Tron (TRX) has long been the butt of jokes and insults from much of the crypto sector, stretching back to 2019 (and even earlier) and continuing to the present day. Yet in the past year or so, it has become an increasingly hard-to-ignore Ethereum (ETH) rival, exemplified by the fact that the supply of tether…
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During the last month, the stablecoin economy’s market valuation dropped from $155.23 billion to $153.34 billion on July 20, sliding roughly 1.21%. The top two stablecoins by valuation, tether and usd coin, have seen their market caps slide over the last 30 days, while BUSD and DAI have seen increases. Stablecoin Markets Lose Close to…
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A Chinese tech worker who refused to be paid in tether (USDT) and insisted on receiving fiat yuan has won his case against his former employers. Per the Workers’ Daily, a branch of the People’s Court in the Chaoyang District of Beijing heard a civil case involving a now-defunct IT company and a former contract…
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Citizens of Argentina are hedging their savings by using stablecoins amidst the recent climate of uncertainty created by the resignation of certain key members of the government. The minister of economy in the country resigned last weekend, alongside other personalities, creating the turmoil that prompted the price of stablecoins in the country to rise by…
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The USDT-to-USDC market cap ratio fell to its lowest ever in July 2022. The growth of Circle’s native stablecoin USD Coin (USDC) in the last two months compared to its $66-billion rival giant Tether (USDT) is nothing short of spectacular. USDT, USDC market cap ratio hits the lowest on record Notably, USDC’s market capitalization has…
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Residents of Argentina rushed to bid up the price of the popular stablecoin tether (USDT) in local fiat terms over the weekend after news broke that the country’s minister for the Economy had resigned. According to data from CriptoYa, a data provider that tracks crypto prices from Latin American exchanges and peer-to-peer markets, the price…
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Circle, the US-based payments company that issues the stablecoin USD coin (USDC), has denied that it is facing any sort of difficulty in maintaining the coin’s US dollar peg. Meanwhile, the supply of tether (USDT) coins on one of the most used stablecoin liquidity pools remains elevated…. Read More: Circle Denies USDC Trouble Rumors, Tether…
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In a recent interview, Sam Bankman-Fried, the founder of the popular exchange FTX, warned that some crypto exchanges are “secretly insolvent” and may soon fail. Bankman-Fried’s FTX and Alameda Research have already helped Blockfi and Voyager Digital as the 30-year-old billionaire says sometimes you have to do “what it takes to sort of stabilize things…
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During the past 30 days, $285 billion has left the crypto economy and bitcoin’s USD value hit a 2022 low at $17,593 per unit on June 18. Moreover, last month’s statistics show bitcoin’s market dominance was 2.9% higher and ethereum’s market dominance was 2.1% higher than it is today. Bitcoin and Ethereum Dominance Has Dropped…
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Tether, the company behind the largest stablecoin by market capitalization, has announced another fiat-pegged stablecoin called GBPT on Wednesday, tied to the value of the British pound sterling. The news follows Tether’s most recent launch of a Mexican peso-pegged crypto asset called MXNT. Tether Launches the Company’s 4th Fiat-Pegged Crypto Asset On June 22, 2022,…
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