Market Watch

Fear & Greed

Heatmap

Top Movers

Latest News

MARKET NEWS
🏦 Tether Mints Big On Tron 

Word On The Street: Tether has minted an additional 1 billion USDT tokens on the Tron network, increasing the total USDT in the past year to $33 billion.

The details:

• On August 20, blockchain data revealed that Tether minted 1 billion USDT tokens on Tron and transferred them to its treasury wallet.

• The on-chain analytics platform Lookonchain reported that Tether's "Treasury" wallet minted $33 billion in stablecoins over the past year.

• According to data from Tronscan, 19 billion USDT tokens were created on the Tron network, while 14 billion were minted on Ethereum.

Why it matters: According to Tether’s Transparency page, as of August 19, Tether’s treasury holds only $36 million USDT tokens on Tron that are "authorized but not issued," suggesting that the supply on Tron may be running low.

SPONSORED BY BULLSEYE TRADES
💹 Top Tier Stock Alerts

These daily stock trade alerts shouldn’t be free!

The stock market can be a rewarding opportunity to grow your wealth, but who has the time??

Full time jobs, kids, other commitments…with a packed schedule, nearly 150,000 people turn to Bullseye Trades to get free trade alerts sent directly to their phone.

World renowned trader, Jeff Bishop, dials in on his top trades, detailing his thoughts and game plan.

Instantly sent directly to your phone and email. Your access is just a click away!

Subscribe for Free

Other News

Base hits 4M active addresses amid ‘Onchain Summer’ campaign. Base said it had allotted 600 ETH, worth $2 million, for developers who would build on the blockchain from June to August this year.

Dark Pools Dominate Ethereum as Private Transactions Surge. More transactions on the blockchain are getting routed privately as users try to avoid front-running bots that eat into trading margins, but network observers worry about a loss of transparency – and potentially a trend toward centralization.

Bitcoin mining expenses surge 168% amid capacity growth. BitFuFu expands its mining capacity by over 60% despite a dramatic rise in Bitcoin mining costs post-halving.

U.S. Elections-Linked Bitcoin Options Draw $350M in Open Interest. Distribution of open interest shows bullish sentiment, according to Wintermute.

Traders Corner (Premium)

Welcome, Traders!

Traders Corner is the premium section of The Blockstreet Journal. We provide one free report out of appreciation ❤️ 

Reports from our analysts today:

• DogWifHat Technical Analysis (Free)

• Cardano Technical Analysis (Paid)

• The Open Network Technical Analysis (Paid)

TRADERS CORNER
🐶 WIF Technical Analysis

WIF is approximately $1.514, trading slightly below the VWAP line. This indicates that the price is currently under some bearish pressure. The price action is within the lower standard deviation bands, suggesting that the current sentiment is more negative, though it has shown some recent recovery from the lows.

Trend Analysis:

The chart shows a downward trend, characterized by a series of lower highs and lower lows. However, the price has recently bounced off a key support level near $1.483, which aligns with the upward trendline that has been acting as a strong support over time. This bounce suggests that buyers may be stepping in at this level to prevent further declines. The overall trend is still bearish, but this support line is crucial for determining whether the price will continue to hold or break down further.

Support and Resistance Levels:

• Immediate Support: $1.483 (strong support from the upward trendline)

• Critical Support: $1.458 (next key support level if the immediate support fails)

• Immediate Resistance: $1.531 (VWAP line and upper deviation band, immediate resistance level)

• Critical Resistance: $1.556 (a more significant resistance level that could challenge the bearish trend)

Potential Scenarios:

1. Bullish Rebound: If the price holds above the $1.483 support and manages to break above the $1.531 VWAP line, it could indicate a potential bullish rebound. In this case, the next target would be $1.556, where the price could face stronger resistance.

2. Continuation of the Downtrend: A breakdown below $1.483 would likely signal a continuation of the downtrend, with the price potentially heading towards $1.458 or lower, depending on selling pressure.

3. Sideways Consolidation: If the price remains range-bound between $1.483 and $1.531, it could suggest a period of consolidation as the market digests recent movements before making a decisive move.

Become a paying subscriber of Premium to get access to this post and other subscriber-only content.

Already a paying subscriber? Sign In.

A subscription gets you:

• • Support What We do
• • Ad-Free Reading
• • Daily Technical Analysis Reports (M-F)
• • Price Locked (Protected From Future Price Increases)