The top stablecoins have continued to see redemptions over the past 30 days as the dollar-pegged crypto economy currently hovers at $127.32 billion on July 12. The stablecoin BUSD’s supply has dropped below the 4 billion mark as the token’s number of coins in circulation has fallen 16.7% over the last month. Dollar-Pegged Cryptos Feel…
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“Issuing a stablecoin pegged to the Hong Kong dollar not only helps to solidify Hong Kong’s leadership in the blockchain sector but also propels the progress of the digital Hong Kong dollar,” said the report. Crypto and blockchain advocates have authored a report calling for the Hong Kong government to issue a stablecoin pegged to…
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In the past ten years, a myriad of digital currencies have emerged alongside bitcoin, forming a cryptocurrency ecosystem now worth $1.2 trillion. Within this realm, enigmatic figures known as crypto whales have played a pivotal role in the distribution, trading, and accumulation of coins across various projects. This study delves into the ten most valuable…
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The top 100 DeFi tokens had another bearish week, with the majority of tokens trading in the red. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. On June 15, an imbalance in Curve Finance’s 3pool…
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Heath Tarbert will serve as the company’s chief legal officer and head of corporate affairs, bringing experience with all three branches of government. Stablecoin issuer Circle has loaded its arsenal to fight the ongoing regulatory crackdown on crypto. By July 1, the role of chief legal officer and head of corporate affairs will be filled…
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Over the past year, Circle’s USD Coin has seen its market share decline from 34.88% to 23.05%. Tether’s USDT shows a contrasting picture. The market dominance of stablecoins pegged to the United States dollar has undergone some changes over the past year. While most of them are in a downward trend, Tether (USDT) has climbed…
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On Thursday, the stablecoin issuer Circle Financial announced that the euro-pegged crypto asset EUROC is expanding natively on the Avalanche (AVAX) blockchain. According to Circle, several decentralized finance (defi) protocols and projects are supporting the new AVAX-issued EUROC asset. Circle’s EUROC Stablecoin Finds New Home on Avalanche Blockchain About 11 months ago, Circle launched the…
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The new protocol burns coins on the sending chain, and mints new ones on the receiving chain. Circle, the creator of US Dollar Coin (USDC), has launched a mainnet protocol that lets users transfer USDC between Ethereum and Avalanche, according to an April 26 announcement. Previously, Avalanche users who held USDC on Ethereum had to…
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The market capitalization of Tether is nearly a billion dollar away from reaching a new lifetime peak while rival stablecoins struggle. Tether (USDT) has emerged as a clear winner amid the ongoing banking crisis and crypto crackdown in the U.S. On April 17, the U.S. dollar-pegged stablecoin’s circulating market valuation reached nearly $81 billion, just…
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A principal economist of the European Commission shares his views on stablecoins and the future of regulations in Europe. In October 2022, the European Union finalized the text of its regulatory framework called Markets in Crypto-Assets or MiCA. The final vote on the new regulation is scheduled for April 19, 2023, meaning the days of…
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