While USDT continued to dominate the Tron network in 2024, there was a notable rise in decentralized trading and meme coin generation. TRX, the network’s native currency, as well as WTRX, its wrapped version, experienced significant adoption due to decentralized finance (DeFi) activity. This was particularly seen on the Tron-based decentralized exchange (DEX), SunSwap, which...Read More
USDC issuer Circle has reported that the stablecoin’s circulation increased by 78% in 2024. The uptick made USDC the fastest-growing fiat-pegged crypto asset by market capitalization in the last 12 months. Regulatory Compliance According to the report, the supply of USDC went from a low of $24.4 billion in early 2024 to $43.9 billion by...Read More
US fintech firm Ripple and blockchain oracle provider Chainlink have partnered to accelerate the adoption of the cross-border payments firm’s stablecoin, Ripple USD. “Ripple has adopted the Chainlink standard to access highly secure and reliable pricing data around the recently launched Ripple USD (RLUSD) stablecoin,” stated Chainlink on Jan. 7. Ripple describes its new stablecoin...Read More
Ripple’s RLUSD stablecoin is rapidly gaining traction in the European crypto landscape. The MiCA-compliant token has greatly benefited from the strategic launch at a time when the bloc is undergoing a significant regulatory shift. RLUSD Finds Opportunity in USDT’s European Decline According to CryptoQuant’s analysis, RLUSD has already processed 33,953 transactions on the XRP Ledger...Read More
Stablecoins have experienced tremendous growth last year. Their collective market cap recently hit a milestone of $200 billion. Beyond the popular ones such as Tether’s USDT and Circle’s USDC, industry players now predict a new wave incoming for “revenue-sharing” stablecoins. 2025 Will Be the Year of Revenue-Sharing Stablecoins According to Delphi Digital’s Research Associate, Robbie...Read More
Circle’s USDC has experienced a significant resurgence as its total circulating supply surged by 80% from its 2023 lows. As revealed by Blockwork’s data analytics manager Dan Smith, the stablecoin’s supply has reached nearly $44 billion as of January 2, 2025. The latest figure represents a stark increase from its 2023 low of less than...Read More
According to CryptoQuant’s latest data, Binance has reached a new milestone in its stablecoin reserves as it hit an all-time high of $31 billion recently. This marks a significant recovery and growth, as the reserves stood at just $7 billion in June 2023. Therefore, the latest figure reflects a nearly fivefold increase over six months....Read More
In 2024, euro-backed stablecoins emerged as a critical driver of growth in the European cryptocurrency market, bolstered by the implementation of the Markets in Crypto-Assets Regulation (MiCA). In fact, these tokens have notched a new record in terms of monthly volumes after attracting liquidity and institutional players across the region. MiCA Spurs Euro-Backed Stablecoin Adoption...Read More
Bitcoin’s (BTC) climb to record levels has lifted the crypto market, and as the year wraps up, it’s sparking strong bullish sentiment for the future. In the backdrop, there has been a significant surge in Tether (USDT) inflows to exchanges. This stablecoin movement aligns with the ongoing crypto bull rally, which has been underway for...Read More
Ethena Labs officially launched USDtb, a new stablecoin backed by BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), on December 16th. Developed in partnership with Securitize, USDtb is designed to operate like existing fiat-backed stablecoins such as USDC and USDT, with reserves invested in cash or cash-equivalent assets to maintain a 1:1 value ratio. USDtb Debuts...Read More
The TRON blockchain has achieved a remarkable feat, processing $587.2 billion in USDT transfers during November 2024. This all-time high (ATH) reflects significant growth compared to $424.4 billion in September and $489.3 billion in October. TRON’s Stablecoin Boom The figure, captured by CryptoQuant analyst Maartunn, is noteworthy, considering in July 2019, the network only managed...Read More
The stablecoin market has experienced remarkable growth in 2024, driven by rising cryptocurrency adoption and a surge in institutional participation. All eyes are now on Ripple’s newly approved stablecoin, Ripple USD, a.k.a. RLUSD. But Ripple’s Chief Technology Officer, David Schwartz, addressed concerns over potential price anomalies for the asset as it prepares to launch. Speculative...Read More
Ethereum has emerged as the leading blockchain for Tether’s USDT supply, surpassing Tron in a monumental shift for stablecoin dominance. Over the past month, Tether issued $20 billion in USDT on the network, possibly marking it as the go-to blockchain for activity involving the fiat-pegged cryptocurrency. Strategic Expansion Figures shared by the on-chain data platform...Read More
Whale deposits into Binance have surged to a six-month high, with over 2.66 billion XRP tokens moved to the exchange in the past 30 days. According to the latest analysis by CryptoQuant, this figure marks the largest influx of XRP by large holders since April 2024, indicating a notable uptick in activity among whales. These...Read More
USDT emerged as a leading digital asset in Q4 2024, with 109 million on-chain wallets holding it, more than double the number for Bitcoin and nearing the 128 million wallets that own Ethereum. Beyond on-chain activity, 86 million accounts on centralized platforms have received USDT deposits. USDT’s Dominance According to the second edition of ‘Tether...Read More
