According to the most recent figures, Ethena’s USDE now boasts an APY of 67.2%, positioning it among the top annual percentage rates within the realm of stablecoin decentralized finance (defi). Furthermore, the supply of this stablecoin has expanded significantly, increasing by 414.6% in the last 30 days. Rapid Growth for Ethena’s USDE Currently, Ethena’s USDE […] Source CryptoX Portal
The stablecoin earns yield by shorting ether futures and capturing funding rates – which have surged in the past two weeks. Source
As the cryptocurrency market swells to a valuation of $2.6 trillion, the leading stablecoin, tether, has achieved a market cap of $100 billion. Beginning from the start of 2024, tether has seen an addition of 8.27 billion tokens to its supply. From $300K to $100 Billion: Tether’s Meteoric Rise Tether (USDT), the top fiat-linked digital […] Source CryptoX Portal
Tether Holdings’ USDT stablecoin token has reached a significant milestone by briefly surpassing $100 billion in circulation and market capitalization, making it the first stablecoin to reach this size. Tether’s USDT aims to maintain a one-to-one value with the US dollar and has experienced a circulation increase of over 9% since the beginning of the year, driven by the growing demand for Bitcoin (BTC), which is currently trading at its highest value in over two years of $66,000. USDT Market Share Hits 70%, Exceeding $100 Billion In Circulation CoinGecko data…
The company has, however, received a fair amount of scrutiny over the years for its opaque reserve management, having at one point risky backing assets like Chinese commercial paper and credit to now-bankrupt crypto lender Celsius, and a lack of independent audits – a deeper financial analysis than attestations. It now says it is backed mainly by more secure investments such as U.S. Treasury bills, repurchase agreements and deposits in money market funds. Source
Tether’s USDT stablecoin market cap exceeded the $100 billion mark today, setting a significant benchmark. As the first stablecoin to achieve this scale, USDT’s distribution has increased by over 9% from the beginning of the year, driven by a surge in demand for Bitcoin, which reached $66,000 today for the first time since November 2021. Tether’s position as the most frequently traded cryptocurrency worldwide has been cemented as part of the milestone. The peak in circulation reached $100.2 billion around 8:10 a.m. GMT on Monday, as per CoinGecko, though it…
The stablecoin sector experienced a $3.26 billion expansion within the last eight days, climbing from $140.82 billion to $144.08 billion by Sunday, March 3, 2024. During February, increases in supply were observed in four of the top five stablecoins by market cap, with FDUSD’s supply growth leading amongst the five. Stablecoin Economy Rises 2.31% in […] Source CryptoX Portal
“Existing stablecoin models lack transparency and equitable value distribution, privatizing their gains and socializing their losses, and going against the ethos that web3 was built on,” Person said in the release. “Usual is proud to be addressing this void by providing a permissionless, real-asset backed stablecoin that shares our profits directly with the community, and empowers our token holders to guide us to the future that they see fit.” Source
In the opening fortnight of February, the stablecoin domain expanded by $1.7 billion, marking a significant rise. The value of the fiat token crypto market has once again risen witnessing an increase exceeding $2.5 billion over the past ten days. Specifically, three stablecoins have driven this upswing, with the stablecoin ethena usde at the forefront […] Source CryptoX Portal
Circle has integrated USDC directly onto the Celo blockchain, enabling faster and cheaper transactions with its native stablecoin. This aligns with Circle and Celo’s shared mission of increasing financial access. San Francisco-based financial services firm Circle announced the launch of USDC on the Celo blockchain earlier this week, allowing users to access the regulated US dollar stablecoin without needing to bridge assets across chains. USDC is now natively integrated on Celo, joining the blockchain’s existing stablecoin use cases including remittances, savings, lending, and payments. The move provides another way for…