Record stablecoin market share points to crypto upside: JPMorgan
Despite the FUD around stablecoins, the percentage of stablecoins in the total market cap has been growing recently, hitting new all-time highs. Go to Source Powered by WPeMatico
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Defi Protocol Abracadabra’s Stablecoin MIM Briefly Slides to $0.91 During the Crypto Market Rout
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 … Read more
Magic Internet Money token depegs as Terra (LUNA) domino effect persists
Citing an insider scoop, Autism Capital claimed that Abracadabra accrued $12 million in bad debt as a direct result of Terra’s sudden downfall, which has been refuted by founder Daniele Sestagalli. Go to Source Powered by WPeMatico
Coinbase is facing class action suits over unstable stablecoins GYEN, TerraUSD
The cryptocurrency exchange is accused of failing to do due diligence, among other things, after users lost large sums as a result of the depegging of stablecoins. Go to Source Powered by WPeMatico
The Number of Tethers in Circulation Dropped by Over 12 Billion in 2 Months, USDC Grew by 9%
During the last two months, the stablecoin tether has been one of the most traded crypto assets swapped against a myriad of digital currencies. 66 days ago on April 11, 2022, tether’s market valuation was over $82 billion with 82,694,361,442 tethers in circulation. Since then, more than 12 billion tethers have been removed from circulation … Read more
Elusive Bitcoin ETF: Hester Perice criticizes lack of legal clarity for crypto
SEC Commissioner and “Crypto Mom” Hester Peirce criticized the SEC on its regulatory guidance, but noted that change is possible if investors and regulators work together. Go to Source Powered by WPeMatico
Tether’s USDT market cap dips below $70B for an 8-month low
Amid Tether losing market share over the past few weeks, the Circle-backed USDC stablecoin has been notably growing, with the market value surging to $55 billion. Go to Source Powered by WPeMatico
Circle Launches Second Major Stablecoin Backed 1:1 by the Euro
On Thursday, Circle’s CEO Jeremy Allaire announced that the company has launched a new stablecoin pegged to the value of the euro (EUR). Allaire said that the new EUROC token is now live on the Ethereum network and will be “available to mint and redeem on June 30th.” Circle Launches EUROC Circle has announced the … Read more
Circle launches euro-backed stablecoin EUROC
Demand for stablecoins continues to rise as businesses look to on-chain liquidity to improve their operations. Go to Source Powered by WPeMatico
Tron’s USDD Remains Below the $1 Parity for 24 Hours, Token Hits a Low at $0.95 per Unit
Tron’s stablecoin USDD has remained below the $1 parity for well over 24 hours and around 3:00 a.m. (ET), USDD hit a low of $0.958 per unit. The Tron DAO Reserve has deployed more tron tokens and USDC to defend the peg and the DAO’s reserve web page shows the coin is overcollaterized by 314% … Read more