In the midst of a more optimistic crypto market, both bitcoin and ethereum have enjoyed steady growth, climbing by 3.13% and 3.61%, respectively, over the past week. Additionally, several other digital currencies experienced even more significant increases, with spx6900 (SPX) stealing the spotlight by skyrocketing 107.2%, making it the standout performer of the week. Crypto…
October 14, 2024 at 12:50 PM GST updated: October 14, 2024 at 11:00 AM 2 mins read News AE Coin is the UAE’s first stablecoin, fully backed by Dirham, offering secure digital transactions. Businesses can use AE Coin for instant payments, reducing costs and improving cash flow in the UAE. AE Coin integrates with DeFi,…
The leading stablecoin issuing company, Tether, is celebrating its tenth anniversary and a decade of innovation that has contributed to the advancement and development of the digital asset landscape. According to a press release by Tether, the crypto firm will commemorate the anniversary by releasing a documentary titled “Stability and Freedom in Chaos.” The documentary…
Stablecoin dynamics are flashing positive, reaching record highs and boosting liquidity within the crypto market. As historical data shows, this is good news for bitcoin (BTC) and the entire crypto industry because more liquidity often correlates with higher prices. A recent CryptoQuant report revealed that the total market capitalization of major USD-backed stablecoins now stands…
Argentina’s stablecoin adoption is rising fast. The country faces an economic crisis, and Latin America’s third-largest economy now relies heavily on crypto. Citizens use stablecoins to protect against inflation and currency devaluation. Also Read: Wall Street Bear Turns Bullish on Stocks After 2-Year Downturn The Rise of Stablecoins: How Argentina Adopts Crypto Amid Economic Crisis…
Este artículo también está disponible en español. According to a crypto analyst, Bitcoin (BTC) may be heading towards a capitulation due to tightening on-chain liquidity. However, this capitulation could be followed by a “full bull” market. Bitcoin Headed Lower Before Higher In a detailed thread on X about BTC price analysis, crypto analyst Cole Garner…
Amid the arrival of Ripple’s new RLUSD offering, the stablecoin market has found a new challenger to the ongoing dominance of Circle and Tether. Indeed, a report from CryptoQuant shows that stablecoin liquidity has reached a new record of $169 billion. That should only increase with the newcomer looking to create a big three. There…
TL;DR The XRP Ledger has undergone a code review to enable RLUSD integration with Automated Market Makers (AMMs), with further updates pending. Ripple recently warned users to be cautious of scams, as the stablecoin is not yet publicly launched. The Latest RLUSD Development In April this year, Ripple disclosed it will introduce a stablecoin pegged…
South Korea’s Ministry of Strategy and Finance announced on October 8 that it is reviewing measures to regulate stablecoins more strictly. This decision comes amidst increasing criticism that stablecoins are emerging as a hidden threat in the foreign exchange landscape due to inadequate government oversight. Rising Cross-Border Use and Industry Criticism According to local media…
A recent study part of the European Central Bank (ECB) working paper series has concluded that stablecoins are susceptible to shocks derived from U.S. monetary policy changes. Contractionary shocks make stablecoins react negatively, being even more relevant than traditional crypto shocks to stablecoins, while money market funds (MMFs) thrive. ECB Paper: Stablecoins Are Susceptible to…
October 6, 2024 at 03:45 AM GST updated: October 6, 2024 at 02:17 AM 2 mins read News Coinbase to delist non-MiCA compliant stablecoins by end of 2024 to meet EU regulations. Circle’s USD Coin trading surged 48% post-EU stablecoin regulation enforcement. Coinbase offers conversions to compliant stablecoins, bolstering regulatory adherence in the EU. Coinbase…
The EU’s MiCA was introduced in June, but won’t take effect until December Coinbase will deliver an update to its EU customers in November on how to switch their stablecoins to EU-compliant ones Circle was the first stablecoin issuer to receive an e-money license under MiCA regulations Crypto exchange Coinbase is to delist stablecoins that…
