Magic Internet Money – DIGIT INFO

Binance US to Delist Tron and Spell Tokens Amid Heightened Regulatory Pressure

DIGIT — Wed, 12 Apr 2023 21:30:53 +0000

According to a recent announcement from Binance US, the American-based subsidiary of the largest cryptocurrency exchange by volume, the exchange plans to delist the cryptocurrency asset tron. The news follows Binance’s being sued by the U.S. Commodity Futures Trading Commission (CFTC), and Tron founder Justin Sun’s being sued by the Securities and Exchange Commission (SEC) […]

Go to Source

Stablecoin Economy Growth Stagnates for 73 Days, USDC Market Cap Slides 5% Lower

DIGIT — Sun, 18 Sep 2022 17:30:02 +0000

Since the Terra stablecoin fiasco in May, the top stablecoins by market capitalization dropped 10.66% from $171.37 billion to today’s $153.09 billion. During the last two months, the top stablecoins by market capitalization have seen little growth remaining at $153 billion since mid-July. For More Than 2 Months Stablecoin Market Caps Stagnate Seeing Little Growth […]

Go to Source

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 […]

Go to Source

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 […]

Go to Source

Stablecoin Economy Is $10 Billion Away From Reaching a $200 Billion Market Cap

DIGIT — Mon, 11 Apr 2022 20:00:18 +0000

The stablecoin economy has grown during the last month as the market capitalization is now only $10 billion away from reaching the $200 billion mark. While the largest stablecoin, by market valuation, tether (USDT) swelled by 3% during the last 30 days to $82 billion, terrausd (UST) has increased by 15.4% to $16.7 billion. Stablecoin […]

Go to Source

Stablecoin Economy Nears $200B, UST Supply Jumps Higher, USDN Spikes 43% in 30 Days

DIGIT — Tue, 15 Mar 2022 03:30:37 +0000

During the last 12 months the stablecoin economy has grown massive and the current valuation today is only $13 billion away from tapping the $200 billion mark. This month, the two biggest gainers in terms of 30-day issuance include Terra’s UST jumping 29.9% and Neutrino Protocol’s USDN spiking 43.8%. Stablecoin Market Capitalization Continues to Swell, […]

Go to Source

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. […]

Go to Source

Stablecoin Valuations Continue to Swell, MIM and MUSD Market Caps Increase by Triple-Digits in 30 Days

DIGIT — Sat, 06 Nov 2021 15:30:35 +0000

In mid-October, the market capitalization of all the stablecoins in existence was $134 billion and during the last three weeks, the valuation has increased by 5.59% to $141.5 billion. While terrausd’s market cap jumped by 6.7% over the last month, the stablecoin DAI saw an increase of 27.3% in 30 days. The largest stablecoin by […]

Go to Source

Defi and Algorithmic Stablecoin Demand Grows in 2021 Despite Large Centralized Competitors

DIGIT — Wed, 13 Oct 2021 19:30:53 +0000

On Wednesday, October 13, 2021, the market capitalization of all the stablecoins in existence is around $134 billion, which is 5.60% of the entire $2.4 trillion crypto economy. While centralized stablecoin projects dominate the pack of dollar-pegged tokens, a great number of decentralized stablecoins have been moving in on these centralized competitors. Algorithmic or defi-styled […]

Go to Source

Magic Internet Money races past $1B, sets sights on MakerDao

DIGIT — Fri, 08 Oct 2021 05:38:19 +0000

Abracadabra Money enables users to provide collateral via interest-bearing bearing tokens and borrow the Magic Internet Money stablecoin against their holdings.

Go to Source