stable currency

On March 17th, the Bitcoin based DeFi protocol, Sovryn, launched a 100% Bitcoin supported stable currency, Sovryn Dollar (DLLR), which is aggregated from other Bitcoin supported stable currencies and linked to the US dollar. DeFi Protocol Sovryn Launches Bitcoin Supported DLLR Analysis based on this information:The decentralized finance (DeFi) realm experienced a new development on March 17th with Sovryn launching its 100% Bitcoin supported stable currency, Sovryn Dollar (DLLR). This new stable currency is made possible through the aggregation of various other Bitcoin supported stable currencies and is pegged to the US dollar. This has various implications for Bitcoin and the broader DeFi space. Firstly, the creation of a stable currency that is entirely based on Bitcoin is an exciting development. Bitcoin has gained a reputation as a volatile asset, and this has limited its use in various financial applications. However, through embracing the DeFi space, Bitcoin has expanded its potential uses, and the creation of a stable currency based…

According to reports, according to Whale Alert data, the stable currency issuer Tether issued 1 billion additional USDTs on the Ethereum network at 2:35:59 Beijing time on March 17. Tether Chief Technology Officer Paolo Ardoino added that this is an authorized but not issued transaction on the Ethereum network, which means that this additional issue will be used for the next release request and on-chain interaction. Tether issues 1 billion additional USDTs on the Ethereum network Analysis based on this information:Tether, the stable currency issuer, has recently released an additional 1 billion USDTs on Ethereum, adding to the already significant circulation of the stablecoin. According to Whale Alert’s data, the transaction took place on March 17th at 2:35:59 Beijing time, which indicates that Tether may be preparing for an upcoming release request and on-chain interaction. Tether has been known to have large balances of USDT in reserve, and this additional issue of 1 billion USDTs demonstrates their capability and capacity…

According to reports, according to CoinGecko data, the market value of the stable currency USDT has risen to around $75 billion, the highest level since May 2022. The market value of USDT is twice that of USDC. Although USDC has resolved recent issues and is flat with the US dollar, the aftermath of the SVB bank run indicates that investors are increasingly choosing USDT. USDT’s market value rose to around $75 billion, hitting a new high since May 2022 Analysis based on this information:The cryptocurrency market has been experiencing a tumultuous ride over the past year, but one area that has remained relatively stable is that of stable currencies. As the name suggests, stable currencies aim to maintain a stable value in comparison to a particular currency or asset, making them a popular choice for investors looking to protect their portfolios from the volatility of traditional cryptocurrencies. According to recent reports, the market value of the stable currency USDT has…

On March 15th, Arkham Intelligence analysis data showed that after the USDC was anchored, an address associated with the Alameda Research liquidator sent $100 million in stable currency to crypto trading companies Cumberland and GSR Markets. More than $47 million of USDCs were sent to GSR Markets on March 13, and another $50.3 million was sent to Cumberland through two transactions. Alameda’s associated address sent US $100 million in stable currency to Cumberland and GSR Markets after USDC’s anchor release Analysis based on this information:The message talks about a recent development in the world of cryptocurrency. According to the Arkham Intelligence analysis data, an address associated with the Alameda Research liquidator had sent $100 million worth of stable currency to two cryptocurrency trading companies – Cumberland and GSR Markets, after the USDC was anchored. This news is significant because Alameda Research is a well-known cryptocurrency firm that focuses on quantitative trading and offers liquidity solutions to various exchanges. The fact…

It is reported that traders who use the DeFi agreement to bet on the recovery of the USDC at the weekend will face 8-digit liquidation risk if the stable currency breaks anchor with the US dollar again this week. If the USDC discounts again by 10%, the position exceeding US $70 million may face liquidation risk Analysis based on this information:The decentralized finance (DeFi) market has been on a roll in recent years. With the rise of cryptocurrencies, DeFi has evolved as a major contender in the financial world, providing a platform for individuals to trade, make investments, and engage in other financial activities. However, with new opportunities come new risks, and DeFi traders are facing a high level of risk due to the use of the DeFi agreement, which allows them to bet on the recovery of USDC. The USDC, a stablecoin supported by the US dollar, is a popular choice for traders on DeFi platforms. However, the stable…

According to reports, National Australia Bank said that it had completed the first inter-bank cross-border transaction through Ethereum using its own stable currency. The transaction is part of the pilot stable currency supported by the Australian National Bank for the Australian dollar. National Bank of Australia intends to issue stable currency with the code of “AUDN”, which will be managed as a liability on its books. The company plans to further support transactions in the Australian dollar, New Zealand dollar, Singapore dollar and US dollar, as well as in the euro, yen and sterling. National Bank of Australia issued stable currency on Ethereum Analysis based on this information:National Australia Bank has made history by completing the first inter-bank cross-border transaction using Ethereum, a decentralized open-source blockchain technology. The transaction was carried out through its own stable currency which is part of the pilot stable currency supported by the Australian National Bank for the Australian dollar. This new transaction process is…

It is reported that Charles Edwards, founder of the digital asset quantification fund Capriole Investments, said on social media that Bitcoin is the largest support on the chart, and we are in the early stage of the bank run of the United States. Isn’t that ironic? At the same time, the most reliable stable currency is facing a crisis of trust. The United States needs to step in quickly to eliminate this situation, otherwise it may be too good for the special currency. Remember the words engraved on the first Bitcoin block in 2009? This is the purpose of Bitcoin’s birth. Charles Edwards: We are in the early stage of a run on the Bank of America Analysis based on this information:In a recent social media post, Charles Edwards, the founder of Capriole Investments, expressed his thoughts on the current state of digital assets and the United States economy. According to Edwards, Bitcoin is the largest support on the chart,…

