Tag: Stablecoin

Tether’s USDT surpasses $100b mark, sets new stablecoin record

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…

Stablecoin Sector Sees $3.26 Billion Growth Spurt; Tether Nears $100B Milestone, USDE Supply Swells by 374%

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

Finance Protocol Usual Introduces Stablecoin Backed by Real-World Assets

“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

Stablecoin Market Jumps by Over $2.5 Billion in 10 Days, Led by Rise in Key Players

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 Rolls Out Native USDC on the Celo Blockchain, Expanding Stablecoin Access

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…

South Africa to Start Work on Stablecoin Regime and Tokenization

Alongside many countries, South Africa has been ironing out its approach to crypto. Last year, the Financial Sector Conduct Authority (FSCA) and the Financial Intelligence Centre (FIC) declared crypto to be a financial product and started registering crypto asset service providers. This year, the country will add stablecoins as a particular type of crypto, the Treasury department’s budget paper said on Wednesday. Stablecoins are digital assets whose value is tied to assets like the U.S. dollar. Source

Surge in Stablecoin Supply Signals Robust Capital Inflow to the Crypto Market – Blockchain News, Opinion, TV and Jobs

By Enoch Mutembei In the past week, Bitcoin has experienced a bullish rally, breaking through the highly coveted $52,000 threshold and reclaiming nearly all losses incurred since the FTX collapse. This milestone is crucial for an industry grappling with a prolonged bear market. Coinciding with Bitcoin’s upward trajectory is a noticeable uptick in the combined market capitalization of major stablecoins, including USDT, USDC, BUSD, and DAI. The aggregate market cap of these four stablecoin giants has expanded from $131.232 billion to $138.993 billion between Feb. 13 and Feb. 20, indicating…

Tangible’s USDR Stablecoin Charts Path to Recovery

The path from failure to redemption sheds a light on the wonky tokenomics that underpin mixed-asset stablecoins, which attempt to hold their dollar peg through collateral that isn’t always, well, a dollar. These constructions can have upside in good times but can go south in a hurry during a liquidity crunch. Source