Coinbase will begin delisting non-compliant stablecoins that do not match new MiCA rules, including USDT, and complete the process by the end of 2024. Coinbase Global Inc. recently disclosed the plans in direct response to the European Union’s new MiCA regulations that will take effect on December 31. JUST IN: 🇪🇺 Coinbase to delist USDT…
Stablecoins are surging in popularity across Sub-Saharan Africa, accounting for 43% of crypto transactions compared to bitcoin’s 18.1%. This trend is driven by the instability of local currencies and limited access to US dollars. Businesses and individuals view stablecoins as a reliable way to store value and conduct international payments. Stablecoins as a Store of…
Bitcoin’s price briefly dipped to an intraday low of $59,860 shortly after 9 a.m. EDT on Oct. 3, 2024. As of 1 p.m., the cryptocurrency is trading above the $60,000 mark, though it continues to face challenges in maintaining this key psychological level. Crypto Market Sell-Off Drives Traders to Stablecoins At 1 p.m. EDT on…
October 3, 2024 at 06:23 AM GST updated: October 2, 2024 at 11:18 PM 3 mins read News Bitcoin, originally designed as digital cash, now acts more like a commodity due to its limited supply and market demand. Ethereum’s blockchain technology stands out with smart contracts, enabling decentralized finance and innovation. Stablecoins like Tether offer…
Jonathan Chester, CEO of Bitwage, has detailed how the company has been serving Argentine remote workers who prefer collecting payments from employers abroad in stablecoins. Chester stated that 70% of its customers in the country use stablecoins, reinforcing that these have helped Argentines increase their net salaries up to 50%. Bitwage CEO Jonathan Chester: 70%…
TL;DR Ripple cautioned users to beware of fake claims that its stablecoin is live. The SEC labeled the product as an unregistered asset, adding to its ongoing legal disputes with the company. XRP Army Beware Earlier this year, Ripple announced it will launch a stablecoin pegged 1:1 to the American dollar. It will be called…
BitGo, a leading digital asset custodian, will offer custodial services for USDA, a Cardano-based stablecoin, according to an Oct. 1 press release. The collaboration involves BitGo Trust, USDA’s issuer Anzens, and EMURGO, the tech provider behind the Anzens platform. Their combined efforts will focus on creating a secure stablecoin solution for the Cardano blockchain that…
published: September 30, 2024 at 01:45 AM GST updated: September 30, 2024 at 12:27 AM September 30, 2024 at 01:45 AM GST updated: September 30, 2024 at 12:27 AM 2 mins read News A transfer from Tether Treasury worth $110.47 million USDT to an unknown wallet has further attracted the market’s attention. Such a scaler…
Stablecoins, the cryptocurrencies pegged to fiat currencies like the U.S. dollar to keep their value steady, can still face failures. Several well-known examples demonstrate that maintaining stability is more challenging than it appears. So, how does something designed to be ‘stable’ unravel? A Historical Review of Stablecoin De-Pegging Incidents There’s no doubt that these stablecoins…
A Coinshares report has revealed that the role of Ethereum (ETH) in crypto is being shaped by two main pillars: marketplaces and stablecoins. However, while the network is making waves in these areas, the path forward for new applications remains unclear. Decentralized Exchanges Dominate The report, released on September 24, indicated that marketplace and stablecoins…
September 27, 2024 at 08:15 AM GST 2 mins read News Polygon saw the largest growth, with a 1,019% increase in new addresses over the last 30 days. Wrapped Ether (WETH) on grew by 263%, while LayerZero on Optimism and Arbitrum also showed gains. Stablecoins such as USD Coin and Tether experienced constant growth across…
With the dominance of the sector being well documented, both Robinhood and Revolut are reportedly considering the launch of their very own stablecoins. According to a Bloomberg report, the two companies are exploring entering the $170 billion market with their own offerings. The company would join several other prominent firms who have entered the space…
