Tag: Altcoins

VC Darling Crypto Sui Makes Waves With Market Debut, Price Sinks 37% From All-Time High – Altcoins Bitcoin News

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A buzz has been generated around a new layer one (L1) proof-of-stake blockchain initiative named Sui, following the network’s mainnet debut on May 3, 2023. The native token SUI has been listed on various cryptocurrency exchanges, drawing attention to the project. On the same day the network launched, SUI peaked at $2.16 per unit, but has since dropped by 37% from its record high. Mysten Labs Launches Sui Mainnet, Draws Attention with Delegated PoS Blockchain and Move Programming Language As established cryptocurrencies continue to compete for dominance, a fresh wave…

Tether Grows 2.3% as Stablecoin Economy Loses $2.4 Billion in Value Since March 31 – Altcoins Bitcoin News

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While several top digital assets have decreased in value against the U.S. dollar over the past month, the stablecoin economy has lost $2.4 billion in value since March 31, 2023. Four of the top five stablecoins experienced net redemptions over the last 30 days, except for tether, which grew by 2.3% during that time. Four of the Top Five Stablecoins Experience Net Redemptions in the Past 30 Days On March 31, 2023, the top stablecoins by market capitalization represented $133.63 billion in value, and now the valuation is down to…

Binance Launches Ether-Based Liquid Staking Product WBETH to Rival Liquid Staking Competitors – Altcoins Bitcoin News

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In an announcement made on April 24, Binance, the cryptocurrency exchange with the largest trade volume, unveiled its latest staking product, wrapped beacon eth (WBETH). This new addition to Binance’s staking solutions is built on the Ethereum network, joining the ranks of other competing liquid staking products such as Lido, Coinbase, Rocket Pool, and Frax. WBETH Emerges as Binance’s New Solution to Ethereum-Based Staking Liquid staking products based on Ethereum have been gaining popularity over the past two years. According to defillama.com metrics, as of this writing, there are over…

New ‘Pepe the Frog’ Crypto Token Becomes Sixth Largest Meme Coin by Market Cap – Altcoins Bitcoin News

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A new token named after Pepe the Frog, the infamous meme, and cartoon character created by Matt Furie, has entered the meme coin economy. The token is called Pepe (PEPE), and at the time of writing, it has become the sixth-largest meme coin asset in terms of market capitalization, valued at just over $130 million. However, amidst the fast rise, both the website coinmarketcap.com and the Web3 security startup Gopluslabs have warned that the contract owner may have the ability to modify the transaction tax and blacklist function. PEPE Market…

Bitcoin led Q1 2023 with highest returns as altcoins tumbled

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied According to the most recent Coingecko analysis, bitcoin (BTC) was the asset that had the greatest return on investment during the first three months of 2023 as stablecoins tumbled.  Bitcoin’s value in US dollars increased from just under $17,000 on December 31, 2022, to over $28,000 on March 31, 2023. According to the article, the revival of the cryptocurrency asset may be attributed to “increased volatility from the banking crisis” and to the decision made by Binance to…

Tether Stablecoin Sees 22% Growth in 2023 Despite Dollar-Pegged Token Economy’s Contraction – Altcoins Bitcoin News

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Since January 2023, the number of tether stablecoins in circulation has grown from 66 billion to the current 80.9 billion, representing growth of more than 22% this year. Tether’s growth is approaching the high of $83 billion in stablecoins in circulation that the project saw almost a year ago, in May 2022. Tether Supply Is Nearing Its All-Time High The stablecoin market has recently contracted and is currently hovering around $131.94 billion. The decrease in the stablecoin market can be attributed to several dollar-pegged coins that have reduced their token…

With Close to 10 Billion Stablecoins Redeemed, BUSD’s Supply Drops to Lowest Level Since April 2021 – Altcoins Bitcoin News

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Statistics recorded on April 15, 2023, show that the number of coins in circulation for the stablecoin BUSD dropped below the 7 billion range to 6.68 billion, marking the lowest number of BUSD in circulation since April 2021. Furthermore, data indicates that the supply of BUSD has shrunk by 19.8% over the past 30 days. BUSD Stablecoin Supply Hits Lowest Point in Two Years BUSD, which was once among the largest stablecoins, remains the third-largest USD-pegged token. However, on February 13, 2023, Paxos announced that the New York State Department…

Dfinity Foundation Launches Chain-Key Bitcoin, a Native Internet Computer BTC Derivative Token – Altcoins Bitcoin News

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On April 3, 2023, the Dfinity Foundation, a development team behind the Internet Computer (ICP) network, announced the launch of a native ICP token called “chain-key bitcoin” or “ckBTC.” The bitcoin derivative is backed 1:1 with the leading cryptocurrency asset. On Monday, Dfinity detailed that the technology “builds on the protocol-level integration with the Bitcoin network.” Breaking Away from Custodians and Bridges: The Benefits of Chain-Key Bitcoin’s Smart Contract-Based System On Twitter, the Dfinity Foundation announced the full release of chain-key bitcoin, also known as ckBTC. “Proposals 115468, 115470 &…

why they may be better than altcoins

Cryptocurrency has become a popular investment option in recent years. Due to their price fluctuations, bitcoin (BTC), ethereum (ETH), and other altcoins have made headlines. However, one class of digital currencies, known as stablecoins, has emerged as a more stable and reliable option. In this article, our crypto knowledge base will discuss stablecoins, how they work, and why they may be a better investment option than altcoins. What are stablecoins? Stablecoins are cryptocurrencies that are created to maintain a stable value. Unlike bitcoin and other altcoins that are volatile, stablecoins are pegged…

TUSD Jumps 110% While Others Experience Reductions – Altcoins Bitcoin News

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Four stablecoins have reduced their supplies this month, while the stablecoin token TrueUSD (TUSD) has seen its supply jump 110% higher over the last 30 days. TUSD resides natively on four different blockchains. The number of Ethereum-based TUSD rose 27%, while the number of Tron-based TUSD stablecoins increased by 218%. TUSD Supply Swells, Tron-Issued Stablecoins Rise 218% In the past month, several stablecoins experienced supply reductions, including usd coin (USDC), binance coin (BUSD), gemini dollar (GUSD), and USDD. Gemini’s GUSD led the pack with a 30.5% redemption rate over the…