It is reported that according to statistics, the stable currency USDC recorded a global trading volume of US $26.73 billion within 24 hours. On Saturday, the USDC decoupled from the US dollar and fell to a low of US $0.877. Therefore, encryption companies such as Binance, Coinbase, Crypto.com and Bitpay suspended USDC payment and automatic conversion. The stable currency USDC recorded a global trading volume of US $26.73 billion within 24 hours Analysis based on this information:USDC Trading Volume Hits $26.73 Billion, But Cryptocurrency Companies Suspend Payments Keywords: USDC, Stable Currency, Trading Volume, Cryptocurrency Companies, Payment Suspension Interpretation: A stable currency, USDC has recorded a global trading volume of $26.73 billion within 24 hours, according to statistics. Despite this, on Saturday, the USDC decoupled from the US dollar and fell to $0.877, causing cryptocurrency companies such as Binance, Coinbase, Crypto.com, and Bitpay to suspend USDC payment and automatic conversion. This news raises several questions about the sustainability and trustworthiness of…

On March 13, CZ, the founder of Binance, said in a message on social media that, considering the changes in stable currency and bank, Binance will convert the remaining US $1 billion of industrial recovery plan funds from BUSD to native cryptocurrency, including BTC, BNB and ETH. Some capital flows will occur on the chain to ensure transparency. CZ: US $1 billion “Industry Recovery Fund” will be converted from BUSD to BTC, BNB and ETH Analysis based on this information:Recently, CZ, the founder of Binance, announced in a social media post that the remaining $1 billion of the Industrial Recovery Plan Funds will be converted from BUSD to native cryptocurrencies like BTC, BNB, and ETH. This move was taken given the changes in stable currency and the banking system. Capital flows will be monitored closely to maintain transparency. Binance is a cryptocurrency exchange located in Malta that provides a platform for users to trade various digital currencies. BUSD is a…

It is reported that Kraken, the cryptocurrency exchange, tweeted that Kraken’s dollar funds would not be affected. However, recent events should ring the alarm bell and remind us to strengthen diversification and self-hosting. Kraken has no significant exposure to the exchange rate of the stable currency, because it does not believe that the stable currency can be exchanged with the legal currency. Kraken is the top stable currency operating market, allowing traders to provide liquidity and price risk. The threat from Operation Chokepoint 2.0 still exists. Cryptocurrency trading platform Kraken: there is no significant risk exposure to the stable currency exchange rate, and the dollar funds are not affected Analysis based on this information:Kraken, a prominent cryptocurrency exchange, recently issued a warning to its users about the need to strengthen diversification and self-hosting. In a tweet, Kraken stated that its dollar funds were safe, but recent events had highlighted the importance of being prepared for unexpected fluctuations. The warning came…

On March 13, the official Twitter of Paxos, the issuer of stable currency, said that the current deposit in Signature Bank was 250 million US dollars and the deposit insurance system had been established. All Paxos stable currency reserves are fully supported, and can be redeemed to customers at any time at the ratio of US $1:1. Paxos: Currently, the deposit in Signature Bank is 250 million US dollars Analysis based on this information:Paxos, the issuer of stable currency, announced on March 13 that the current deposit in Signature Bank was 250 million US dollars and the deposit insurance system had been established. This announcement assured customers that all Paxos stable currency reserves are fully supported and can be redeemed to customers at any time at the ratio of US $1:1. Stable currency is a type of cryptocurrency that is designed to maintain a stable value. Its value is pegged to a more stable asset, such as the US dollar,…

It is reported that in response to the recent problem of the stable currency market, Matt Hamilton, former developer relations director of Ripple and now chief developer of Protocol Labs, said on social media that XRP Ledger is the first blockchain to support the so-called stable currency. On XRPL, this type of asset is named and called IOU (I own you) tool, that is, debt obligation. Users lend 1000 dollars in exchange for 1000 USDC, and Circle will return it as needed, Such a system requires users to clearly determine their level of trust in counterparties. Matt Hamilton said that the concept of stable currency changed because of the arrival of Ethereum, because people began to regard the stable currency such as USDT or USDC itself as an asset rather than the debt of other assets. Former developer relations director of Ripple: Ethereum has changed the concept of stable currency from debt to asset Analysis based on this information:The stable…

It is reported that a new study by Kaiko, a digital asset data provider, found that Silvergate\’s decision to close its real-time payment network may promote in…

According to reports, Federal Reserve Chairman Powell said that he was really worried about the unlicensed blockchain. This is not conducive to maintaining saf…

On March 7, Kaiko, a market research company, said in a report released on Monday that the troubled Silvergate Capital decided to close its popular instant set…

According to the report, according to the data of Coinsecko, the current total market value of the stable currency is about 136.5 billion US dollars, of which …

It is reported that the New York Financial Services Department (NYDFS)\’s BUSD casting ban forced Coin to find other stable currency alternative solutions to me…

According to the report, the official website of Circle, the issuer of stable currency, said that due to the continued uncertainty of Silvergate Bank, today Ci…