Green Across the Board!

After a mostly bearish month of September, the new month and Q4 is bringing excitement and green numbers for Bitcoin and other top crpyto projects. As BTC reclaimed the $50,000 bracket earlier this week, a tale as old as time soon followed: Ethereum launched past $3,600 and top alt coins followed suite, with the likes of Shiba Inu (SHIB) seeing a 300% gain in just the past week alone. The once-thought dead bull run has seemingly been resurrected, and analysts are attributing this to mounting economic forebodings across the globe, with the likes of China’s Evergrande bankruptcy, the United States federal government’s looming shutdown, and rampant inflation of fiat currencies. Crypto is looking better-and-better for retail and institutional investors alike, and the massive flow of liquidity into the market definitely alludes to this. Let’s cross our fingers that Q4 continues the way that its started!

Bloomberg Turns Up the Heat on Tether

According to a bombshell investigation released by Bloomberg, the market-dominant stablecoin Tether (USDT) has been accused of loaning billions of dollars worth of crypto to a variety companies, all while using bitcoin as collateral. According to the report, Tether was the largest investor behind the Celsius Network’s launch during the summer of 2020. Just this past month, Celcius received a cease-and-desist from the securities regulator for the state of Kentucky, gaining attention from the regulators watchful eye over interest-bearing accounts (A similar situation to that of Coinbase and the SEC recently). As regulators and the federal government continue to turn up the heat on stablecoin-issuers recently, this announcement had little (if any) impact on market sentiment, as top crypto projects across the board rallied into Q4.

Terra: Let Me Drive the Boat

Terra (LUNA), a decentralized financial payment network, has seen massive increase in use-case and adoption recently, resulting in major upward price action (An 800% increase since July 2021). Why has Terra been flying past top alt coins, you ask? Well, Terra recently launched its long-awaited Columbus-5 development upgrade. This upgrade adjusted the tokenomics behind Terra, making it so that all LUNA tokens used to mint UST will be burned as opposed to entering a community pool. The cause-and-effect of this is a deflationary burn will now be eating into the total supply of LUNA, making the circulating supply more valued. Analysts also believe that Terra has been expanding market presence due to its recent integration into the Cosmos ecosystem. As the network branches out and integrates with new blockchains and continues to refine its long term tokenomics, the future of Terra looks bright!