What Tether is doing is what PayPal is going to do that's why they have issued a Stable coin.

Strategy is simple : Take Dollar from people, issue the Stable coin, and let them play around On-chain with the Stable coin, buy T-Bills with the $ that are deposited to your DeFi protocol earn 5% interest rate. Keep the interest payment with you as profit and rest of your stable coin on chain remains backed by actual $.

Loop runs like this until Fed brings down the risk free rate to 0-2% range Tether/PayPal would keep printing profits. PayPal probably got into this as their share is down by 80% or so if I am correct and there is no easier way to earn $ and pump stocks other than DeFi innovation, well not literally innovation by PayPal rather it's more like a copy trading Tether lol.

For a US citizen it's easier to buy a T-Bill, just go to Fidelity and press buy but imagine for someone who is outside US how is he going to get that 5% risk free interest (assuming roi is 5% as long as Fed doesn't cut rates). That's where RWA comes into picture. Tokenizing real world asset and what's RWA here it's the T-Bill. Similarly, you can do it for Real Estate, Gold and what not in future.

Global payments giant PayPal (PYPL) is entering the cryptocurrency market with its own U.S. dollar-pegged stablecoin, PayPal USD (PYUSD).

The Ethereum-based token will soon be available to PayPal users in the U.S. and is the first time a major financial company is issuing its own stablecoin. Users can transfer PYUSD between PayPal and supported external wallets, fund goods and services purchases or convert any of PayPal's supported cryptocurrencies to and from PYUSD.

PayPal said the stablecoin will be available to an "already large and growing community of external developers, wallets and web3 applications," and can be easily adopted by crypto exchanges.

PYUSD is issued by New York-based crypto financial services firm Paxos Trust and fully backed by U.S. dollar deposits, short-term Treasuries and similar cash equivalents. It is redeemable for dollars at all times and can also be exchanged for other cryptocurrencies available on PayPal’s network, such as bitcoin (BTC), bitcoin cash (BCH), ether (ETH) and litecoin (LTC).

There is a good news and a bad news and I will start with the bad news first. The bad news is that #Bitcoin has developed a bearish divergence on weekly chart, however, the bearish divergence is not that massive but since the timeframe is weekly so you really can't ignore this chart. Men lie women lie but charts don't lie.

Having said that I have a good news for you as well. If you watch closely the #RSI is creating a pattern on weekly time frame and this pattern is evidently bullish in nature. This pattern is Inverse Head and Shoulders. Yes, you are right you can draw the patterns on indicators as well. There is no said rule that chart patterns can only be drawn on price action and not on indicators. So, the current RSI is forming a bullish pattern and again you can’t really ignore that.

So what should one do? The answer to that question is that this is not a very good time to trade Bitcoin as due to these indicators it is under a massive choppy zone. Let the indicators be in favor of you then you should be dealing with it. For now I would suggest if you are a #hodler then it's fine else, as a trader, you should wait for the right opportunity to Long/Short.

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Cheers!

#BTC next target is -> $34k

The expectation is that by Wednesday/Thursday, we should see some big move. The stochastic RSI on 1D has bottomed out and been consolidating there for a longer than usual period. If you see the MACD on 1D then it is about to have a bullish crossover before coming Friday. Usually, the MACD crossover takes place immediately after the pump so that would be the first leg up in BTC. Then once MACD goes green it will continue to remain green for at least another 15-20 days which means BTC could organically move to the upside to $34k range.

During this time, I expect all the major large caps like #ARB #OP #PEPE and more to show strength and double from the current market price. This is the time you should be accumulating more large caps as the first pump would give them a great push, easy 2x. Move to mid-caps and low cap shitcoins after the first leg is over, that's when under 50M coins would go ballistic. All in all, the market looks great again and we could see billions of dollars flowing in the market again.

Now, the only thing BTC needs to do is to #hold $29k for next 4 days. If it doesn't then the mentioned target would be invalidated.

Will be posting the next BTC update soon.

All the best!