.
"Bitcoin is trading at $30,283.58, currently, with a rebound of about 5% in the last 24 hours. Even though the market leader is trading higher than the previous week, this continues the record of ninth-straight weekly loss. Prices for Terra's new LUNA tokens crashed almost as soon as they launched. Additional price breakdowns will result in higher levels of volatility," says Gaurav Dahake, CEO and founder, Bitbns.
Among other significant coins, Cardano (ADA) was up by 11.06 per cent at $0.5041, Algorand (ALGO) was trading with a gain of 10.16 per cent at $0.3905, Solana (SOL) and was trading with a gain of 9.14 per cent at $46.35, Polkadot (DOT) was up by 10.12 per cent at $10.34, and Binance Coin (BNB) was up by 4.41 per cent at $315.43.
Today’s top gainer was Novo (NOVO), which was up by 2934.35 per cent at $0.03248. The top loser was FUTUREXCRYPTO (FXC), which was down by 73.28 per cent at $0.3859.
Dogecoin (DOGE) was up by 5.42 per cent at $0.08463. Its volume to market cap ratio stands at 0.03607. Rival Shiba Inu (SHIB) was up by 11.36 per cent at $0.00001182.
Dogelon Mars (ELON) gained 6.83 per cent to trade at $0.0000004676, Floki Inu (FLOKI) gained 3.49 per cent at $0.000009187 and Samoyed Coin (SAMO) gained 3.82 per cent at $0.005293.
In the DeFi segment, YFI (yearn.finance) was up by 5.62 per cent at $7,853.79, and Terra Classic (LUNC) was trading with a gain of 28.11 per cent at $0.0001122. Avalanche (AVAX) was up by 14.28 per cent at $27.42, Uniswap (UNI) was trading with a gain of 7.67 per cent at $5.17 and Aave (AAVE) was up by 8.35 per cent at $99.95.
Paolo Ardoino, CTO, Tether, said in a press release, “Introducing a Peso-pegged stablecoin will provide a store of value for those in the emerging markets and in particular Mexico. MXN₮ can minimise volatility for those looking to convert their assets and investments from fiat to digital currencies. We have seen a rise in cryptocurrency usage in Latin America over the last year that has made it apparent that we need to expand our offerings”