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Over 680,000 Ethereum Added to Liquid Staking Protocols in Just 28 Days
26.8.2023
In less than a month, despite a downturn in cryptocurrency markets, over 680,000 ethereum (ETH) has been added to liquid staking derivatives protocols. Lido Finance, the leading liquid staking platform, experienced a supply increase of 5.94%, surging from 7.91 million to 8.38 million ETH since July...
GHO and FDUSD Stablecoins See Massive Supply Growth in Recent Debut
3.8.2023
In a recent turn of events, the cryptocurrency world has been introduced to two stablecoins anchored to the U.S. dollar — Aave’s gho (GHO) and First Digital’s stablecoin FDUSD. These dollar-tied tokens have rapidly gained momentum, witnessing substantial growth in market...
Aave Launches GHO Stablecoin on Ethereum Network
17.7.2023
Aave, a prominent lending protocol within the decentralized finance (defi) sphere, has unveiled GHO, a new stablecoin, which is now live on the Ethereum network. Aave users can now mint the stablecoin asset by leveraging Aave version three (v3). Aave’s Dollar-Pegged GHO Token Goes Live...
Ethereum’s Fiery Path: $6.6 Billion Ether Burned Since the London Hard Fork
16.7.2023
Drawing upon recent data, the Ethereum network has incinerated close to 3.46 million ether, translating to a staggering $6.68 billion in value burned since the London hard fork’s implementation on August 5, 2023. Taking into account the 710-day period that followed, the Ethereum network...
DAI Emerges as Third-Largest Stablecoin, Overtaking BUSD in Market Capitalization
17.6.2023
Makerdao’s DAI stablecoin is now the third-largest stablecoin by market capitalization, surpassing Binance USD (BUSD), which has officially declined to $4.304 billion. DAI’s market valuation on Friday, June 16, 2023, is approximately $4.394 billion, but the number of circulating...
Tether Surpasses Previous Market Cap Record, Reaching $83.23 Billion
1.6.2023
On June 1, 2023, the stablecoin issuer Tether exceeded the dollar-linked token USDT’s previous all-time market capitalization record of $83.2 billion, which was set in May 2022. In the last 186 days, USDT’s market value has surged by 27.15% from the low of $65.43 billion reached...
FTX Finds $7.3 Billion in Liquid Assets; Lawyers Consider Rebooting Shuttered Crypto Exchange
13.4.2023
FTX debtors revealed during a hearing on April 12th that the restructuring team has collected $7.3 billion in liquid assets. The exchange is currently considering a relaunch, according to a lawyer representing the defunct cryptocurrency exchange. Following the announcement, the exchange’s...
AI-Focused Cryptogpt Raises $10 Million in Series A Funding to Expand Into Asian Markets
11.4.2023
A Layer two (L2) project, called Cryptogpt, which leverages ZK-rollup technology and artificial intelligence (AI), has announced that its team has raised $10 million in capital from a Series A funding round. The crypto and AI firm disclosed that the new funds would be used to expand into...
BLUR Token Plummets Over 28% in March, Despite Blur’s Dominance in NFT Sales Market
3.4.2023
While the non-fungible token marketplace Blur has captured a significant amount of the market share in terms of NFT sales, the market’s native token, BLUR, lost more than 28% in value last month. At present, BLUR tokens are down more than 88% since the crypto asset’s all-time high...
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...
Binance Converts $1 Billion BUSD Into Bitcoin, BNB, and Ethereum
13.3.2023
On Monday, Binance CEO Changpeng Zhao, also known as CZ, announced that the company had decided to convert $1 billion worth of BUSD from the Industry Recovery Initiative fund into three different cryptocurrencies. Zhao noted that significant onchain movements would be noticeable following...
Coinbase to Suspend Trading of BUSD Amid Regulatory Crackdown
28.2.2023
Cryptocurrency exchange Coinbase announced it will suspend trading and delist the Paxos-managed stablecoin asset BUSD. The decision follows Paxos’ revelation that the New York State Department of Financial Services directed the firm to stop issuing the U.S. dollar-pegged token BUSD. Coinbase...
TUSD Leverages Chainlink Proof of Reserve for Real-Time Verification of Stablecoin Minting
23.2.2023
On Wednesday, the stablecoin project Trueusd announced that it is leveraging Chainlink Proof of Reserve (POR) technology to provide real-time verification for the minting of trueusd tokens. The trueusd crypto asset has a circulating supply of over 968 million tokens and is the sixth-largest...
Ethereum’s Transition to Proof-of-Stake Yields Deflationary Results
20.2.2023
After the transition from proof-of-work (PoW) to proof-of-stake (PoS), Ethereum’s annual issuance rate has been reduced to negative 0.057%, according to statistics 158 days after The Merge. The metrics indicate that more ethereum tokens have been removed than issued, and if the chain were...
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...
Stablecoin Market Sees Supply Increase for Tether as Competitors Decline in Light of Recent Regulatory Developments
14.2.2023
While the stablecoin market has seen significant redemptions in the past three months, the supply of tether, the largest stablecoin by market capitalization, has increased by 2.46 billion since mid-November 2022. Tether is the only one of the top five stablecoins by market valuation that has seen...
Paxos Receives Wells Notice from SEC, NYDFS Orders Issuer to Stop Minting BUSD
13.2.2023
According to a report published on Feb. 12, 2023, the New York-based financial institution and technology company, Paxos, has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) regarding alleged violations of investor protection laws. Paxos revealed the following...
Following APT’s 400% Rise Since Late December, Aptos Drops 20% From All-Time High
1.2.2023
On Jan. 26, 2023, the cryptocurrency asset aptos (APT) reached an all-time high and then lost 20% of its value over the next five days. In the past 24 hours, it also shed 8.3% against the U.S. dollar. Despite the decline from its all-time high, APT is still up 349% compared to last month’s...
Wrapped Bitcoin Project Sees 18% Redemption of Circulating Supply in 54 Days
20.1.2023
Statistics show over the course of 54 days, the number of wrapped bitcoin (WBTC) hosted on the Ethereum network has decreased by 40,156. This equates to a more than 18% redemption of the circulating supply of WBTC since Nov. 27, 2022. WBTC Remains Largest Operation in Terms of Bitcoin Custody...
BONK Meme Coin Sees Wild Price Fluctuations and Massive Holder Concentration
6.1.2023
After the all-time cryptocurrency price highs in 2021, suffering through the Luna implosion of 2022 and watching countless crypto businesses go belly up, we’ve got a new entrant to the meme coin scene that launched on the Solana network. The crypto asset bonk inu (BONK) has a circulating...