According to February 2024’s latest inflation data, Turkey faces an inflation rate exceeding 67%, amid ongoing currency devaluation and a declining lira against the U.S. dollar. Recent findings suggest that in an effort to safeguard their wealth, Turks are increasingly turning to gold, with smuggling hitting unprecedented levels. Additionally, there is a growing interest among […]
Category: Stablecoins
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TUSD’s Supply Halves as It Drops to 8th Rank Among Stablecoins
Over the past week, the stablecoin trueusd (TUSD) experienced a notable decrease in its supply. As of March 19, 2024, the circulation was approximately 1.1 billion TUSD, which then plummeted to just 612 million. Supply Slash Sees TUSD Fall From Top 5 Stablecoin Rankings to 8th Position Previously ranked among the top five dollar-pegged cryptocurrencies […]
Argentina’s Greenback Love Is Being Substituted by a Bitcoin Rush
The popular savings strategy of exchanging pesos for U.S. dollars in Argentina is being substituted by bitcoin investments, which have had better performance lately. Numbers from Lemon, a local cryptocurrency exchange, indicate bitcoin purchases have risen to their highest number in 20 months as Argentines seek better alternatives than the dollar, whose value has been […]
Stablecoin Market Surpasses $150B, a First in 18 Months, After $980M Growth in 5 Days
The stablecoin sector achieved a significant milestone on March 20, 2024, hitting the $150 billion mark as the dollar-anchored market continues its expansion. In the last five days, the stablecoin sphere expanded by $980 million, breaking past the latest threshold. Stablecoin Market Value Tops $150 Billion The total value of all stablecoins now stands at […]
Stablecoin Sector Expands by $4.95B in 12 Days, USDE Sees 376% Supply Increase, Tether Hits $103B
In the past 12 days, the stablecoin sector has experienced a growth of $4.95 billion, reaching a new 2024 high of $149.03 billion in market valuation. Among various dollar-tied tokens that have seen their supply numbers go up over the last 30 days, Ethena’s USDE stands out with a 376% increase in its supply during […]
Tether Assists US Government in Seizing $1.4 Million From Unhosted Wallet
Tether, the company behind the issuance of USDT, the largest stablecoin in the cryptocurrency market, announced that it helped the U.S. government to seize $1.4 million linked to an alleged fraud scheme. According to the Northern District of Illinois U.S. Attorney’s Office, the seizure marks one of the first times that the U.S. has recovered […]
Despite Crypto Uptick, Paypal’s PYUSD Stays Quiet in the Top Ten Stablecoin Race
In the last day, the global trading volume has hit $203 billion, with stablecoins accounting for an impressive $133 billion of that total. Among the array of stablecoin assets tied to the U.S. dollar, Paypal’s PYUSD has emerged as a top ten player. Yet, despite the ongoing cryptocurrency market upswing, PYUSD has shown minimal activity […]
Tether to Collaborate With Uzbekistan on Developing Crypto Infrastructure Projects
Tether, one of the largest stablecoin companies, announced a collaboration with the government of Uzbekistan to develop cryptocurrency and communication projects. The memorandum of understanding (MoU) signed between the parties encompasses issuing a comprehensive crypto legal framework, developing an independent comms and financial system, and establishing crypto-related educational programs. Tether Signs Memorandum of Understanding With […]
Ethena’s USDE Yield Hits 67%, Outpacing Most Stablecoin Returns
According to the most recent figures, Ethena’s USDE now boasts an APY of 67.2%, positioning it among the top annual percentage rates within the realm of stablecoin decentralized finance (defi). Furthermore, the supply of this stablecoin has expanded significantly, increasing by 414.6% in the last 30 days. Rapid Growth for Ethena’s USDE Currently, Ethena’s USDE […]
FDUSD Climbs the Stablecoin Ladder, Fueled by Trading Volume and Supply Growth
Statistics indicate that the first digital usd (FDUSD), a recently introduced fiat-pegged token launched in August 2023, has risen to become the fourth-largest stablecoin based on market capitalization. Currently, FDUSD holds the fourth position in terms of 24-hour global trading volume. FDUSD Claims Fourth Spot Among Stablecoin Titans In the realm of U.S. dollar-pegged cryptocurrencies, […]