Tag: Stablecoin

‘Millionaire’ stablecoin wallet addresses surpass 12 million

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According to data compiled by Coin Metrics, the number of stablecoin wallet addresses with account balances over an equivalent $1 million USD has recently surpassed 12 million — up from 4 million one year ago. The stablecoins counted in the analysis include Tether ERC-20 (USDT), Tether TRC-20, Binance USD, DAI, GUSD, HUSD, PAX and USD Coin (USDC). The vast majority of addresses holding more than $1 million came from Tether TRC-20 (approximately 8 million), followed by Tether ERC-20 (approximately 3.4 million), and USDC (approximately 1 million). Save for a sharp…

Stablecoin Economy Nears $200B, UST Supply Jumps Higher, USDN Spikes 43% in 30 Days – Altcoins Bitcoin News

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During the last 12 months the stablecoin economy has grown massive and the current valuation today is only $13 billion away from tapping the $200 billion mark. This month, the two biggest gainers in terms of 30-day issuance include Terra’s UST jumping 29.9% and Neutrino Protocol’s USDN spiking 43.8%. Stablecoin Market Capitalization Continues to Swell, Tether Crosses $80 Billion Monthly statistics show the largest stablecoin in terms of market capitalization, tether (USDT), increased by 2% this month as the valuation crossed the $80 billion mark. USDT is massive compared to…

Billion-Dollar Hedge Fund Fir Tree Eyes Shorting the Stablecoin Tether – Bitcoin News

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The hedge fund Fir Tree Capital Management’s investors claim it has developed a method to short the stablecoin tether. A report notes that “clients of the firm” said the potential to reap big rewards from shorting the world’s largest stablecoin is great. Investors Say Hedge Fund Devised a Method to Short Tether, Fir Tree Bets Short to Pay off in 12 Months On March 6, 2022, the market valuation tied to the stablecoin tether (USDT) surpassed the $80 billion mark. Tether is the largest stablecoin by market capitalization and it…

CBDCs will not impact private stablecoin market, says Tether CTO

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Paolo Ardoino, the chief technology officer at Tether, believes that the growing developments around central bank digital currencies (CBDCs) globally wouldn’t really impact the role of private stablecoins. Ardoino shared his two cents in a Twitter thread on the growing discussion around CBDCs and what could be their role in the current payment system. He said CBDCs would only replace the old-age centralized payment networks as SWIFT and use private blockchains to fulfill most transactions. He went on to explain that CBDCs are not about digitizing the fiat currency as…

USDF Stablecoin Consortium Adds 3 More Banks

“The increase in membership is a testament to the Consortium’s ability to provide in-depth guidance and connect banks with turn-key technology solutions as well as the transformative role that blockchain payment rails can play in financial services,” Ashley Harris, chair of the USDF Consortium, said in a statement. Source

AADollar – A New Generation Stablecoin For a Dynamic Market

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The global cryptocurrency market is gradually moving away from the pluralist model of multi asset interaction and is starting to become more centric, revolving around an established and highly capitalized hub of recognized and applicable cryptocurrencies. With the utility token having proven its inability to act as a store of value, the coins and stablecoins are turning into the hub of investment and capital activity on the market. The likes of Bitcoin, Ethereum and USDT Tether are currently holding the position of said hub, with the multiple other altcoins acting…

Why Stablecoin Interest Rates Are So Damn High

Stablecoins also provide crypto investors with a “safe haven” when cryptocurrency price volatility is high. So when cryptocurrencies go on a wild roller-coaster ride, as they have in recent months, demand for stablecoins rises. This tends to push them off their pegs, which rather destroys their purpose. So when people are cashing out of risky crypto into nice, safe stablecoins and USDC is starting to look expensive, Jeremy Allaire cranks up the printing presses. Source

Stablecoin issuer Circle launches business accounts for USDC transactions

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USD Coin (USDC) operator Circle has launched a new account service aimed at helping businesses transact in cryptocurrencies — potentially opening the door to wider mainstream adoption of digital assets.  The new business-centric Circle Account allows enterprise clients to deposit, withdraw, receive and store cryptocurrencies and have all payments settled in the USDC stablecoin, the company announced Wednesday. Circle’s new account features give businesses the ability to seamlessly integrate crypto payments into their operations and use digital assets as collateral. Account holders can send and receive USDC across eight blockchains,…