Once RLUSD is available, Ripple plans to use both RLUSD and XRP in its cross-border payments solution.
Tether’s USDT stablecoin has reached an all-time high market cap of $135 billion, marking its 15th straight month of growth and capturing 70% of the stablecoin market. The global stablecoin market also achieved a record $202 billion, surpassing its previous peak of $188 billion in April 2022. Meanwhile, USDC, issued by Circle, grew 12.1% to …
Major cryptocurrency assets, excluding Bitcoin, usually known as Altcoins, are currently demonstrating strong momentum, rising significantly to pivotal levels in the past few days. While there is the belief that the tokens are surging due to a drop in Bitcoin’s dominance, several seasoned market experts think otherwise. Has The Much-Awaited Altcoin Season Begun? In an insightful prognosis […]
Curve clocked annualized revenues of nearly $37 million during the past 30 days, according to Token Terminal.
By January 2025, Dtcpay will drop support for Bitcoin and Ether to focus on stablecoin payments exclusively.
Tether minted an additional $1 billion USDT on Ethereum and Tron just hours ago, bringing its total USDT issuance to a staggering $16 billion since November 6. The latest mint underscores Tether’s aggressive expansion, reflecting heightened demand for the stablecoin across decentralised ecosystems. This surge in USDT minting aligns with increased crypto market activity, reinforcing …
Brazil, the second-largest market for stablecoin transactions, could be set to ban stablecoin withdrawals to self-custodial wallets like MetaMask.
Crypto is coming to Europe’s popular luxury retail stores. According to reports, Printemps, a popular chain of luxury brands, will start accepting cryptocurrencies for payments. Related Reading: Shiba Inu Christmas Countdown: What Big News Is Coming For The Holidays? The luxury store operator has partnered with Binance Pay and Lyzi to offer its customers an […]
The latest on-chain data shows that the stablecoin market is nearing a new milestone in terms of valuation. Here’s how the increasing liquidity could impact Bitcoin and the general cryptocurrency market. Can The Increasing Stablecoin Cap Push Bitcoin Price To $100,000? Market intelligence platform IntoTheBlock has revealed in its weekly report that the stablecoin market capitalization has experienced notable growth in the past month. According to the crypto firm, the stablecoin market cap surged past $190 billion this week for the first time since late April 2022 when Bitcoin price was hovering around the $40,000 mark. This impressive growth comes on the back of Bitcoin’s unprecedented run to a six-figure valuation and the explosion of the total market capitalization to over $3.4 trillion. IntoTheBlock noted that stablecoins have seen increased adoption in the past few weeks, as investors continue to run toward riskier assets like cryptocurrencies. Related Reading: Ethereum Struggles Below $3,659 Resistance: Is Momentum Fading? Specifically, this expansion has primarily been in favor of Tether’s USDT, which continues to completely dominate the stablecoin market. Data from IntoTheBlock shows that USDT holds about 72% of the market share, with a market capitalization of over $133 billion — reminiscent of the crypto market highs of 2021. Interestingly, the demand for the Tether stablecoin appears to be climbing, with a weekly mint of over $3 billion of new USDT tokens. Most notably, over $13 billion USDT has been minted since the start of November, with the stablecoins largely flowing toward centralized exchanges. This injection of fresh liquidity into centralized exchanges has been reflected in the market, especially with the strong bullish momentum witnessed in the past few weeks. Historically, increasing stablecoin inflows into exchanges is positively correlated with market prices, as they often represent higher “buying power” for the investors. As such, the continuation of this positive trend could be pivotal to the dream of Bitcoin price surpassing $100,000. While the flagship cryptocurrency has seemingly recovered from its recent slump beneath the $93,000 level, it has not exactly shown strength sufficient to surpass the six-figure milestone. As of this writing, the price of Bitcoin continues to hover around the $96,500 mark, reflecting a more than 2% increase in the last 24 hours. According to data from CoinGecko, the premier cryptocurrency is still in the red on the weekly timeframe, with a 3% decline in the past seven days. BTC Market Becoming Stable And Mature: IntoTheBlock IntoTheBlock also disclosed in its weekly report that Bitcoin’s market climate seems to be maturing, as volatility is currently trending downwards. According to the blockchain platform, the market’s high volatility has been a long-standing criticism point for BTC as a store of value. Related Reading: Ethereum Open Interest Sets New Record, Analyst Says Fireworks ‘Guaranteed’ However, IntoTheBlock noted that investors can expect the Bitcoin price performance to be more stable, as retail and institutional adoption increases and volatility diminishes. Hence, the premier cryptocurrency could become an even more reliable store of value. Featured image from iStock, chart from TradingView
Tether has minted an additional $1 billion USDT on the Ethereum blockchain, marking a significant move in stablecoin circulation. This brings Tether’s total minting to $16 billion for November alone, signaling heightened demand for stablecoins across crypto markets. The increase aligns with growing liquidity needs as traders and institutions seek stability amid market volatility. Tether’s …
Token holders can mint deUSD against BUIDL, BlackRock's onchain money fund, and swap on Curve, a popular DEX.
