MakerDAO’s native token $MKR has experienced a 4% decline in the past 24 hours and a 6% drop over the course of the last 7 days, signaling a challenging period for the cryptocurrency. Recent on-chain reports reveal that MakerDAO Multisign 0xbba has deposited 421.985 MKR, equivalent to $1.29 million, to Wintermute Trading OTC at a price of $3,046 before the price downturn. This deposit adds to the multisign’s overall activity, which has seen 9,043 MKR deposited to Wintermute Trading OTC at an average price of $3,291, totaling $29.76 million, since the price surge on March 17, 2024. Multisign 0xbba, likely
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Tether, the stablecoin company, has launched native USDT, the largest dollar-pegged stablecoin, on The Open Network (TON). With this addition, over 900 million Telegram users can seamlessly transfer digital dollars, without having to type crypto addresses. 11 million TON will be distributed among USDT users on TON to incentivize its adoption in the ecosystem. Tether […]
Solana developers have successfully pushed a series of fixes to address network congestion issues. On April 15, Solana urged validators to update to v1.17.31, a version that changes how certain validators are treated depending on their stake. Further fixes will be shipped in the coming weeks, including a new scheduler that will be disabled by […]
Tether, one of the largest companies in the cryptocurrency industry, has announced a reorganization of its business operations, seeking to restructure to support its expansion. Tether will now have four business divisions: Tether Data, focused on tech developments; Tether Finance, dedicated to the digital assets business; Tether Power, dealing with mining operations; and Tether Edu, […]
Over the past seven days, the stablecoin sector has expanded by $2.81 billion, bringing the dollar-pegged cryptocurrency market close to a total valuation of $160 billion. A significant portion of this growth, exceeding $2 billion, is attributed to the increase in USDT’s market capitalization, which reached $109.38 billion by Friday at 1:00 p.m. Eastern Time. […]
The smart money protocol Umoja has joined forces with the Bitcoin layer two (L2) initiative, Merlin Chain, to roll out a Bitcoin-based high-yield synthetic dollar. The newly introduced stablecoin is engineered to uphold a self-sustaining peg via transparent, onchain trading techniques developed by Umoja. Merlin Chain and Umoja Reveal USDb: The New High-Yield Synthetic Dollar […]