Data Nerd Data on December 13 shows that over the past 24 hours, the wallet “0xea8” moved 200 million BUSD from Binance, the world’s leading cryptocurrency exchange by client count. The whale transfer caught the attention of keen crypto users, who also noted that the transfer was soon followed by a deposit of 99.95 million FDUSD, a…
Stablecoins like USDC have become a cornerstone in the cryptocurrency ecosystem, offering unique stability and reliability. This article provides an in-depth exploration of the USDC Coin, offering you a detailed understanding of its functions, market dynamics, and the organization behind it, particularly Circle USDC. As you navigate through this guide, you’ll gain insights into the…
TrueUSD (TUSD), a stablecoin with a market cap exceeding $3.1 billion, appears “shaky” and briefly depegged on November 22, dropping to as low as $0.9976 before restoring its peg. The temporary depeg was attributed to a deluge of selling orders, according to Kaiko, a blockchain analytics firm. TUSD Briefly Depegs, Large Selling Orders Rolling Through…
Global financial firm Circle has announced a strategic partnership with the Japanese financial services SBI Holdings, Inc., to promote the adoption of Circle’s USDC stablecoin and web3 services in Japan. Circle Joins SBI Holdings In A Memorandum Of Understanding According to the announcement, both parties have signed a Memorandum of Understanding (MOU) toward promoting UDSC‘s…
Lookonchain, a blockchain tracking platform, now reveals that one stablecoin holder lost over $100,000 after panic selling USDR, a stablecoin issued on the Polygon network, for zero USDC after it depegged on October 11. The stablecoin holder swapped 131,350 USDR for zero USDC, allowing an MEV bot to swoop in and claim $107,000 in profit. USDR to…
On-chain data reveals that whales and new wallets are scooping more Maker (MKR), which seems to be propping the token, fanning demand. As of September, MKR is one of the top-performing tokens, adding roughly 120% in three months from June 2023 lows. When writing, MKR is changing hands above $1,300 and inching closer to July 2023 highs.…
Amidst the constant price swings and uncertainties that plague the crypto market, stablecoins have become an invaluable asset for investors and traders. However, analysts have revealed several stablecoins that have been struggling to maintain the esteemed stability reserved for these types of assets. Stablecoins Under Pressure The inherent volatility of the crypto market and the…
The trend in the total supply of the stablecoins may have hinted in advance that the Bitcoin rally wouldn’t last too long. Bitcoin Stablecoins Supply Hasn’t Moved Much Recently An analyst in a CryptoQuant Quicktake post explained that the latest news has been unable to make the stablecoins supply budge. The “stablecoins supply” here refers…
Cryptocurrency payments have been increasingly widespread in recent years, with their use spreading to nearly every market. A use case of cryptocurrencies that has seen particular growth is in crypto donations and the Singapore Red Cross has now taken the plunge. Singapore Red Cross Taking Crypto Donations The Singapore Red Cross is the latest to…
The Latin American region faces high costs and challenges of traditional settlements, as people sending money to their close ones have to deal with high rates of transfer, and a portion of the population still remains unbanked. However, in a recent development, the Bahamas payment company, Island Pay, is now incorporating cryptocurrency for remittance transactions…