Circle’s USDC on track to topple Tether USDT as the top stablecoin in 2022
The USDT-to-USDC market cap ratio fell to its lowest ever in July 2022. Go to Source Powered by WPeMatico
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Ethereum Transfer Costs Continue to Slide — Network Fees Tap a 19-Month Low
On Saturday, Ethereum transaction fees tapped a low not seen since November 2020 as the average network fee dropped to 0.0016 ether or $1.67 per transfer. Average fees on Saturday have been as low as 32 gwei or $0.69 per transfer as Ethereum gas fees have been steadily dropping since May 11, 2022. Ethereum Fees … Read more
FTX CEO Sam Bankman-Fried Warns More Crypto Company Insolvencies Are Coming
In a recent interview, Sam Bankman-Fried, the founder of the popular exchange FTX, warned that some crypto exchanges are “secretly insolvent” and may soon fail. Bankman-Fried’s FTX and Alameda Research have already helped Blockfi and Voyager Digital as the 30-year-old billionaire says sometimes you have to do “what it takes to sort of stabilize things … Read more
While Bitcoin and Ethereum Dominance Slides, Stablecoin Market Caps Reap the Rewards
During the past 30 days, $285 billion has left the crypto economy and bitcoin’s USD value hit a 2022 low at $17,593 per unit on June 18. Moreover, last month’s statistics show bitcoin’s market dominance was 2.9% higher and ethereum’s market dominance was 2.1% higher than it is today. Bitcoin and Ethereum Dominance Has Dropped … Read more
Tether CTO refutes stablecoin FUD as short-sellers circle
Paolo Ardoino alleged some hedge funds are trying to create pressure “in the billions” to “harm Tether liquidity” so that they can eventually buy back tokens at a much lower price. Go to Source Powered by WPeMatico
Tether Launches Stablecoin Pegged to the British Pound Sterling
Tether, the company behind the largest stablecoin by market capitalization, has announced another fiat-pegged stablecoin called GBPT on Wednesday, tied to the value of the British pound sterling. The news follows Tether’s most recent launch of a Mexican peso-pegged crypto asset called MXNT. Tether Launches the Company’s 4th Fiat-Pegged Crypto Asset On June 22, 2022, … Read more
USDC’s ‘real volume’ flips Tether on Ethereum as total supply hits 55.9B
At least on the Ethereum network, USDC real volume has nearly doubled that of USDT in the past 24 hours which could be another sign that the top stablecoin’s dominance is coming to an end. Go to Source Powered by WPeMatico
USDD Continues to Trade for Under $1 — Tron DAO Reserve Insists Stablecoin Has Not Depegged
Since June 12, 2022, the Tron-based stablecoin USDD has remained below a U.S. dollar in value. On Monday, USDD had a 24-hour trading range of around $0.943 to $0.966 per unit and the day prior on June 19, USDD saw an all-time low at $0.928 per unit. Despite being below the U.S. dollar parity, the … Read more
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
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
