Tether climbs on banking stability hope

October 18, 2018
Chris Wheal

Tether delisting and solvency worries appear to have slightly subsided as the stablecoin crept higher to 97 cents compared to 95 cents earlier in the day – though still some distance from its former $1 trading range. Tether appears to have made some progress with new banking arrangements with Bahamas-based Deltec Bank.

Tether’s rise compares with a bitcoin $142 fall to $6,528 mid-afternoon. The soft trading tone generally displays further distance from the giddy climbs bitcoin made on Monday when asset manager Fidelity confirmed it would be offering crypto trading services for institutional clients.

Russian crypto chill

As OpenLedger took a valuation check at 2.40pm, analyst John Isige at FXStreet reported more cooling of crypto tone from the Russians, specifically Elvira Nabiullina, head of Russia’s central bank.

“We’re holding this forum [Finopolis finance tech forum] for the fourth time,” she reportedly said, “and in that period a cryptocurrency craze managed to break out which is now – fortunately, in our opinion – beginning to fade away.”

Ski slope near Sochi – the recent Russian government tone on cryptos appears ambivalent at best

Elsewhere NEO is up +4.8% while TRON is almost 3.4% higher – far more bullish performances. For the most part though the mood is muted.

Below is the latest round-up of valuations taken at 2.40pm Thursday [London time] – all data taken from coinmarketcap.com

  1. Bitcoin -0.06% at $6,528
  2. Ethereum -0.58% at $205.81
  3. Ripple XRP -0.25% at $0.46
  4. Bitcoin cash -0.66% at $445.61
  5. Eos +0.23% at $5.40
  6. Stellar lumens +1.50% at $0.24
  7. Litecoin -0.45% at $53.03
  8. Tether +0.29% at $0.97
  9. Cardano +1% at $0.07
  10. Monero +0.64% at $105.95
Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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