Centre Consortium members Circle and Coinbase have just launched an upgraded version of their popular USDC dollar-pegged stablecoin. Going live on August 27, USDC 2.0 aims to tackle high gas fees by allowing developers to delegate it to other wallets or take fees in USDC instead. Removing ETH From The Picture The official announcement explained...Read More
Circle, a peer-to-peer technology that enables payments in cryptocurrency and San Fransisco based exchange Coinbase announced that they have upgraded the USDC stablecoin protocol and its smart contract. Both Circle and Coinbase are members of the Centre Consortium that manages USDC. Together, the firms aimed to make the payment process easy for people who use...Read More
Demand for stablecoins has surged this year, mainly on the back of the DeFi sector, which has seen countless crypto earning opportunities arise. MakerDAO’s stablecoin, Dai, has just reached a milestone $400 million supply following the minting of a further $10 million. This 10 million DAI mint brings the total DAI supply to over 400...Read More
The large American multinational bank Goldman Sachs has appointed a pro-blockchain head of its digital asset department – Mathew McDermott. In a recent interview, McDermott expressed his views that the global financial scene should be digitalized and even hinted that Goldman is exploring the possibility of launching its own stablecoin. Pro-Blockchain Head At Goldman Sachs...Read More
Recent research has indicated that Ethereum has ‘blown past Bitcoin’ in terms of daily settlement value, which is a testament to how much economic activity has increased on the network. Ethereum Beats Bitcoin on Economic Activity Messari researcher, Ryan Watkins, recently posted his findings stating that a quarter ago, Ethereum had just about reached parity...Read More
A popular cryptocurrency researcher recently pointed out that the stablecoin issuer Tether has blacklisted 39 Ethereum-based addresses holding over $46 million of USDT. Interestingly, the information surfaced soon after another report indicating that the CENTRE Consortium has admitted doing the same to a USDC address with $100,000 worth of the stablecoin. $46M In Stablecoin Addresses...Read More
BitTorrent Inc users can now purchase goods and memberships on the platform with the USD-backed stablecoin of the leading cryptocurrency exchange Binance – BUSD. BUSD And BNB Changes On BitTorrent In a press release shared with CryptoPotato earlier today, the popular decentralized peer-to-peer company announced the introduction of the newest cryptocurrency asset on its platform...Read More
Three blockchain projects have teamed up to develop a Decentralized Finance (DeFi) savings project that allows investors to earn high-interest yields on stablecoin deposits, according to a Monday release. Anchor Savings Protocol Dubbed Anchor, the savings protocol is a joint venture between interoperable, scalable blockchain network Cosmos, decentralized web 3.0 blockchain interoperability network Polkadot, and...Read More
In its latest report, the Bank of International Settlements doubled-down on its narrative that the COVID-19 pandemic has exemplified the need for central banks to accelerate the development of central bank digital currencies (CBDCs). BIS outlined the ongoing payment digitalization phase and predicted that whoever launches such currency first will ultimately prevail. BIS: Payment Digitalization...Read More
Stablecoins are touted as a hedge against the high volatility in the cryptocurrency markets since they are pegged to a relatively stable asset or a basket of assets like fiats or precious metals. However, new findings reveal that some of these tokens have ties with illicit activities like Ponzi schemes. In its latest state of...Read More
Recent data indicates that Bitcoin transaction fees have been decreasing after the post-halving peak, while Ethereum fees are on the rise. As such, the total amount in fees spent on the Ethereum network has surpassed Bitcoin’s, and the gap continues to grow. The “Feepening” Ethereum Vs. Bitcoin According to information from the cryptocurrency data company...Read More
Recent data revealed that the number of Tether (USDT) transfers to cryptocurrency exchanges had reached an all-time high. Interestingly, this preceded the latest price increases within the cryptocurrency market. USDT Goes To Exchanges According to the data provided from the monitoring resource company, GlassNode, the number of Tether transfers to exchanges has been surging in...Read More
The value of ETH stored on its own Ethereum blockchain has been continuously decreasing in the past year, new research shows. While numerous ERC-20 tokens operate on the network, the growth of stablecoins presents the most substantial threat to cause a future “flippening.” ETH’s Role On Ethereum Blockchain Decreases Per the research provided by Messari’s...Read More
In the cryptocurrency space, there are a lot of different opinions on stablecoins. Vitalik Buterin sees some merit in these assets, although they may not find their core niche in their current state. The stablecoins currently on the market seem to struggle quite a bit. Stablecoins Need to Keep Evolving Only Tether’s USDT is effectively...Read More
Upon printing billions of fresh USDT in the past few months, the most widely adopted stablecoin has become the third-largest cryptocurrency by market cap. Tether has now surpassed Ripple (XRP) with its nearly $9 billion market capitalization. In the meantime, Ripple, which was among the top three cryptocurrencies for the past years, had seen its...Read More
