The adoption of stablecoins, digital assets whose values are pegged most commonly to the U.S. dollar, is spreading by the day as more and more private users and institutions appreciate the benefits of these tokens. As reported in a blog post by researchers Kyle Waters and Nate Maddrey at Coin Metrics, analyzing recent on-chain trends…
Stablecoin USDC is getting increasingly popular among crypto users and ditto institutions, so much so that USDC, the second-largest stablecoin by market cap, is on a steady streak narrowing the distance to market leader, Tether’s USDT. Just this week, USDC broke the $50 billion mark chasing USDT’s $70 billion in total market cap. Deployed in…
The stablecoin market has seen explosive growth over the past years. The market has been and still is, dominated by Tether’s USDT coin. However, the rival stablecoin issued by Circle Inc., USDC, just flipped USDT on the Ethereum blockchain – the largest stablecoin platform. A Flippening refers to a change in the total market cap…
A consortium of U.S. banks or “an association of FDIC-insured financial institutions” including New York Community Bank (NYCB), NBH Bank, FirstBank, Sterling National Bank, and Synovus Bank is set to launch a “bank-minted” stablecoin with the ticker USDF. According to a press release published on Wednesday 12th of January, the coalition of banks is aiming…
In recent times, one of the major economic crises countries around the world have been facing is inflation; especially as a number of them are having to battle with the dwindling purchasing power of their national fiat currency due to the effect of the coronavirus pandemic. Turkey is battling an economic crises One country fighting…
The long-held reign of DAI as the leading decentralized stablecoin, by market cap, has come to an abrupt end. One of the stablecoins within the Terra ecosystem, UST, now sits in the pole position of the largest decentralized stablecoin by market cap, earning UST a seat among the top 20 crypto projects by market cap….
Tether’s circulating supply has increased to $76 billion as the team minted an additional $3 billion worth of the asset during the last 2 weeks, and most notably $1 billion of those new coins were minted on Tron Network on December 4. Tether mints new coin, faces scrutiny about its backing According to available data,…
The US Securities and Exchange Commission (SEC) is about to play a leading authority role when it comes to proposing legislation and overseeing the stablecoin sector, Bloomberg recently reported, citing anonymous sources. The sources “familiar with the matter” leaked that a report expected this week by the US Treasury Department and other agencies will also…
Terraform Labs, the South Korean company behind the blockchain project Terra (LUNA), continues focusing on advancing the developer activity on the network. Meanwhile, the true impact of the network’s cardinal upgrade, dubbed Columbus-5, is yet to unravel, as the launch of Inter-Blockchain Communication (IBC) protocol and Wormhole support for Terra approaches. 160 more projects on…
The International Monetary Fund (IMF) has recently released its new Global Financial Stability Report, in which the entire chapter was dedicated to the discussion about financial stability challenges posed by the accelerating crypto adoption. The report reiterated old warnings, focusing on the advent of crypto in developing economies, while addressing some of the new emerging…