🪙 Total crypto market cap is above $1 trillion again   🗑️  Peter Brandt about XRP: "even garbage can make a person a billionaire"  🌐 WebMoney adds support for USDT

GM. vEmpions! Welcome to our Newsletter, designed to keep you up to date on all the latest happenings in the crypto community. 

🪙 Total crypto market cap is above $1 trillion again🗑️ Peter Brandt about XRP: "even garbage can make a person a billionaire" 🌐 WebMoney adds support for USDT

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Total crypto market cap is above $1 trillion again

The total value of all cryptocurrencies in circulation has once again surpassed the $1 trillion mark, tracking the positive trend in traditional markets.

This is according to data from CoinMarketCap, which shows that the market capitalization of all digital assets currently stands at $1.02 trillion.

Despite analyst estimates that the Federal Reserve will raise interest rates by at least 75 basis points at the Federal Open Market Committee meeting on July 27, both markets are doing well.

This is good news for investors and shows that the future is still bright for both digital and traditional currencies.

Peter Brandt about XRP: "even garbage can make a person a billionaire"

It's no secret that prominent trader Peter Brandt is not a fan of the XRP cryptocurrency. In response to a tweet about how Ripple co-founder Jed McCaleb sold his holdings, Brandt called XRP "garbage."

"Just goes to show that even garbage can make a person a billionaire," he tweeted.

Ripple recently officially confirmed that Jed McCaleb had liquidated his XRP holdings. The co-founder earned an estimated $3.09 billion from selling his tokens on top of 708 BTC.

Brandt has repeatedly stated that the XRP cryptocurrency is an unregistered security.

While some people may disagree with Brandt's assessment of XRP, it's hard to deny that the cryptocurrency has been embroiled in a lot of controversy lately. XRP has been caught in the crosshairs of the U.S. Securities and Exchange Commission (SEC) since December 2020 when the regulator filed a lawsuit against Ripple, alleging that the company had sold $1.3 billion worth of unregistered securities.

The price of XRP tanked after the SEC's announcement, and it has yet to recover.

WebMoney adds support for USDT

WebMoney (a Russian online payment system with reported 45 million registered accounts ) has announced the addition of support for the WMT title unit (1 WMT corresponds to 1 USDT), which corresponds to USDT stablecoin. USDT holders will now be able to store, send, and receive the coin within the WebMoney system.  

Despite recent news about the crypto ban in Russia, this is a big step forward for the adoption of stablecoins, as WebMoney is one of the largest online payment systems in Russia and other former Soviet countries. 

With this move, WebMoney is increasing the utility of USDT and making it easier for users to store and use the coin. This will likely lead to more use of USDT and at least some increase in demand for the coin.