Crypto traders scramble for arbitrage as Tether’s USDT strays from dollar peg

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Traders turn to stablecoins as regulatory pressure in the US ramps up

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Tether’s USDT sets new all-time high in spite of regulatory concerns

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El Dorado Exchange attacker returns over $400k after team admits code vulnerabilities

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Stablecoin exchange balance drops below $20B

The volume of stablecoins held on centralized exchanges has fallen below $20 billion—its lowest since April 2021, according to Glassnode data as analyzed by CryptoSlate. According to the chart below, the stablecoin balance across exchanges peaked at over $44 billion in December 2022 when the market was still smarting from FTX’s collapse. However, that figure…

Tether USDT supply reaches $80B for 1st time in almost a year

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Arbitrum’s weekly DEX volume touches new ATH

Arbitrum’s decentralized exchange (DEX) transactions volume rose to a new all-time high (ATH) in each of the last two weeks, according to DeFillama data. Over the past seven days, DEX transactions increased 32.41% to $4.34 billion. For the week starting March 5, transaction volume on Arbitrum had surged to $3.28 billion. Arbitrum’s Weekly DEX Volume…

Tether’s circulating supply reaches 10-month high of $74B

Tether’s USDT supply reached 74 billion for the first time since May 2022, according to CryptoSlate’s data. Over the past 30 days, Tether’s supply added roughly 5 billion as its stablecoin rivals like Binance USD (BUSD) and USD Coin (USDC) faced regulatory scrutiny and banking issues. This resulted in investors ditching these embattled stablecoins for…

Over $2B BUSD burnt in the last seven days

Ad Binance USD’s (BUSD) supply shrank by 18.2% — roughly $2.27 billion — over the last seven days to $10.84 billion, according to CryptoSlate’s data. The massive redemptions have seen the stablecoin drop out of the top 10 cryptocurrencies by market cap, according to CoinGecko. During this period, Binance burnt $2 billion idle BUSD on…