Jefferies said that stablecoin giant Tether has quietly become one of the gold market’s most influential new buyers.
Tether’s Gold Hoard Surges to 116 Tons, Rivals Small Central Banks
Jefferies said that stablecoin giant Tether has quietly become one of the gold market’s most influential new buyers.
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The Nasdaq-listed firm has been a pioneer of the crypto treasury strategy focusing on the native token of the Ethereum blockchain since 2021, well before the recent newcomers.
Bitcoin surged from an intraday low near $86,200 to reclaim $90,000, driven by aggressive spot buying and a wave of short liquidations.
Bitcoin and ether saw notable price gains Tuesday as U.S. officials raised hopes for a U.S.-China trade deal.
Futures activity hints at an influx of fresh shorts as Monday's bearish marubozu candle points to more losses ahead.