Tag: Stablecoin

Circle’s USDC stablecoin gobbles Tether’s market share with 50B milestone

boss

The world’s second-largest stablecoin by market capitalization keeps on growing as it erodes the dominance of the current leader, Tether. The stablecoin landscape is a constantly-shifting dynamic but one trend has become clear over the past year or so — Tether’s dominance is diminishing. Its main rival, Circle, has just reached a milestone of 50 billion USDC in circulation according to CoinGecko and a Feb. 1 tweet by company co-founder and CEO, Jeremy Allaire. 50 BILLION USDC (w/ thread below) pic.twitter.com/5FEaPmXjup — Jeremy Allaire (@jerallaire) February 1, 2022 Allaire said…

Stablecoin Issuance Surged Last Year — UST Saw the Largest 12-Month Increase – Altcoins Bitcoin News

boss

Stablecoins have become prominent payment rails in the world of cryptocurrencies commanding $177 billion in fiat value today. The top ten stablecoins by market capitalization represent the largest share of the value in the fiat-pegged coin economy and many of these tokens grew exponentially last year. Terra’s UST stablecoin grew the most last year, jumping 5,431% in 2021. A Deep Dive Into Stablecoin Growth During the Course of 2021 Stablecoins today represent 9.77% of the $1.8 trillion crypto-economy today which is $177 billion in USD value. While many digital assets…

Alerta máximo com Ethereum! 5,4 milhões de ETH entraram em corretoras!

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io BitNada – Seu jornal diário sobre Mercado, Bitcoin e Criptomoedas 🔥 DeFi do Zero à Renda Passiva – 🔥 Sinais de Trade BitNada – 🔥 !!BitSampa 2022 ÚLTIMO LOTE!! – 🔥 O2 Research – ———– ✅ Links e produtos BitNada – ✅ Instagram – ✅ 30 dias Grátis Vector Pro – ✅ BitPreço – ✅ Alter – ✅ Liqi – ✅ Compre sua Hardware Wallet – ———– ATENÇÃO: AS ANÁLISES E NOTÍCIAS COMENTADAS NESTE CANAL SÃO PARA FINS DE ESTUDO E APRENDIZADO.…

Users flock to Curve amid lack of stablecoin liquidity on major DEXs

boss

In a Tweet posted by user @cryptotutor Friday, a screenshot appears to show a 27% spread between stablecoin Magic Internet Money (MIM) and USD Coin (USDC) trading pair on decentralized exchange, or DEX, Uniswap (UNI). Both have a theoretical peg of 1:1 against the U.S. Dollar. “Magic Internet Money,” joked cryptotutor, as he attempted to swap approximately $1 million in MIM but received a quote for only 728.6k USDC. Others quickly took to social media to complain as well. In another screenshot, user @DeFiDownsin allegedly received a quote to swap…

DeFi Users Fret ‘Contagion’ Risk Amid Possible Stablecoin Depegging

A scandal has rocked investor faith in a popular stablecoin, and as users rush to exit, the clamor is threatening to throw the asset off its dollar peg. Even worse, however, some observers worry that one stablecoin losing its peg could have a “contagion” effect, diminishing the value of multiple stablecoin assets as well. On Thursday, popular on-chain analyst zachXBT revealed on Twitter that the pseudonymous CFO of DeFi project Wonderland was in fact Michael Patryn, the co-founder of the notorious fraudulent Canadian crypto exchange QuadrigaCX. Read more: How Did…

Zuckerberg’s Diem reportedly weighing sale after stablecoin plans falter

boss

Meta-backed crypto initiative “Diem” is reportedly trying to sell its assets, seemingly calling time on Facebook founder Mark Zuckerberg’s grand ambitions for a stablecoin to act as the internet’s currency. Diem — which was previously known as Libra — is Meta Platform’s cryptocurrency initiative. According to insider sources speaking with Bloomberg, it is considering selling assets to return capital to its investors. The sources said that Diem is in discussions with investment bankers to determine the best way to sell its intellectual property and cash out on whatever value the…

Bank of America says stablecoin adoption and CBDC is ‘inevitable’

boss

It appears that the U.S. will finally be moving forward to create its own central bank digital currency (CBDC) according to the Bank of America. Bank of America crypto strategists Andrew Moss and Alkesh Shah wrote in a Jan. 24 note that CBDCs “are an inevitable evolution of today’s electronic currencies,” according to a Bloomberg report. The analysts wrote: “We expect stablecoin adoption and use for payments to increase significantly over the next several years as financial institutions explore digital asset custody and trading solutions and as payments companies incorporate…

Luna Foundation Guard Launches to Support UST Peg as Stablecoin Blows Past $11B Market Cap – Bitcoin News

boss

The Luna Foundation Guard, a new decentralized organization developed to support the Luna ecosystem, has been launched last week in Singapore. The institution will offer funding in the form of grants to support initiatives built on top of the Luna network. One of its biggest functions will be to establish a “forex reserve” that will aid UST, the companion stablecoin of the Luna ecosystem, to maintain its peg. Luna Foundation Guard Launches to Support Terra Ecosystem The Luna Foundation Guard, a non-profit organization, has launched to help support…

Know Stablecoin Regulations to Enjoy Safe Digital Trading

boss

Stablecoins have become the new sensations nowadays, and people have started to adopt Stablecoins due to the fluctuations that cryptos have created. However, Cryptos has been in the news regularly due to its regulations in different countries. A stablecoin would act as a barrier and control the cryptocurrency fluctuations. Wow! Wow! Wow! This is what is happening around the world with the regulations being imposed in various regions. However, Stablecoins are making crypto owners crazy. Now let us look at what a stablecoin is, the regulations imposed with it, and…