USDT market share jumps amid economic uncertainty, USDC shrinks
Over the past year, Circle’s USD Coin has seen its market share decline from 34.88% to 23.05%. Tether’s USDT shows a contrasting picture. Go to Source Powered by WPeMatico
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Bitcoin, Ethereum bears are back in control — Two derivative metrics suggest
Given the uncertainty in the macroeconomic environment, Bitcoin price bulls have no reason to bet against a six-week descending wedge pattern. Go to Source Powered by WPeMatico
Stablecoin issuers have spent over $1.3M lobbying Congress since 2022
Tether and Circle have been leading lobbying efforts among stablecoin issuers as they push for legislation and regulations for stablecoins. Go to Source Powered by WPeMatico
Blockchain developers launch $50M fund to increase Wormhole adoption
Wormhole is a cross-chain messaging protocol often used to transfer assets from one blockchain to another Go to Source Powered by WPeMatico
Circle reportedly adjusts USDC reserves to avoid US default risk
The world’s second-largest stablecoin issuer wants to reduce its exposure to potential US debt defaults. Go to Source Powered by WPeMatico
Tether has $1.5B in Bitcoin reserves: BDO Italia
The financial advisory and accounting firm also revealed that Tether held roughly $3.4 billion worth of precious metals. Go to Source Powered by WPeMatico
Circle launches cross-chain USDC transfer protocol for Ethereum, Avalanche
The new protocol burns coins on the sending chain, and mints new ones on the receiving chain. Go to Source Powered by WPeMatico
Circle CEO blames US crypto crackdown for declining USDC market cap
The market cap of USDC, a stablecoin issued by Circle, has reduced nearly by half over the past six months owing to the regulatory crackdown and banking crisis. Go to Source Powered by WPeMatico
Tether supply hits $80B for the first time since May 2022 — stablecoin rivals stumble
Tether supply across cryptocurrency exchanges has dropped 28% in 2023, however, hinting at an overall decline in demand for stablecoins. Go to Source Powered by WPeMatico
Stress test? What Biden’s bank bailout means for stablecoins
A major stablecoin depegging event raised concerns about the stability of these assets amid a U.S. banking crisis. The result may have been an improvement in their position in traditional finance. Go to Source Powered by WPeMatico