Recently, the Conservative party faced a blow as local election results indicated a large swing towards Labour. Labour managed to attain 1,158 local councilor seats and gained 186, whereas the Conservatives only attained 515 councilor seats and lost 474, falling behind the Liberal Democrat party, according to BBC data. Source
“This means trying to exclude all of trading, so not just automated trading,” he said. Trading, it shouldn’t have to be said, is a pretty big part of why people use crypto. Additionally, as far as Campbell can tell, Visa’s report cut out wallet addresses for centralized exchanges like Binance and Coinbase, which both hold stablecoins used in services like prepaid cards, “some of which are literally Visas.” Source
Bancolombia Group, one of the leading banks in Latin America and the biggest bank in Colombia, is entering the crypto business with the launch of Wenia, a cryptocurrency exchange. Wenia seeks to disrupt Bitso’s and Binance’s dominance in the cryptocurrency exchange industry in Colombia, and offer a Colombian peso-pegged stablecoin as part of its asset […] Source
In a recent report by Bloomberg, it has been revealed that more than 90% of stablecoin transaction volumes do not originate from genuine users, according to a new metric co-developed by Visa. Stablecoin Market Faces Data Reality Visa and Allium Labs have created a dashboard designed to filter out transactions initiated by bots and large-scale traders to isolate those made by real individuals. Out of approximately $2.2 trillion in total transactions recorded in April, a mere $149 billion was identified as “organic payments activity” by Visa. The data challenges the…
CoinspeakerOver 90% of Stablecoin Transactions Are Non-Organic In a surprising report from Bloomberg, Visa and Allium Labs’ recent study challenges the notion that stablecoins are poised to transform the global payments landscape. The report suggests that a startling 90% of stablecoin transactions in April 2024 did not originate from regular consumers, casting doubt on their potential as a mainstream payment method. Visa’s metric seeks to isolate “organic payments activity” by filtering out transactions driven by bots and high-volume traders. This revealed that only $149 billion out of a total of…
Less than 10% of stablecoin transaction volumes are organic or come from real people, according to new findings by Visa and data platform Allium Labs, Bloomberg reported. Source
Since the introduction of USDT on the TON blockchain, the supply of this stablecoin has grown by over 70 million within just two weeks, totaling 130 million. While USDT operates across multiple blockchains, its presence on TON has positioned it as the eighth largest in terms of circulating supply. TON Blockchain Sees 70 Million Increase […] Source CryptoX Portal
The top US crypto exchange Coinbase has announced that a stablecoin pegged to the Canadian dollar could soon be trading on its platform. Announcing via the social media platform X, Coinbase says it’s adding QCAD to its listing roadmap, which alerts customers that the company could soon add support for certain assets. QCAD was relaunched last year by digital asset company Stablecorp with the promise to maintain reserves at least equal to the amount of QCAD in circulation on public blockchains. QCAD is available for use on Ethereum (ETH), Stellar…
Bitwise CIO Matt Hougan said that the U.S. adopting comprehensive stablecoin legislature could signal the long-awaited “mainstreaming of crypto.” In a note addressed to clients, Hougan theorized that stablecoin regulations may have an even bigger impact than the largely successful spot Bitcoin (BTC) ETFs. “The launch of bitcoin ETFs in the U.S. epitomizes this transition, but it’s not the only road marker. Others include BlackRock launching a tokenized Treasury fund on the Ethereum blockchain, Europe passing comprehensive crypto legislation, Ray Dalio calling on investors to own “non-debt money” like bitcoin,…
U.S. lawmakers had been engaged this week in serious conversations about whether to jam a stablecoin regulation amendment onto the Federal Aviation Administration reauthorization legislation, which is approaching a deadline. Such efforts to use that bill for other business were rebuffed by leaders favoring a so-called clean bill, so the leading stablecoin negotiation between House Financial Services Committee Chair Patrick McHenry (R-N.C.) and its top Democrat, Rep. Maxine Waters (D-Calif.), will return to talks on a final deal, said the aide, who requested anonymity because the negotiations aren’t public. Source