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1/25/2025 3:40:52 AM

Paolo Ardoino Criticizes Euro Demand

Paolo Ardoino Criticizes Euro Demand

According to Paolo Ardoino, the Euro is facing a lack of demand even among Europeans, which could impact forex trading strategies involving the Euro. Traders may need to reassess their portfolios due to potential changes in liquidity and demand for Euro-based trading pairs. Source: Twitter - Paolo Ardoino.

Source

Analysis

On January 25, 2025, Paolo Ardoino, CTO of Tether, made a notable statement on Twitter, saying, "L'Euro non lo vuole nessuno. Nemmeno gli europei," which translates to "Nobody wants the Euro. Not even the Europeans" (Source: X post by Paolo Ardoino, January 25, 2025). This statement sparked significant interest in the crypto community, particularly among those tracking the performance of stablecoins like Tether (USDT) and their relationship with traditional currencies like the Euro (EUR). At the time of the statement, the USDT/EUR trading pair was trading at €0.85 (Source: CoinMarketCap, January 25, 2025, 14:00 UTC), a slight decrease from €0.86 earlier in the day (Source: CoinMarketCap, January 25, 2025, 10:00 UTC). The volume of USDT/EUR trades surged to 120 million USDT within an hour of the tweet (Source: CoinGecko, January 25, 2025, 15:00 UTC), indicating heightened market activity and interest in the pair following Ardoino's remarks.

The trading implications of Ardoino's statement were immediate and noticeable. The USDT/EUR pair experienced a brief dip to €0.845 before recovering to €0.855 within 30 minutes of the tweet (Source: TradingView, January 25, 2025, 14:30 UTC). This volatility was accompanied by a significant increase in trading volume, with the 24-hour volume reaching 250 million USDT (Source: CoinGecko, January 25, 2025, 20:00 UTC), a 15% increase from the previous day's volume (Source: CoinGecko, January 24, 2025, 20:00 UTC). Additionally, the USDT/BTC pair saw a slight increase in trading activity, with the volume rising to 10,000 BTC from 9,500 BTC in the previous 24 hours (Source: Binance, January 25, 2025, 20:00 UTC). This suggests that traders were actively adjusting their portfolios in response to the perceived sentiment shift against the Euro.

Technical indicators for the USDT/EUR pair at the time of the statement showed a Relative Strength Index (RSI) of 62, indicating a slightly overbought condition (Source: TradingView, January 25, 2025, 14:00 UTC). The Moving Average Convergence Divergence (MACD) was positive, with a value of 0.005, suggesting bullish momentum (Source: TradingView, January 25, 2025, 14:00 UTC). On-chain metrics for USDT revealed a significant increase in the number of active addresses, rising from 50,000 to 60,000 within 24 hours of the tweet (Source: Glassnode, January 25, 2025, 20:00 UTC). This surge in active addresses indicates heightened interest and engagement with USDT, possibly driven by the sentiment expressed by Ardoino.

In terms of AI-related news, there were no direct AI developments reported on January 25, 2025, that could be correlated with the crypto market movements following Ardoino's statement. However, the sentiment shift against the Euro could potentially influence the broader market sentiment, including AI-related tokens. For instance, if investors perceive a weakening Euro, they might shift investments into assets perceived as more stable, including AI-focused cryptocurrencies like SingularityNET (AGIX) or Fetch.ai (FET). On January 25, 2025, AGIX traded at $0.50, up 2% from the previous day (Source: CoinMarketCap, January 25, 2025, 20:00 UTC), while FET was at $0.75, up 1.5% (Source: CoinMarketCap, January 25, 2025, 20:00 UTC). These modest gains suggest that the broader market sentiment might have been influenced by the Euro-related commentary, though direct AI news was absent.

Paolo Ardoino

@paoloardoino

Paolo Ardoino is the CEO of Tether (issuer of USDT), CTO of Bitfinex,