Este artículo también está disponible en español. Ethereum (ETH) demand is largely driven by the token’s use in on-chain applications and token transfers, according to a report by CoinShares. Ethereum’s Use-Cases Have Increased, But Long-Term Value Is Missing In a recently published detailed report, CoinShares’ Matthew Kimmell noted that despite Ethereum’s potential to host popular…
September 26, 2024 at 08:20 AM GST updated: September 26, 2024 at 08:04 AM 2 mins read News Over 10,000 cryptocurrencies exist in 2024, including Layer-1, Layer-2, stablecoins, and DeFi coins with varied uses and attributes. L2 blockchains improve L1 abilities by providing off-chain transaction scaling and quicker execution. Stablecoins offer price stability, while DeFi…
Vitalik Buterin, co-founder of Ethereum, took to social media platform X to commend Celo’s growth. The blockchain network recently outpaced Tron in daily active addresses for stablecoin usage. Celo’s Growth In his post, Buterin expressed enthusiasm for the achievements, stating: “This is amazing to see. Improving worldwide access to basic payments and finance has always…
Este artículo también está disponible en español. Tether (USDT), the world’s largest stablecoin and the third largest crypto in market cap, has asserted its dominance in the cryptocurrency market and is now close to achieving a significant milestone. Recent data shows a massive influx of money into the crypto industry in the past week, with…
In the past month, the stablecoin market has kept its upward momentum, with four out of the top five U.S. dollar-pegged tokens increasing in supply. Since Sept. 15, the stablecoin economy has expanded by $1.04 billion, all within just six days. Tether, USDC See Supply Boosts as Stablecoin Market Grows by $1B in Less Than…
In a development that is huge for the digital asset sector, stablecoin issuers now represent the 18th largest US Treasury holder, according to a recent Bernstein report. Indeed, the private wealth management firm has noted that the assets as a category are now viewed alongside some of the most dominant sovereign holders. The report arrives…
East Asia’s cryptocurrency market is experiencing significant growth, driven by institutional adoption in South Korea and Hong Kong, according to a report by blockchain analytics firm Chainalysis. South Korea leads with $130 billion in on-chain value, while Hong Kong emerges as a major hub due to its unique regulatory framework. Both regions reflect shifting attitudes…
Circle is partnering with Sony Block Solutions Labs to launch USDC on Soneium, Sony’s Ethereum Layer-2 blockchain. The collaboration includes the launch of Bridged USDC on Soneium, part of the economy of the Sony blockchain ecosystem. “By integrating Circle’s financial infrastructure with Soneium, we are set to redefine the landscape of digital entertainment and finance,”…
Congressman French Hill has raised concerns over the U.S. Securities and Exchange Commission (SEC)’s handling of digital asset regulations, criticizing Chairman Gary Gensler’s leadership for creating legal uncertainty and a politicized approach. The lawmaker highlighted his subcommittee’s legislative successes but expressed frustration with the SEC’s broad and unclear regulations, which he argued burden digital asset…
Palo Alto-based crypto custody firm BitGo has launched a new stablecoin, USDS, that is set to go live in January 2025. The company says the stablecoin will be fully backed by U.S. dollars through a mix of short-term Treasury bills, overnight repos, and cash in a bid to ensure liquidity and minimize risk. New Approach…
September 18, 2024 at 03:45 AM GST updated: September 18, 2024 at 03:36 AM 2 mins read News TON Foundation partners with Curve to launch TON-based stable swap using CFMM technology. The new stable swap project targets enhanced trading stability and reduced price volatility on TON. Submissions for development teams open until September 24, fostering…
Your guide: Best Stablecoin Interest Rates Unlike Bitcoin and Ethereum, which are more generally recognized for being erratic, stablecoins serve primarily as a stable means of trading in the cryptocurrency realm. With stablecoins, doing trades and moving money is simpler. They also attract new buyers—including those who were reluctant to enter the crypto market since…
