Are stablecoins in the sights of U.S. regulators? The decline of Terra Luna and it’s UST (and correlating LUNA) token earlier this year brought along plenty of fanfare. It’s full damage and implications, however, have clearly yet to be established; a new draft of a U.S. House bill is proposing a two-year ban on stablecoins…
Robinhood hasn’t been shy about it’s desire to be a player in crypto. The platform has had a few years of ups and downs as it’s navigated it’s crypto offerings. This week, however, the platform secured a win on the crypto front by listing it’s first stablecoin, USDC. What We Know The news first came…
Following the collapse of Terra and its ecosystem, there is a considerable reduction of confidence in stablecoins, especially Tether. Most participants in the crypto space have increased doubts about the level of stability with stablecoins. While many are treading more caution on most projects, some have made a complete back-out. That’s why the pressure has…
On-chain data shows the USDC exchange reserves sharply rose recently, something that could help push Bitcoin back up after the latest drop. USDC Exchange Reserve Observes Sharp Rise In Recent Days As pointed out by an analyst in a CryptoQuant post, the large amount of USD Coin that flowed into exchanges recently could be deployed…
Is the Lightning Network bitcoin’s killer app? It might be, but it still has a long road ahead. One of the stops on that road is the possible inclusion of stablecoins. Does bitcoin need them? Aren’t there inherent counterparty risks with those? The debate over those questions rages on. And in their latest post, The…
The total supply of stablecoins decreased globally by 18.8% at the end of the second quarter of 2022 as the equities markets and risky assets experience volatile times due to rising inflation and other macro reasons. Stabelcoins Supply Falls In The Second Quarter Digital tokens called stablecoins are anchored to fiat money like the dollar.…
USD Coin price is currently trading at $0.999137, down 0.2 percent in the last seven days, data from Coingecko show, Saturday. USDC hit its all-time high three years ago or on May 8, 2019, at $1.17. The coin registered its all-time low last year on May 19, 2021, at $0.891848. It has a total of…
The recovery plan for Terraform Labs’ stablecoin TerraUSD (UST) and its native token Terra (LUNA) embarked on a bumpy route after the LUNA 2.0 cryptocurrency suffered a substantial market fall hours after its launch. TerraForm Labs successfully delivered new LUNA coins to market participants holding LUNA Classic (LUNAC) and TerraUSD (UST). According to data from…
The crypto bloodbath continues to rage on, as bitcoin drops 13%, although to a lesser degree than what was experienced last week. Due to this, there have been several migration patterns recorded in crypto investors as they look for the best safe haven. The first had been the flight to stablecoins for cover from the…
The whole UST debacle has seen traders emboldened in the market against stablecoins. The result of this had been more investors going after the pegs of other stablecoins such as USDT and trying to see if they can destabilize the coin. Most prominent of this had been Tether USD, whose peg saw the most opposition…