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Stablecoin Economy Sheds Another $3 Billion in 44 Days
28.1.2023
The stablecoin economy continues to deplete as more than $3 billion has been erased from the stablecoin market ecosystem over the last 44 days. While statistics show that tether’s market valuation has risen by 2% over the last 30 days, usd coin’s market cap slid by 2.9%, BUSD...
The Stablecoin Economy Shed $28 Billion in 2022 After a Handful of Tokens Lost Their $1 Peg
28.12.2022
2022 has been an interesting year for stablecoin assets as the market capitalization of the entire stablecoin economy lost just over $28 billion in value. Moreover, more than $3 billion has been erased from the stablecoin economy during the last 23 days as BUSD shed roughly 23.3% during the last...
Argentina’s province to issue US dollar-pegged stablecoin
16.12.2022
The bill also authorizes local artists to issue nonfungible tokens (NFT) to promote financial and cultural inclusion
Stablecoin BUSD’s Supply Shrunk by 3.24 Billion in 3 Days, Market Cap Is Down 20% Since Last Month
16.12.2022
While billions of dollars in crypto assets have been withdrawn from Binance, the world’s largest exchange in terms of volume, the stablecoin BUSD has seen its coins in circulation drop considerably during the last three days. While 20% of BUSD’s supply was drained since last month...
Argentine Province of San Luis to Issue Dollar-Pegged Stablecoin and Local Art NFTs
16.12.2022
San Luis, a province of Argentina, has approved a bill allowing it to issue a blockchain-based, dollar-pegged stablecoin. The bill, which also approves the issuance of local artistic assets as NFTs (non-fungible tokens) seeks to enable the promotion of social development, and economic, cultural...
Stablecoin Economy Continues to Shrink Shedding Close to 5% in 2 Months
28.11.2022
During the last month, the market capitalization of all the stablecoins in existence dropped by more than 2%, shedding roughly $2.98 billion since the end of October. Statistics show that tether, the largest stablecoin by market valuation, saw its market cap lose more than 5% during the last...
Terra’s $2.8B Defense System — Luna Foundation Guard Audit Says Group Spent More Than 80,000 Bitcoin Defending UST Peg
16.11.2022
Months after the collapse of Terra’s U.S. dollar-pegged token UST, the organization created to protect the once-stable coin, the Luna Foundation Guard (LFG), published an audit report audited by the New York-based consultancy company JS Held. According to the report, LFG claims to have spent...
Stablecoin GUSD’s Supply Jumps Close to 130% Higher in 30 Days
7.11.2022
While the stablecoin economy has seen fluctuations from specific stablecoin tokens either increasing the project’s number of tokens in circulation or decreasing the supply, the stablecoin GUSD issued by Gemini has increased by 129.5% during the last 30 days. GUSD Sees Supply Balloon...
Stablecoin Blues: $3 Billion Erased From the Dollar-Pegged Token Economy, HUSD Depegs, USDC Supply Drops 10%
3.11.2022
Over three billion in value was erased from the stablecoin economy during the past 30 days. The trend occurred despite the number of tethers in circulation rising by 2.2% last month. On Oct. 1, 2022, tether’s market capitalization was approximately $67.95 billion, and it’s risen...
Chainalysis: Stablecoins Used to Fight Devaluation and Inflation in Latam
24.10.2022
According to Chainalysis, a crypto auditing and blockchain tracking firm, the use of dollar-pegged stablecoins is growing in Latam, specifically in Argentina and Venezuela, due to the common economic problems that both countries are facing. 34% of the “small” transactions include...
Tether and Smartpay to Offer USDT at More Than 24,000 ATMs in Brazil
22.10.2022
Tether, the company behind the issuance of usdt, the biggest dollar-pegged stablecoin in the cryptocurrency market, has announced its stablecoin will be available at more than 24,000 ATMs in Brazil. Smartpay, a cryptocurrency systems provider, integrated its technology stack with Tecban, an...
Stablecoin Issuer Tether Fulfills Promise by Reducing Commercial Paper Holdings Down to Zero
14.10.2022
On October 13, 2022, Tether Holdings Limited announced that the stablecoin issuer has reduced the company’s commercial paper holdings down to zero. The company has said it would reach this goal for a while now, and Tether says that shrinking commercial paper holdings down to zero...
Tether CTO Says US Treasury Notes Account for More Than 58% of USDT’s Reserves
3.10.2022
On Monday, the chief technology officer of Tether Holdings Limited, Paolo Ardoino, explained that U.S. Treasury bills represent more than 58% of the company’s reserves. The announcement follows Tether hiring the accounting firm BDO Italia and the stablecoin issuer’s quarterly...
Circle CEO, Paxos, and Trueusd Speak on Binance’s Stablecoin Auto-Conversion Decision
7.9.2022
On September 5, Binance explained that it planned to drop a number of usdc trading pairs and auto-convert specific stablecoin balances into busd by September 29. While the move was controversial among crypto proponents on social media, Circle Financial CEO Jeremy Allaire explained that the change...
Stablecoin USDN Trades Below $1 Parity for 14 Days in a Row, Token Taps $0.91 Low This Week
6.9.2022
Approximately 14 days ago, the stablecoin neutrino usd (USDN) tapped a high of $0.994 per unit, and ever since then, USDN has not been able to rise above the $0.97 per unit range. The dollar-pegged asset is associated with the Waves blockchain protocol, and recently the Neutrino Protocol decided...
Binance to Drop USDC Trading Pairs, Plans to Auto-Convert Specific Stablecoin Balances to BUSD
6.9.2022
The world’s largest cryptocurrency trading platform by trade volume, Binance, issued a notice on Monday explaining that the exchange will be removing the stablecoin USDC from the platform’s spot trading pairs list. Binance further details that users holding three types of stablecoins...
Tether Hires BDO Italia for Monthly Assurance Reports, USDT’s Quarterly Attestation Shows a 58% Decrease in Commercial Paper
20.8.2022
This week, the stablecoin issuer Tether Holdings Limited revealed an update to its assurance and attestation process and detailed that the company has been working with accounting firm BDO Italia. The accounting firm will conduct monthly tether assurance reports based on the stablecoin...
Another Stablecoin Depegs From USD Parity, Polkadot-Based AUSD Loses 98% in Value
14.8.2022
2022 has been the year of broken stablecoins as a myriad of dollar-pegged crypto assets depegged from their dollar value this year. On August 14, the Polkadot-based stablecoin alpaca usd (AUSD) dropped below a U.S. penny in value, only to bounce back to the $0.95 region hours later. Reports...
Crypto Exchange Bitso Launches Remittance Service in Colombia
11.7.2022
Bitso, a Mexican-based, Latam operating cryptocurrency exchange, announced it is launching a remittance service in Colombia. The company will now allow its customers in Colombia to send and receive remittances using dollar-pegged stablecoins on the platform. The exchange launched a similar service...
USDD Continues to Trade for Under $1 — Tron DAO Reserve Insists Stablecoin Has Not Depegged
21.6.2022
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,...