Former U.S. President Donald Trump has led the launch of World Liberty Financial, a new cryptocurrency venture, raising concerns about potential conflicts of interest. The project, featuring the WLFI token, allocates 20% to the founding team, including the Trump family, and 63% for public sale. Despite heavy promotion, its purpose remains unclear. A leaked draft…
Think stablecoins are just a vehicle for anonymous crypto trading? A new survey from Castle Island Ventures would suggest otherwise. In a report sponsored by Visa, the firm showed that crypto users in five developing countries – Nigeria, India, Indonesia, Turkey, and Brazil – are turning to stables largely as a means of payment and…
The firm behind the leading stablecoin, Tether, announced former PayPal executive Jesse Spiro as its new Head of Government Affairs. Indeed, he brings more than 6 years of experience in the crypto space. Moreover, his previous work was in the realm of government relations. Tether announced the appointment in a press release, calling Spiro an…
As digital economies evolve, stablecoins emerge not just as mere facilitators for crypto trading but as pivotal tools in global financial systems. A comprehensive report by Castle Island Ventures and Brevan Howard Digital, sponsored by Visa, unveils the profound impact of stablecoins on monetary dynamics worldwide. Transforming Global Finance: The Rising Influence of Stablecoins According…
Este artículo también está disponible en español. Recent changes in the behavior of Bitcoin on the market suggest the coin could be preparing for its next significant bull run. One important consideration is the fall in Bitcoin reserves on exchanges. Less of Bitcoin is accessible for trading as owners migrate it to cold storage. Historically,…
Bitcoin recorded one of its most impressive daily performances in recent history yesterday when it pumped from a daily low of $53,600 to just over $58,000. Here are some of the possible reasons behind this surge while the community speculates whether the worst has passed and BTC could resume its 2024 bull run. ETF Flows…
Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms…
September 7, 2024 at 12:10 PM GST updated: September 7, 2024 at 10:43 AM 2 mins read Crypto Live News Japan’s largest banks are launching Project Pax to integrate stablecoins into cross-border payments, using familiar systems like SWIFT. Stablecoins, pegged to the yen, aim to minimize currency fluctuation risks in international trade, following Japan’s 2022…
September 7, 2024 at 04:00 AM GST updated: September 6, 2024 at 10:55 AM 2 mins read News Some currencies focus on solving instability problems by providing stablecoins. This paper analyzes five significant cryptocurrencies: Tether (USDT), USD Coin (USDC), Staked Ether (stETH), LINK, and UNI. Tether (USDT): The Introduction to the Concept of Stability Considered…
In what local media are calling the first operation of its kind, the Argentine judicial system ordered the seizure of nearly $28,600 in stablecoins from a criminal organization that used cryptocurrency to launder millions of dollars. The criminals obtained these funds from two main activities: phone smuggling and operating illegal online casinos. Argentine Justice Orders…
Prominent crypto market maker DWF Labs has finalized the design of its synthetic stablecoin which would be backed by a mix of digital assets, including Bitcoin and Ethereum. In a Sept. 5 post on X (formerly Twitter), DWF Labs co-founder Andrei Grachev revealed that the synthetic stablecoin would be overcollateralized and backed with fiat stablecoins…
Polygon (MATIC) has seen a price increase, aligning with broader market recoveries. The upcoming POL migration on September 4th is expected to enhance the network’s functionality. Polygon (MATIC), an Ethereum layer 2 solution, has seen a noticeable increase in value following recent market adjustments. The digital currency has shifted to a bullish trajectory, reversing its…
Over the past few weeks, there’s been a buzz of intrigue and speculation around World Liberty Financial, a decentralized finance (defi) project led by Eric Trump and Donald Trump Jr. After facing some rumors and critiques, the project’s X account finally released fresh details about its mission, aiming to clear the air. World Liberty Financial…
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