On April 3, 2023, at Ethereum block height 16,964,664, a group of MEV (Maximal Extractable Value) bots were exploited for $25.3 million. An analysis of the exploit revealed that a renegade validator switched the MEV bots’ transactions and seized various crypto tokens, such as 7,460 wrapped ether and 64 wrapped bitcoin. While the Mechanisms Behind…
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On Monday, April 3, the decentralized exchange (dex) platform Pancakeswap launched version 3 of its protocol (v3) on the Binance Coin (bnb) and Ethereum blockchains. The new application aims to improve the performance of the dex protocol and reduce fees by implementing four levels of trading fees. New Features and Improved Capital Efficiency Offered in…
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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 stablecoins increased by 218%. TUSD Supply Swells, Tron-Issued Stablecoins…
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According to the token protocol startup Noble, the second-largest stablecoin, USDC, will be integrated into the Cosmos blockchain, as the company has partnered with Circle Financial for the rollout. Noble details that the integration will give access to Circle’s USDC stablecoin to more than 50 Inter-Blockchain Communication (IBC) networks. USDC Native Support Is Coming to…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: USDC Released on Stellar Throughout Coinme, THORChain Halts & Resumes Network, EOS EVM Testnet Goes Live, OKX to Apply for Hong Kong License Read more »Sign up for…
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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 and 351.57 million BUSD have been redeemed.…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Coinbase Halts Support for Signature Bank’s Signet, MetaMask & MoonPay Expand Partnership in Nigeria, India to Hit 156M Crypto Users This Year, Xapo Bank Integrates USDC Payment Rails…
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Bitcoin reached a high of $28,422 per unit on Sunday at around 3 p.m. Eastern Time as the leading cryptocurrency has continued to rise during the last week. Since last Sunday, bitcoin has increased in value by 37.9% against the U.S. dollar, and the cryptocurrency’s overall market capitalization has swelled to $546 billion. Global Cryptocurrency…
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Amidst the chaos of last weekend’s banking collapses and a major stablecoin depegging, investors found solace in a surprising asset class: tokenized diamonds. As market volatility peaked, reports from CoinDesk show that sales in digitized diamonds skyrocketed by 300%, with Diamond Standard’s marketplace leading the charge. Founder and CEO Cormac Kinney confirms that the surge…
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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 Depegging Event Triggers Billions in Redemptions The stablecoin landscape…
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