Ethena Labs has officially submitted a proposal to include its upcoming stablecoin, USDtb, in Spark’s liquidity competition.
Some Coinbase users are airing frustration at the region’s MiCA laws, which is forcing the exchange to stop offering yield on USDC in the European Economic Area.
Tether has asked EUR₮ holders to redeem tokens within one year, ending on Nov. 25, 2025, as the company decided to discontinue the stablecoin.
Amidst expectations of a crypto-friendly government after Trump’s victory, the cryptocurrency prices are soaring, and so is the demand for stablecoins. Strikingly, the overall value of the digital-assets market has risen by nearly a trillion dollars since the election. With Bitcoin and SOL reaching newer heights, stablecoin has also joined the record-breaking streak as it …
Tether, issuer of the world’s largest stablecoin, said that it will stop supporting the euro-linked EURT stablecoin as part of a “strategic transition to prioritize community-driven blockchain support.” This decision came amid rising regulatory uncertainty in the EU’s crypto market with the new MiCA rules. Tether Moves Towards Regulated Stablecoin Solutions Tether, a leader in …
Tether said it will phase out its euro stablecoin, EURT. Users will be able to redeem tokens for up until one year from now.Instead, the company will focus on backing new stablecoin ventures such as its recent investment in Quantoz and its tokenization platform Hadron.
As Europe approaches the final enforcement deadline for the Markets in Crypto-Assets Regulation (MiCA) at the end of the year, Schuman Financial, a new cryptocurrency firm, founded by former Binance executives, including Martin Bruncko and Eduardo Morrison has launched a euro-backed stablecoin, EURØP. https://twitter.com/Schuman_io/status/1861349166720389303 EURØP is pegged 1:1 to the euro and aims to cater …
Unraveling Tether’s complex web of financial maneuvers and its impact on the global crypto market.
Expected to launch in the coming weeks, Schuman’s new euro-backed stablecoin labels 107 countries as “high-risk.”
On-chain data shows exchanges have continued to receive stablecoin deposits recently, a sign that could be bullish for Bitcoin and other digital assets. Stablecoin Exchange Netflow Has Remained Positive Recently As pointed out by an analyst in a CryptoQuant Quicktake post, stablecoins have been flowing into exchanges recently. The on-chain metric of relevance here is the “Exchange Netflow,” which keeps track of the net amount of a given asset that’s moving into or out of the wallets associated with centralized platforms. When the value of this metric is positive, it means the investors are making net deposits of the coin to exchanges. Such a trend suggests the holders want to trade the asset away. Related Reading: 54% Of Bitcoin Supply Inactive Since 2 Years Despite 500% Price Jump On the other hand, the indicator being negative implies investors prefer to hold onto the cryptocurrency, as they are taking their tokens off into self-custody. The implication of these trends for the wider sector and the asset itself can be different depending on the exact type of coin that’s witnessing the outflows/inflows. In the case of volatile assets like Bitcoin, a positive Netflow can be bearish for the price, as it means the holders are looking to sell. BTC also acts as one of the main transition points for capital in the sector as a whole, so it being sold can be a bad sign for the rest of the coins as well. Stablecoin deposits also imply traders want to sell them, but since their price always remains stable around the $1 mark, the selling has no ‘bearish’ effect on them. Like Bitcoin, the stablecoins act as a gateway for capital into the sector. More particularly, investors invest their money into the stables whenever they want to avoid the volatility associated with other assets. Such holders usually eventually plan to delve into the volatile coins, and once they are ready, they transfer these fiat-tied tokens into exchanges to make the swap. This naturally acts as buying pressure for whatever asset that they are shifting to. As such, positive stablecoin Exchange Netflows are considered bullish for Bitcoin. Now, here is the chart shared by the quant that shows the recent trend in the Exchange Netflow for the stablecoins: From the graph, it’s visible that the stablecoin exchange netflow has mostly been sitting inside the positive territory for the last few weeks. Alongside these inflows, Bitcoin has been breaking record after record, so it’s likely that these stablecoin deposits have been acting as fuel for the asset. Related Reading: Bitcoin Officially In Overheated MVRV Zone, Rally End Near? The indicator’s value has continued to show strength recently, so it seems the investors aren’t done with their BTC accumulation yet. If the earlier trend continues, the latest stablecoin inflows can elongate the rally and perhaps help the asset to finally break through the $100,000 dream target. Bitcoin Price Bitcoin had seen a plunge under the $96,000 level yesterday, but it appears the coin has already bounced back as its price is now trading around $98,400. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
Cardano founder Charles Hoskinson has threatened legal actions over the blockchain network’s omission from the Wyoming Stablecoin project. In a Nov. 25 video broadcast on social media platform X, Hoskinson accused the Wyoming Stable Token Commission of favoring certain blockchains and ignoring transparency. He noted that his company, Input Output Global (IOG), had served in […]
The post Cardano’s Charles Hoskinson vows legal action over Wyoming stablecoin snub appeared first on CryptoSlate.
