Search Results for: U.S. dollar-pegged token

Tether’s Market Cap Inches Towards All-Time High as Competitors Struggle With Redemptions 

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Despite several U.S. dollar-pegged digital tokens experiencing notable redemptions in recent months, the largest stablecoin by market valuation, tether, is on the verge of achieving its highest-ever market capitalization. With a current value of $82.84 billion, tether is a mere $433…

The Stablecoin Economy Shed $28 Billion in 2022 After a Handful of Tokens Lost Their $1 Peg

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2022 has been an interesting year for stablecoin assets as the market capitalization of the entire stablecoin economy lost just over $28 billion in value. Moreover, more than $3 billion has been erased from the stablecoin economy during the last 23…

Stablecoin GUSD’s Supply Jumps Close to 130% Higher in 30 Days

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While the stablecoin economy has seen fluctuations from specific stablecoin tokens either increasing the project’s number of tokens in circulation or decreasing the supply, the stablecoin GUSD issued by Gemini has increased by 129.5% during the last 30 days. GUSD Sees…

Binance and Paxos-Backed Stablecoin BUSD’s Market Cap Climbs 22% in 2 Months

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In mid-August, or 68 days ago, the market capitalization of the stablecoin BUSD was approximately $17.7 billion and since then, its grown 22.88% higher to today’s $21.78 billion. BUSD’s growth comes at a time when the market valuations of the top…

Circle CEO, Paxos, and Trueusd Speak on Binance’s Stablecoin Auto-Conversion Decision

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On September 5, Binance explained that it planned to drop a number of usdc trading pairs and auto-convert specific stablecoin balances into busd by September 29. While the move was controversial among crypto proponents on social media, Circle Financial CEO Jeremy…

Terra Proposal Seeks to Expand UST Stablecoin to 5 Different Defi Protocols

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On January 6, Terra Research announced a proposal to expand the network’s stablecoin asset terrausd (UST) across a number of different protocols on Polygon, Ethereum, and Solana. Terra’s governance blog post discusses how the proposal to leverage $139 million of UST…