MakerDAO’s Governance Token Sees a 37% Decrease in 24H Trading Volume
MakerDAO, the governance token behind the fourth largest stablecoin by market capitalization DAI, has decreased in trading volume by 37% and seen a 3.7% dip in token price over the last 24 hours.
Frax’s Shift to a Fully Backed Stablecoin Signals the End of DeFi’s Algorithmic Experiment
The Frax community recently approved a proposal to make its FEI stablecoin fully backed by USD equivalents, rather than maintaining a partially backed and semi algorithmic stablecoin. With Frax’s decision, the days of experimentation with algorithmic stablecoins could finally be behind us.
Tether’s USDT Stablecoin Market Share Rises to Highest Level in 15 Months
The dominance of Tether’s USDT is rising among stablecoins amid an on-going shake-up of the $136 billion stablecoin market.
Exchanges See Large Stablecoin Inflows, What Does It Mean For Bitcoin
As pointed out by an analyst in a CryptoQuant post, the latest stablecoin deposits are the highest observed this year so far. The relevant indicator here is the “stablecoin exchange netflow,” which measures the net amount of stablecoins that are moving into or out of the wallets of all centralized exchanges. The metric’s value is simply calculated by taking the difference between the inflows and outflows.
Market Cap for Binance Stablecoin BUSD Plummets 43% in 30 Days
On February 13, Paxos Trust, the stablecoin’s operator, announced that it would stop minting the Binance-branded stablecoin BUSD. The move followed more news that the SEC intended to sue Paxos for violating investor protection laws.
Binance USD Stablecoin Market Cap Falls Below $10B After Coinbase Delisting
Binance USD, the Paxos-issued stablecoin under the brand of the world’s largest crypto exchange by trading volume, fell to $9.5 billion market capitalization on Friday, data from CoinGecko shows.
Regulation and Risk: Factors Driving Demand for a Euro-Backed Stablecoin
Stablecoins are a type of cryptocurrency offering investors price stability. The most popular stablecoins are those backed by the United States dollar — the world’s leading reserve currency. Others are less popular and not widely used, so many may not have heard of alternatives if they haven’t searched for them.
FTX Finds Only 1 BTC Out of 1,591 Customer-Owned at Time of Collapse
“Their books and records are incomplete and, in many cases, totally absent,” said current FTX CEO John J. Ray III, during a presentation of the company’s current assets and liabilities on Mar. 2.
BUSD’s Trading Volume Dropped to Lowest Point in February on Coinbase
Binance USD (BUSD) stablecoin trading volume dropped to its lowest point since Coinbase listed it in April 2022.
Visa’s Crypto Strategy Isn’t Going Anywhere After Report Firm Was ‘Slamming the Brakes’
Visa remains committed to its crypto strategy, a company spokesperson told The Block, despite the hammering digital assets have taken in recent months.