According to stablecoin firm Tether, over $134 billion USDt tokens are circulating across various blockchain protocols as of November 2024.
Ripple Labs has taken another big step in preparing its RLUSD stablecoin for launch by minting 10.5 million tokens on the mainnet. This move is part of a series of tests designed to ensure the stablecoin can handle real-world demands before going live. The testing process includes minting, burning, and transferring RLUSD to evaluate its …
Solana (SOL) has recorded a new all-time high (ATH) of $262, marking a historic recovery after three years of tumultuous price action. Notably, the token had once fallen as low as $8 at the peak of the FTX exchange collapse and the ensuing crypto bear market. Solana Makes Historic Recovery, Eyes USDT Flippening Solana (SOL), the much-touted “Ethereum killer,” is again in the spotlight. After dominating the 2020-21 crypto bull market, the digital asset saw its value plummet after FTX’s spectacular collapse, led by Sam Bankman-Fried. However, SOL has staged an impressive comeback over the last two years. Related Reading: $4,000 Solana Price Possible As SOL Breaks Out Of Massive Cup And Handle Pattern At the time of writing, SOL is the fourth-largest cryptocurrency, with a reported market cap of over $123 billion. The layer-1 blockchain’s market cap is just $8 billion shy of overtaking stablecoin Tether’s (USDT) market cap of $130 billion. Notably, SOL needs a further 10% price appreciation to decisively increase USDT’s market cap and become the third-largest digital asset by market cap. SOL will only trail Bitcoin (BTC) and Ethereum (ETH) as the third-largest cryptocurrency. Given the token’s recent price trajectory, it won’t be surprising to see SOL surging past the leading stablecoin’s market cap before the end of the year. In the last three weeks alone, the token has experienced a remarkable 75% surge, rising from $148 on November 4 to $259 at the time of writing. While the broader crypto market has gained momentum following the victory of pro-crypto Republican US presidential candidate Donald Trump, attributing SOL’s rise solely to this would be disingenuous. Memecoin Frenzy, Increased Network Activity, ETF Potential Helped SOL SOL’s remarkable turnaround can be linked to several factors that have spurred increased network adoption. One of the most prominent contributors is the ongoing memecoin frenzy, which has emerged as a dominant narrative in the crypto market. Related Reading: Solana Memecoin Market Thrives: POPCAT Reaches New Record Price Of $1.75 Memecoins – particularly those based on the Solana blockchain – have emerged as the crypto market’s top narrative over the last year. In October alone, the total market cap of Solana-based memecoins surpassed $10 billion. This memecoin craze has also translated into heightened network activity for Solana. Between September and October, Solana saw a 42% month-over-month (MoM) increase in active addresses, amounting to approximately 123 million. Besides benefitting from the memecoin narrative, Solana has also seen increased decentralized finance (DeFi) activity throughout the year. According to DefiLlama data, Solana is home to the second-largest DeFi ecosystem in the world, with a total value locked (TVL) of $9.265 billion. In addition, there are growing prospects for a Solana-based exchange-traded fund (ETF). A recent report indicates that the US Securities and Exchange Commission (SEC) is holding active talks with multiple asset managers regarding the potential launch of a new spot Solana ETF. While SOL’s achievement of a new ATH is impressive, experts believe the token still has significant growth potential. At the time of writing, SOL trades at $259, up 6.2% over the past 24 hours. Featured image from Unsplash, charts from DefiLlama.com and Tradingview.com
The stablecoin market is heating up, but the future remains uncertain. Will one stablecoin dominate, or will multiple players coexist in a diverse ecosystem?
According to Deribit, the exchange will include USDe in its cross-collateral pool as of early January 2025, pending regulatory approval.
The integrations aim to boost global payments and decentralized finance on the Aptos network.
The record monthly stablecoin inflows could put Bitcoin’s price on track to top the record $100,000 mark.
Switzerland’s Financial Market Supervisory Authority (FINMA) has raised concerns about increasing money laundering risks in the crypto sector. The warning, detailed in FINMA’s 2024 Risk Monitor report, highlights the growing misuse of digital assets like cryptocurrencies and stablecoins for illicit activities. The report indicated that stablecoins are increasingly used in illegal transactions, such as sanctions […]
The post Switzerland regulator warns of rising crypto money laundering risks appeared first on CryptoSlate.