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Bitcoin Mining Difficulty Dips 2.65%; Network Clocks Modest Uptick in Hash Price
6.9.2023
On Tuesday, September 5, 2023, Bitcoin’s mining difficulty experienced a 2.65% dip at block height 806,400, offering a slight reprieve for miners. This marks the first decline since July 26, when a 2.94% slide was recorded at block height 802,368. Bitcoin Miners See Relief With 2.65%...
Casascius Bitcoin Peels: $10M Cashed in 2023, Yet a $1 Billion Stash Remains Unclaimed
4.9.2023
While bitcoin (BTC) is already a limited asset, Mike Caldwell’s Casascius physical bitcoins take rarity to a whole new level. Between 2011 and 2013, he endowed over 27,000 coins and bars with nearly 100,000 BTC. As we step into September 2023, a limited supply of 19,082 Casascius physical...
Coinbase Acquires Equity Stake in Circle; Companies Reshape USDC’s Future
22.8.2023
In a joint statement, Jeremy Allaire, CEO of Circle, and Brian Armstrong, CEO of Coinbase, announced the dissolution of the Centre Consortium. Consequently, Circle will take exclusive charge of the issuance and governance of USDC. Additionally, Coinbase has acquired an equity stake in Circle while...
Top 10 Stablecoins Witness Massive Supply Reductions, Yet Dominate 61% of Global Trade Volume
18.8.2023
For the first time in months, the entire list of top ten stablecoin assets has experienced supply shrinkage in the last 30 days. The stablecoin market now stands at $124 billion, following notable reductions across several projects. Yet, stablecoins still dominate in terms of global trade volume...
Rebase Tokens: A Stunning Collapse From $8 Billion to $351 Million in 20 Months
12.8.2023
The crypto winter inflicted a brutal toll on the digital currency landscape, leaving numerous coins with values utterly obliterated. Within this ravaged financial terrain, one specific category — rebase tokens — suffered a tremendous deflation in worth over the previous 20 months. In a stark...
A Comprehensive Look at the New Paypal Stablecoin, Its Control Dynamics, and ‘Freeze’ Option Trending on Social Media
8.8.2023
At the time of writing, the official Paypal stablecoin PYUSD smart contract has been unveiled, and as it stands, the maximum aggregate supply amounts to 26,905,005.66 PYUSD. In spite of the existence of more than 26 million Paypal stablecoins, the contract continues to retain a substantial 92.91%...
Navigating the Wrapped Bitcoin Landscape: 86,000 WBTC Exit Circulation in One Year
29.7.2023
Data reveals that since the start of the year, the count of circulating wrapped bitcoins (WBTC) has diminished, plunging by more than 22,000 WBTC. Notably, a year-long assessment reflects an even more significant contraction, with over 86,000 WBTC evaporating from circulation since last July....
Scarce Open Market Supply of Top Two Gold Tokens as Concentration Levels Run High Among Top Holders
18.7.2023
Over the last six months, the value of an ounce of gold has witnessed a 3.8% surge in relation to the U.S. dollar. Within the realm of cryptocurrencies, there exist two noteworthy tokens backed by gold: pax gold (PAXG) and tether gold (XAUT). Together, these tokens amass a considerable worth...
Stablecoin Economy Reaches 20-Month Low as BUSD Redemptions Surpass 10 Billion Tokens in 3 Months
31.5.2023
Three months have passed since Paxos made the decision to cease the production of new BUSD tokens, complying with the directive issued by the New York Department of Financial Services (NYDFS). Since February 13, 2023, 10.62 billion BUSD tokens have been redeemed thus far. Within the span of...
New ‘Pepe the Frog’ Crypto Token Becomes Sixth Largest Meme Coin by Market Cap
20.4.2023
A new token named after Pepe the Frog, the infamous meme, and cartoon character created by Matt Furie, has entered the meme coin economy. The token is called Pepe (PEPE), and at the time of writing, it has become the sixth-largest meme coin asset in terms of market capitalization, valued at just...