Circle Internet Financial Ltd., the company behind the second-largest stablecoin in the cryptocurrency market USDC, announced layoffs following a routine operational assessment. According to the Bloomberg report, the job cuts impact under 6% of the workforce. Despite these reductions, the firm said that it remains committed to expanding geographically and improving efficiency and productivity through...Read More
XRP has climbed to the third spot among cryptocurrencies by market cap, overtaking the world’s largest stablecoin Tether (USDT) as well as the “Ethereum Killer” Solana (SOL). Data from CoinMarketCap reveals that XRP’s capitalization has surged past $1350 billion, leaving only Bitcoin (BTC) and Ethereum (ETH) ahead in the rankings. Over the past seven days,...Read More
Base, the Coinbase-incubated Ethereum Layer 2, has experienced tremendous growth since it launched its mainnet on August 9, 2023. According to Delphi Digital’s latest report shared with CryptoPotato, in 2024 alone, daily transactions on Base have soared by 1,600%, climbing from 372,000 at the start of January to over 6.63 million in October. This makes...Read More
With a current market cap of less than $200 billion, stablecoins represent a tiny fraction of global financial transactions – just 1% of US money supply and foreign exchange operations. However, a joint report by Standard Chartered and Zodia Markets research suggests significant growth potential, with experts projecting expansion to 10% of the US money...Read More
American crypto exchange Coinbase will stop offering rewards to holders of the USD Coin (USDC) stablecoin located in the European Economic Area (EAA) on November 1. In a note to clients, the exchange explained that the move had been triggered by “new requirements for e-money tokens” that are expected to come into effect with the...Read More
The global stablecoin supply has hit new highs, with Tether (USDT) and USD Coin (USDC) dominating the sector. According to a Bloomberg report citing data from DefiLlama, the market capitalization of stablecoins has increased by 46% this year, reaching a record of about $191.6 billion at the time of writing. Stablecoin Market Value Up 50% Since...Read More
Howard Lutnick, US President-elect Donald Trump’s pick for Commerce Secretary, aims to launch a $2 billion project to lend dollars to clients who supply Bitcoin as collateral, according to Bloomberg citing people familiar with the matter on Nov. 24. Funding for the program will start at $2 billion and is “expected to eventually reach into...Read More
Sky, the DeFi lending protocol that was formerly known as Maker, has rolled out its USDS stablecoin on the Solana blockchain. According to the official announcement, Sky said the launch positions USDS as “the first major DeFi-native stablecoin on Solana,” offering new avenues for borrowing, lending, and trading on the blockchain’s leading DeFi platforms. “Today’s...Read More
Binance’s token BFUSD has already sparked speculation even before its launch. It all started with Binance’s introduction of the new asset on Monday which offers 19.55% APY, positioning itself as an alternative to conventional stablecoins. Not a Stablecoin, But a Reward-Bearing Asset According to the website, users can earn daily rewards simply by holding BFUSD...Read More
The total stablecoin supply reached an all-time high of approximately $176.2 billion. According to data compiled by Token Terminal, stablecoin supply has steadily recovered after a decline from mid-2022 through early 2023, which likely mirrored broader market retracements during the crypto winter. Since then, the aggregated supply has shown consistent growth. Stablecoin Market Cap Growth...Read More
The British government plans to introduce legislation to regulate stablecoins and crypto staking. This move comes as President-elect Donald Trump lays out his plans to make the United States a global crypto hub, creating fresh competition for the UK to retain and attract digital asset businesses. Stablecoin and Staking Legislation According to a Bloomberg report,...Read More
Donald Trump’s win triggered massive gains for not just digital assets but also crypto-related stocks, and ETF flows on November 6 and 7 as stakeholders await potential regulatory clarity, legislative advancements, and expected shifts within the Securities and Exchange Commission. Following the results, data showed billions worth of ERC-20 stablecoins flowing into exchanges. This could...Read More
Crypto market maker and liquidity provider Wintermute has proposed a fee switch framework for the Ethena protocol. The main objective behind this move is to establish revenue alignment with sENA token holders and clarify Ethena’s protocol revenue structure. Wintermute’s Fee Switch Proposal According to Wintermute, sENA holders – those who have staked their Ethena tokens...Read More
On Nov. 5, crypto, venture capital, and fintech firms Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos, and Robinhood announced the launch of the “Global Dollar Network.” The partners are combining resources and expertise to increase stablecoin adoption and expand real-world use cases with the launch of the Global Dollar USDG stablecoin. Paxos will be...Read More
Venture capital firm Sequoia Capital stands to make approximately $100 million following Stripe’s $1.1 billion purchase of Bridge. The substantial return is particularly notable in the crypto sector, where venture funding has significantly declined since its peak in 2022. Other Investors Also Set for Major Returns According to reports from Bloomberg, Sequoia invested $19 million...Read More
