The stablecoins are going low and belong to their peg. The market cap of stablecoin as of now is above $150 billion. The stablecoins in the cryptomarket are in total wobble, post the disastrous fall of TerraClassicUSD (USTC). One among those stablecoin is USDD by TRON DAO. The coin has
The request significantly differs from the daily average of 2k requests/5min. The company had received a ransom demand from the hackers. On June 18, a major denial-of-service assault targeted Tether, one of the world’s biggest cryptocurrencies, by market capitalization. Tether’s Chief Technical Officer, Paolo Ardoino, tweeted that the company had
The Euro Coin, or EUROC, will be accessible for trade on June 30. The euro-pegged stablecoins first custodian is Silvergate Bank. Circle Internet Financial (Circle), the company behind USD Coin (USDC), has announced the debut of a fully-reserved stablecoin linked to the euro, an indication to the market that despite
By mid-July, the bank plans to undertake its first DFA transaction. The VTB board member said they would establish a new platform to acquire digital rubles. Russian banking heavyweight Sber is gearing up to close its first digital currency transaction employing the bank’s unique platform for virtual assets. By mid-July,
The bill does not address existing asset-backed stablecoins. Mitsubishi UFJ intends to launch its own stablecoin called Progmat Coin. On Friday Japan’s government implemented a legal framework for stablecoins that offering a safeguard for investors, following last month’s TerraUSD crackdown which led to multibillion-dollar losses. The collapse of algo-stablecoin TerraUSD
In November of last year, the global cryptocurrency market was valued at $3 trillion; now, it is valued at $1.2 trillion. Cryptocurrency prices have traded in red for a long time, with most digital currencies losing double digits for a prolonged time. TRON is one of the few cryptocurrencies that
TerraUSD’s failure has shattered the hopes of algorithmic stablecoins. Co-founder of Tether and Ethereum says the structure of UST is defective. The issuer of USDC states that the UST structure is a very high-risk foundation for a stablecoin. The recent market crash of the crypto industry has devastated the hopes
Colin Wu, a China crypto reporter, said the Chinese government could implement even stronger restrictions or even ban stablecoins. Due to the collapse of the Terra network, China’s media source, the Economic Daily, has indicated that the Chinese government may impose even tighter restrictions on cryptocurrencies. The source described how
Terra’s demise has raised fears that other stablecoins may lose their peg. Stellar blockchain digital wallet users will be able to convert their assets into USDC. MoneyGram and the Stellar Development Foundation have teamed together to promote the use of digital currencies more broadly. Users will be able to transfer
The peso, which is now trading at $0.051, will serve as the base currency for MXNT. According to data by Triple-A, most crypto in Mexico is utilized for speculation and trade. A Mexican stablecoin will be introduced in addition to its counterpart USDT, the biggest stablecoin by market capitalization at
