stablecoin
Crypto trading is lucrative, but it’s not easy. As one of the most volatile asset classes, crypto has its fair share of horror stories. Making money in this industry requires a good knowledge of market indicators, trading strategies, and continuous analysis. Ultimately, that’s what makes an elite trader. Matthew McGregor is one such trader, having carved out a niche as an influencer and a serial entrepreneur. After 15 years of running his own company, Matthew chose to enter crypto full-time. Since then, he has founded AlphanumetriX and BLKBöX, developing automated tools to help new users trade...
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Argentina is seeing a surge in cryptocurrency adoption. The shift towards digital currencies comes as the nation continues to struggle amidst triple-digit inflation rates. According to a Forbes report, the South American nation is leading in terms of crypto adoption in the western hemisphere. The July 8 report noted that 2.5 million of the 130 million visitors to 55 of the world’s largest crypto exchanges came from Argentina. Stablecoins in demand Binance, the world’s largest crypto exchange, has the most visits from Argentina, accounting for 6.9% of the exchange’s total recorded visitors. Int...
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Stablecoin issuer Paxos has tapped Singapore’s DBS bank as its custodial partner. The bank will be responsible for cash management and the custody of Paxos’ stablecoin reserves. This is the first time the DBS Group, which is the nation’s largest bank, will hold stablecoin reserves. DBS and its cryptocurrency tiesThe recent move is expected to deepen the bank’s roots in the cryptocurrency sector. Highlighting the bank’s future plans, Evy Theunis, head of digital assets at DBS, said: We look forward to partnering leading stablecoin issuers for their cash management and reserve custody needs if t...
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In a notable step in the cryptocurrency payment industry, Coinbase exchange has joined forces with Stripe to facilitate USD Coin (USDC) transactions on the Base network. The Coinbase layer2 network Base will capitalize on Stripe’s capabilities to enable smooth cryptocurrency transactions. Base is Coinbase’s layer2 blockchain that boasts a user-friendly environment for developers to build dApps. Besides catering to Coinbase’s on-chain products, Base is an open-source network for external creators to build on. According to Coinbase, the collaboration with Stripe aims to bolster on-chain adoption...
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In a rapidly evolving regulatory landscape, Kraken, a prominent US-based cryptocurrency exchange, has firmly stated that it has no plans to delist Tether (USDT) from its European platforms. This announcement comes in response to Bloomberg reports that Kraken was “actively reviewing” supporting Tether’s USDT stablecoin on its European platform because of the regulatory scrutiny surrounding the use of stablecoins in the European Union (EU). Kraken clarifies on Tether (USDT) delisting rumoursMark Greenberg, Kraken’s Global Head of Asset Growth and Management Business, has made it clear that Krake...
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Despite starting the day on a decline, Pyth Network (PYTH) has regained and is currently trading 20% higher over the past 24 hours. Today’s price swing was influenced by a major token unlock and the release of a new LISUSD/USD price feed. Pyth Network (PYTH) token unlockIn the morning, PYTH price experienced a significant price dump due to a voluminous token unlock event. The token dropped to a low of $0.3552 before resurging. Data from tokenunlocks.app shows that the Pyth Network unlocked $935.52 million worth of tokens (2.13 billion PYTH tokens) on 19 May at 2:00 PM UTC as part of a cliff un...
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Tether CEO Paolo Ardoino has slammed Ripple CEO Brad Garlinghouse’s remarks that the US government is “going after” Tether (USDT) as mere “FUD.” The Tether CEO also hit back at Garlinghouse as a CEO at the helm of a company currently under investigation by the US Securities and Exchange Commission (SEC). UDST is the world’s largest stablecoin, currently leading the market with over $111 billion in value. Tether also issues other stablecoins including one pegged against the Euro. Meanwhile, Ripple is an enterprise blockchain and cryptocurrency solutions provider and the company behind XRP. SEC ...
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A new analysis conducted by Visa and data analytics firm Allium Labs has discovered that less than 10% of stablecoin transaction volumes are generated by real users, with the vast majority driven by automated bots and large-scale traders. Limited organic activity in stablecoin transactionsThe study, which was reported by Bloomberg, investigated approximately $2.2 trillion worth of transactions in April and found that only about $149 billion represented genuine, organic payments activity. This stark discrepancy highlights the prevalence of non-human actors in the stablecoin markets. The analysi...
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