Stablecoins, central bank digital currencies and the new rails of digital cash.
David Schwartz, Ripple’s Chief Technology Officer, has offered clarification regarding the timeline for the launch of Ripple’s stablecoin. Contrary to speculation suggesting a June launch, Schwartz clarified that the stablecoin’s release is not scheduled for June. Instead, he indicated that updates, including the unveiling of the stablecoin’s name, are anticipated to be announced in June. … Read more
According to recent findings by Visa and data platform Allium Labs, less than 10% of stablecoin transaction volumes are deemed organic or originating from genuine individuals. Out of approximately $2.2 trillion in total transactions recorded in April, only around $149 billion were attributed to “organic payments activity” after filtering out transactions conducted by bots and … Read more
Recent research found that in the last six months, Telegram-linked Toncoin [TON] has the fastest network growth among the top cryptocurrencies on the market. The number of users on TON doubles According to Santiment’s analysis, the number of non-zero wallets on the network increased to 16.8k during the previously indicated timeframe, more than double. By … Read more
The global trading event, with a “unprecedented prize pool” of millions in USDT, was launched on Friday, according to cryptocurrency exchange BTCC. With cryptocurrency licenses in the US, Canada, and Europe, BTCC is one of the industry’s pioneering exchanges, having been founded in June 2011. The exchange’s most recent advertisement highlights its goal of improving … Read more
The largest stablecoin in the world, Tether, announced that it has partnered with Chainalysis, a blockchain data platform, to track secondary market activity and thwart illegal activities. Tether, the company that issues the cryptocurrency “USDT,” which is based on the US dollar, announced in an announcement that it is introducing new Chainalysis monitoring and analysis … Read more
The decentralized finance (DeFi) protocol Pike has clarified its previous statement regarding a vulnerability found in USDC Coin (USDC). The explanation follows the April 30 $1.6 million exploit on the platform. On May 1, Pike made a notice indicating that the attack was connected to a weakness on USDC and that USDC’s product offerings had … Read more
In April, stablecoins broke with the general market downturn and went on a seven-month run of gains. According to the CCData research, the industry grew by 4.76%, increasing its market capitalization to $158 billion. Stablecoins have gained $27.1 billion year-to-date (YTD). Stablecoin market domination increased to 6.30% from 5.43% in March as a result of … Read more
Because DUSD is almost solely utilized as a trading pair on Binance, it has grown to become the fourth-largest stablecoin by market capitalization. In spite of this, the stablecoin’s dearth of further use cases has kept it comparatively unknown. But that could soon change. The Hong Kong-based stablecoin issuer has big hopes for its stablecoin’s … Read more
This past weekend, on the CoinPoker website, celebrity poker player Antanas “Tony G” Guoga defeated an anonymous whale in a high-stakes 1000/2000 game to win a sum slightly over $300,000. The game was played as a part of the 41 tournaments that make up the Crypto Series of Poker (CSOP), which is offering $1 million … Read more
According to Reuters, PDVSA is attempting to increase the amount of USDT it uses as a hedge against having its foreign bank accounts seized. The biggest stablecoin based on the US dollar is called Tether. According to Reuters, PDVSA obfuscates the on-chain trace by exchanging cryptocurrency through middlemen. As a means of avoiding the dollar, … Read more