Tag: Stablecoin

Total stablecoin supply hits $180 billion: Report

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Move aside Bitcoin (BTC), stablecoins are holding the spotlight. Crypto research outlets Arcane Research and CryptoRank confirm that the stablecoin supply has hit the milestone amount of $180 billion.  The growth in stablecoins continues to outpace the rest of the market, up 6% in the past 30 days. In times of market volatility, stablecoins can offer price stability, backed by specific assets or algorithms. Source: CryptoRank Over the month of February, three stablecoins entered the top 10 coins by market capitalization as Binance USD (BUSD) briefly entered. According to Arcane Research,…

Terra’s LUNA Jumps 15% as UST Stablecoin Gets $1B Bitcoin Reserve

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“Raising a BTC reserve is a smart move and may result in lesser fluctuations of UST during future bouts of market volatility,” Matthew Dibb, chief operating officer and co-founder of Stack Funds, said. “Ideally, LFG would take steps to keep the reserve 100% on-chain for transparency rather than through centralized means, however, the price action of Luna since the announcement has been largely promising in restoring confidence to the Terra ecosystem.” Original

Stablecoin Supply Near $200 Billion, Faster Growth Than Rest of Crypto

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Stablecoin supply shows significant growth during the year. The market cap of the top stablecoins is roughly $181 billion, over 11% of the total crypto market, which is now at $1,6 trillion after shedding over $140 billion in the past two days over geopolitical concerns. Consequently, data shows that stablecoins are growing at a much faster pace than the crypto market this year. Crypto total market cap at $1,6 trillion in the daily chart | Source: TradingView.com Faster Than The Crypto Market Having significantly accelerated their pace since 2020, data…

Stablecoin Economy Grows Close to 10% Larger in 54 Days — GUSD, BUSD, USDC Issuance Jumps – Altcoins Bitcoin News

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At the end of December 2021, the stablecoin economy’s market valuation was around $168.3 billion and since then, it has increased 9.92% to $185 billion in value. A number of stablecoins have issued more assets during the last seven days, as some of the top dollar-pegged coins have swelled by more than 20% since the past week. Stablecoin Economy Continues to Grow As cryptocurrencies have dropped in value during the last two weeks and the crypto economy fell below the $2 trillion range, stablecoins issuance continues to fill demand. At…

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Wyoming lawmakers introduce legislation for state-issued stablecoin

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Four members of the Wyoming Legislature have sponsored a bill that would allow the state treasurer to issue a stablecoin. On Thursday, Wyoming state Senators Chris Rothfuss and Tara Nethercott with House Representatives Jared Olsen and Mike Yin introduced Senate File SF0106, titled the “Wyoming Stable Token Act.” If signed into law, the bill would authorize the treasurer to issue a U.S. dollar-pegged stablecoin redeemable for fiat held in an account by the state. The state treasurer — Curtis Meier at the time of publication — would consult with the…