With Close to 10 Billion Stablecoins Redeemed, BUSD’s Supply Drops to Lowest Level Since April 2021
16.4.2023
Statistics recorded on April 15, 2023, show that the number of coins in circulation for the stablecoin BUSD dropped below the 7 billion range to 6.68 billion, marking the lowest number of BUSD in circulation since April 2021. Furthermore, data indicates that the supply of BUSD has shrunk by 19.8%...
Stablecoin Supply Shift: TUSD Jumps 110% While Others Experience Reductions
30.3.2023
Four stablecoins have reduced their supplies this month, while the stablecoin token TrueUSD (TUSD) has seen its supply jump 110% higher over the last 30 days. TUSD resides natively on four different blockchains. The number of Ethereum-based TUSD rose 27%, while the number of Tron-based TUSD...
Bitcoin Halving Approaches: Less Than 400 Days Until Block Reward Subsidy Is Cut in Half
29.3.2023
According to current statistics, the Bitcoin network is fewer than 56,000 blocks away and less than 400 days away from the next reward halving. After the next halving, the block reward will be reduced by 50%, and the current block subsidy of 6.25 bitcoins will drop to 3.125 bitcoins per block...
Number of Irretrievably Lost BTC Now 6 Million — Cane Island Manager
27.3.2023
The number of irretrievably lost bitcoins has now reached 6 million, which leaves 13.3 million as coins that remain in circulation, Timothy Peterson of Cane Island Alternative Advisors has said. Peterson added that out of the 1.7 million bitcoins that will be mined in the next 100 years or more...
Stablecoin Market Sees Fluctuations With Some Coins Gaining and Others Reducing Supply
26.3.2023
According to statistics, on March 26, the stablecoin economy was valued at $135 billion, with the top stablecoins representing $31.8 billion or 75% of the $42.17 billion in 24-hour global trade volume across the entire crypto market. In the last two weeks since March 11, 7.06 billion USDC...
Arbitrum Airdrop Goes Live: ARB Price Drops More Than 85%
23.3.2023
On Thursday, the Arbitrum airdrop claiming process went live and ARB markets dropped more than 85% lower than pre-IOU market prices recorded the day before. Arbitrum airdropped just over a billion ARB tokens, or 11.6% of the total supply. At noon ET, more than 474 million tokens had been claimed....
Stablecoin Supply Plummets After Depegging Event: $7.4B Dollar-Pegged Tokens Withdrawn From Circulation
17.3.2023
During the past 11 days, over 7 billion USDC stablecoins have been withdrawn from circulation, with most of the redemptions occurring following the depegging event of USDC on March 11, 2023. Furthermore, since March 6, a total of 439.48 million BUSD stablecoins have been redeemed. Stablecoin...
5 High-Profile Cryptocurrency Implosions Shatter Trust, Wipe out Billions in Value During 2022’s Crypto Winter
26.2.2023
2022 was a year of phenomenal cryptocurrency blowouts, as several projects collapsed and many more are on life support after the entire ecosystem was shattered. The fallout from these digital currency projects has not only removed billions of dollars in value from the crypto economy, but also...
BUSD Stablecoin Drops from Top 10 Crypto Assets Amid Significant Decrease in Dominance
25.2.2023
After Paxos announced that it would no longer mint the stablecoin BUSD, 4.98 billion BUSD stablecoins have been removed from circulation to date. The Paxos-managed stablecoin has also fallen out of the top ten crypto assets by market capitalization, slipping below dogecoin’s valuation with...
Nearly 3 Billion BUSD Stablecoins Have Been Removed From the Market in 6 Days
20.2.2023
Six days ago, a few hours before the blockchain infrastructure platform Paxos announced it would no longer mint BUSD stablecoins, $2.86 billion worth of BUSD were redeemed. Currently, Binance is the most active exchange trading BUSD tokens, and the stablecoin still commands roughly 10.7% of...