Abracadabra – DIGIT INFO

Stablecoin Economy Sheds Another $3 Billion in 44 Days

DIGIT — Sat, 28 Jan 2023 21:00:30 +0000

The stablecoin economy continues to deplete as more than $3 billion has been erased from the stablecoin market ecosystem over the last 44 days. While statistics show that tether’s market valuation has risen by 2% over the last 30 days, usd coin’s market cap slid by 2.9%, BUSD valuation shed 7.2% over the last month […]

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Defi Lending Sector Experiences Major Shake-Up: 71% of Total Value Locked Evaporates in 12 Months

DIGIT — Tue, 17 Jan 2023 18:30:53 +0000

Decentralized finance (defi) has continued to remain deeply ingrained in the cryptocurrency economy as the ecosystem provides users with a non-custodial way to exchange digital assets, lend cryptocurrencies, issue stablecoins, and ways to profit from arbitrage. In the lending sector of defi, a lot has changed during the last 12 months as lending applications like […]

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USDD Continues to Trade for Under $1 — Tron DAO Reserve Insists Stablecoin Has Not Depegged

DIGIT — Tue, 21 Jun 2022 05:30:25 +0000

Since June 12, 2022, the Tron-based stablecoin USDD has remained below a U.S. dollar in value. On Monday, USDD had a 24-hour trading range of around $0.943 to $0.966 per unit and the day prior on June 19, USDD saw an all-time low at $0.928 per unit. Despite being below the U.S. dollar parity, the […]

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Defi Protocol Abracadabra’s Stablecoin MIM Briefly Slides to $0.91 During the Crypto Market Rout

DIGIT — Sun, 19 Jun 2022 04:00:37 +0000

Amid the crypto market carnage this weekend, another stablecoin slipped below the $1 peg on Saturday, June 18, as the crypto asset called magic internet money (MIM) briefly dropped to a low of $0.914 per unit. The Abracadabra-issued stablecoin dropping in value follows the recent terrausd (UST) failure and USDD’s recent volatility last week. Stablecoin […]

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Do Kwon Accused of Cashing out $2.7B Before UST Collapse, Terra Founder Says Allegations Are False

DIGIT — Mon, 13 Jun 2022 05:30:51 +0000

Terra’s new LUNA 2.0 token has lost 54% in value in the last two weeks, after reaching $11.33 per unit on May 30. Meanwhile, the whistleblower Fatman has accused Terra’s co-founder Do Kwon of cashing out $2.7 billion a few months before the UST de-pegging incident. Kwon, however, has been keeping tabs on Fatman’s accusations […]

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US Senate Banking Chief Criticizes Super Bowl Crypto Ads, Claims ‘Big Crypto Companies Are Desperate’

DIGIT — Wed, 16 Feb 2022 16:00:17 +0000

The United States senator from Ohio and Senate Banking Committee chief Sherrod Brown is not a fan of cryptocurrencies. This week during Tuesday’s stablecoin hearing, Brown criticized all the cryptocurrency companies who advertised during the Super Bowl this past weekend and stressed that he’s “never seen the Federal Reserve buy a multimillion-dollar commercial for U.S. […]

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Wonderland co-founder throws in the towel on beleaguered DeFi project

DIGIT — Mon, 31 Jan 2022 05:51:11 +0000

The DeFi debacle has caused ripples across the ecosystem as the project head looks to wind things up.

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Maker Co-Founder Calls UST and MIM ‘Solid Ponzis’ That Will Go to Zero

DIGIT — Sat, 08 Jan 2022 06:30:10 +0000

Rune Christensen, one of the founders of Maker, the decentralized autonomous organization behind the governance of stablecoin DAI, has spoken out against two competitors. He stated that UST, Terra’s dollar-pegged stablecoin, and MIM, another collateralized stablecoin, were “solid ponzis” and that the bear market would eventually lead their prices to zero. Maker Co-Founder Calls Out […]

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While the Value Locked in Defi Soars, Dozens of Dapps Leverage Cross-Chain Support

DIGIT — Sun, 07 Nov 2021 19:00:44 +0000

Decentralized finance (defi) protocols continue to shine as the total value locked in defi is over $260 billion. While Ethereum started the defi trend and holds the lion’s share of TVL in defi, a great number of decentralized applications (dapps) are supporting a slew of alternative blockchains. Today’s Most Popular Dapps Support More Than One […]

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