Stablecoins issuance is not artificially inflating the prices in the cryptocurrency market, despite some controversial beliefs, suggested new research on the matter. At the same time, the paper acknowledged their vital role in the digital asset field and predicted that it’s only prone to grow in time. Tether Do Not Inflate The Crypto Market Last...Read More
In brief: The Coronavirus crash of mid-March has resulted in a lot of crypto traders being cautious. The dominance of stablecoins is proof that they are waiting for favorable crypto conditions to get back to trading. Staking crypto on the various exchanges has provided an alternative to trading and/or storing value in stablecoins. The Bitcoin...Read More
The popular cryptocurrency data aggregator, CoinGecko, reviewed the events in the digital asset market in Q1 2020. According to the report shared with CryptoPotato, Bitcoin ultimately ended up losing 11% of its value, but some altcoins and stablecoins managed to record gains and decreased BTC’s dominance. Bitcoin’s Q1 Data The unexpected outbreak of the COVID-19 pandemic put...Read More
The total value transferred on the Ethereum network reached full parity with Bitcoin last week. It’s mainly due to the increasing role of stablecoins in the market as they are responsible for 80% of all transactions on the Ethereum blockchain. Ethereum Network Transfer Value Parity With Bitcoin A publication revealed by Ryan Watkins, a researcher...Read More
The number of circulating Tether (USDT) coins now exceeds 6 billion. Tether, and most stablecoins, have been continuously minting new coins to cope with the growing traders’ demand in times of high volatility and uncertainty in the cryptocurrency market. Over 6B USDT In Circulation The past month was especially turbulent in terms of volatility, to...Read More
Over $1 billion worth of stablecoins is currently stored on certain cryptocurrency exchanges. Such an extensive amount sitting on the sidelines begs the question if traders are simply waiting for a definitive bullish sign to reenter the market. Over $1B Worth Of USDT and USDC On Exchanges As Cryptopotato reported earlier this month, most stablecoins’...Read More
So far, the past month had seen some of the worst days in Bitcoin’s price history. Following the emerging coronavirus crisis, Bitcoin plunged from a high of over $10K in mid-February, to a current low of $3,600 reached March 12. Since then, the price had recovered to the $6,000 area, but March is not yet...Read More
Blockchain and cryptocurrencies expanded their presence and usage in 2019, says JP Morgan. The giant American multinational investment bank filed a comprehensive report regarding the performance of the technology and digital assets in 2019. Bitcoin Adoption Two years after the bank’s CEO, Jamie Dimon regretted calling Bitcoin a “fraud,” JPM issued a 74-page document that...Read More
Today, a news report from Reuters has mentioned, once again, that the blockchain industry continues to develop at an unprecedented speed, and that regulators need to get themselves caught up to speed, or risk behind left behind in the dust. In fact, the report suggests that many of the world’s Central Banks are becoming increasingly...Read More
Cryptocurrency regulations are taking a front-row in high-end governmental discussions. Steven Mnuchin, Secretary of the Treasury of the US, noted that FinCEN is working on introducing several new requirements to counter possible illegal financial activities. FinCEN To Apply New Requirements Yesterday, the U.S. Senate held a hearing to cover the 2012 budget. While addressing many...Read More
Canadian joint venture has launched a new stablecoin pegged to the Canadian Dollar (CAD). Dubbed QCAD, users can trade it against Bitcoin, Ethereum, and USDC, and it’s supported by cryptocurrency custodians Balance and Bitvo. Canada’s First Stablecoin – QCAD Announced earlier today, QCAD is built on top of the Ethereum blockchain, and it’s based on...Read More
The Hong Kong-founded popular cryptocurrency exchange, Bitfinex, has recently launched the newest version of its mobile app, which comes with Bitcoin deposits utilizing the Lightning Network. The update for the mobile app comes less than two months since the exchange added support for the Lightning network to its web platform. The Lightning Network Comes On...Read More
Stablecoins now have a larger share of value transferred on the Ethereum network than its native cryptocurrency – ETH. Even though the continuously increasing interest towards stablecoins appears as a concern to some, Changpeng Zhao believes that they are still needed for mass adoption. Stablecoins’ Flip On The Ethereum Network Yesterday, new research by Messari,...Read More
The last years of the crypto market have been marked with increased volatility, and in order to alleviate the effects of sharp fluctuations, more stablecoins have been launched. The stablecoin is a rather new development in the crypto world. Even if they are also cryptos that run on blockchains such as Bitcoin and Ethereum, stablecoins...Read More
Tether, the issuer of the popular stablecoin USDT, has now launched a new type of commodity-backed token pegged to gold. At the time of this writing, the new token will be issued on the networks of Ethereum and Tron. Tether Launches Tether Gold (XAUt) According to a recent announcement, Tether, the company behind the most...Read More
