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On Wednesday Trueusd, a stablecoin designed to be pegged to the US dollar, experienced a sudden bump in price after Binance announced support. The news caused Trueusd (TUSD) to rise by an unprecedented 40% before eventually subsiding. Trust Token, the coin’s developers, have now explained to news.Bitcoin.com how this sequence of events came to be. […]
The post Trust Token Blames Bots for Volatility of Trueusd Stablecoin appeared first on Bitcoin News.
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As cryptocurrency works its way toward mass adoption, one of its biggest obstacles is volatility. Markets change overnight, and we’re so desensitized to it that we don’t even blink at dips that would bring national economies to their knees. Stablecoins – cryptocurrencies that are tied to existing currencies or commodities like the US dollar or gold – are fungible, easily traded assets that bring us one step closer to mass adoption. While promises of $1 = 1 coin make stablecoins appear simple, stablecoin projects rely on complex algorithms to do the following: Keep the currency’s value from inflating, (e.g., increasing over a dollar) Keep the currency’sPowered by WPeMatico
Stablecoins are an interesting addition to the world of digital currencies. These coins usually have their values pegged to tangible assets, such as natural reserves or fiat currencies. STASIS is now in the process of creating EURS, which is a stablecoin pegged to the euro. It’s an interesting idea, assuming there is a market for it in the first place. EURS Will be Introduced in June For those unfamiliar with STASIS, it is a fully compliant blockchain platform capable of tokenizing any existing asset. The firm specializes in free monetary flow between off-chain and on-chain digital assets. As one would expect,Powered by WPeMatico
Circle has always been an intriguing company in the world of cryptocurrency. The firm makes it easier for consumers to invest in Bitcoin and altcoins through traditional payment methods. It now seems the company is looking to create its very own stablecoin, which is pegged to the US dollar. This currency will be known as Circle USD Coin, or USDC. Another US Dollar-pegged Stablecoin is Coming The world of stablecoins has been heating up as of late. For those who are unfamiliar with stablecoins, they are not traditional cryptocurrencies by any means. By default, a cryptocurrency cannot be non-volatile and stable, evenPowered by WPeMatico
It’s customary for cryptocurrencies to pump after securing a Binance listing. Every week a handful of tokens enjoy the “Binance bounce”, gaining as much as 50% in a matter of hours. Trueusd (TUSD) was meant to be different though. It’s a stablecoin whose job is to stay as close to the US dollar as possible. […]
The post “Stablecoin” Trueusd Pumps After Binance Listing appeared first on Bitcoin News.
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It does not happen all that often that cryptocurrency projects quickly raise over $100 million. Although we have seen a literal ICO craze, Intangible Labs is doing things the traditional way. Rather than rely on crowdfunding, the company has raised $133 million from private investors. This is a pretty significant deal for the Princeton University graduate-led venture. What Exactly is Intangible Labs? While it is commendable to see Princeton graduates show a keen interest in cryptocurrency, most people will not know the name Intangible Labs. That is not surprising, as not too much is known about this particular venture at this time.Powered by WPeMatico
Stablecoins aren’t exciting. They don’t pump, moon, or 10x. And yet they have the potential to make traders more money than any other cryptocurrency. These stabilized tokens – usually pegged to the US dollar – scarcely move in price, and yet they’re pivotal in anchoring the crypto markets. Here’s everything you should know about the […]
The post Meet the Stablecoins Taking on Tether appeared first on Bitcoin News.
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Today’s Bitcoin in Brief provides some leisurely Sunday reading for anyone who has a life to live outside of crypto. We curate the best stories from the past 24 hours and condense them into a daily digest so you can stay in the loop in less time than it takes to boil a kettle. In […]
The post Bitcoin in Brief Sunday: Stablecoin v Stablecoin appeared first on Bitcoin News.
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After over a month of absence Tether has returned to the USDT printing business, issuing $300 million worth in just one massive batch. The proximity of the move to the recent reversal of the downtrend in the market has lead to renewed calls by critics that Tether is manipulating prices. Also Read: Survey Says […]
The post Tether Back in the Printing Business With Massive $300 Million Batch appeared first on Bitcoin News.
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Cryptocurrencies do not always carry the label of “legal tender” in most countries. In fact, the number of countries where Bitcoin and altcoins are legal tender can almost be counted on one hand. Quintric is trying to change that by issuing legal cryptocurrencies backed by silver and gold. It is quite an interesting project, although its chances of success are unknown. The Quintric Project is a Bold Venture It is safe to say stablecoins are becoming the new hot commodity in the financial sector. For those who are unaware, a stablecoin is a (digital) currency pegged to the US dollar, preciousPowered by WPeMatico