This week, Hyperliquid received competing proposals from Paxos, Agora, and Frax to supply stablecoin infrastructure for USDH, with each bidder emphasizing regulatory posture, distribution, and how yield from reserves would be shared with the ecosystem. Hyperliquid Is Now Weighing Multiple Proposals Bitcoin.com News previously reported on Paxos on Sunday, Sept. 7, and Paxos’s written bid […]
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Frax Finance, the issuer of the stablecoin frax usd (FRAX), which currently holds the ninth spot among fiat-pegged tokens by market capitalization, is weighing the addition of Blackrock’s BUIDL token as a reserve backing asset. A governance vote, scheduled to wrap up on Dec. 31, 2024, will decide the proposal’s fate. FIP-418: Frax Finance Weighs […]
]]>Frax Finance, established in 2020, offers FRAX, a unique stablecoin in the crypto space, along with its governance token, Frax Shares (FXS), which accrues various revenues and collateral value. Despite reaching a peak of $42.67 in April 2022, FXS has demonstrated volatility and sensitivity to market conditions. BlockTower Capital appears to be dumping $FXS! In the past 2 days, the VC sold 150,304 $FXS for 1.51M $USDC at ~$10.5, allegedly causing the price to drop ~11%. They last sold $FXS just 7hrs ago and may sell the last 91,693 $FXS ($843K) soon. Est. total profit: $961K (+69%).… https://t.co/EheQsTKN61 pic.twitter.com/deJR2w38go —
The post Frax Finance Introduces Fraxchain Amidst FXS Token Sales appeared first on The Merkle News.
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After 16 consecutive months of decline, the stablecoin market dominance has fallen to 10.3% of the total crypto market capitalization.
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Just over two weeks have passed since Ethereum’s Shapella upgrade on April 12, 2023, which occurred at block height 6,209,536, enabling stakers to withdraw for the first time. At the time of the upgrade, slightly over 8 million ethereum was locked into liquid staking protocols. Since then, over 400,000 ether, valued at $763 million, has […]
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In an announcement made on April 24, Binance, the cryptocurrency exchange with the largest trade volume, unveiled its latest staking product, wrapped beacon eth (WBETH). This new addition to Binance’s staking solutions is built on the Ethereum network, joining the ranks of other competing liquid staking products such as Lido, Coinbase, Rocket Pool, and Frax. […]
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It has been a week since Ethereum’s Shapella hard fork, and statistics indicate that ethereum deposits on April 18 have exceeded withdrawals for the first time since the upgrade. At present, 929,999 ether worth $1.94 billion is pending withdrawal, and over the past three days, 112,568 ether has been added to liquid staking protocols. Just […]
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According to statistics, on March 26, the stablecoin economy was valued at $135 billion, with the top stablecoins representing $31.8 billion or 75% of the $42.17 billion in 24-hour global trade volume across the entire crypto market. In the last two weeks since March 11, 7.06 billion USDC and 351.57 million BUSD have been redeemed. […]
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The total value locked (TVL) in decentralized finance (defi) has risen above the $50 billion mark after falling below the range throughout most of March. At present, the value locked in defi is approximately $50.34 billion, up 1.97% over the past 24 hours.Defi Value Swells Close to 2% Higher to Over $50 Billion
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The stablecoin USDC has nearly regained parity with the U.S. dollar after rising just above $0.99 on March 12, 2023, at 7:20 p.m. Eastern Time. The stablecoin jumped back to the $0.99 range after the U.S. Federal Reserve revealed it would bail out depositors of California’s Silicon Valley Bank (SVB) and New York’s Signature Bank. […]
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