Ethereum energy usage has drastically decreased with the completion of the merge upgrade. In contrast to other coins except for stablecoins, Ethereum now serves as both a low-energy consumption coin and a haven, particularly during times of market turbulence. Key Ethereum Levels To Watch – December 19 A Blockchain investigator named Peckshield revealed today on […]
According to recent statistics, the market value of the stablecoin economy has shrunk by about 2.02% over the last 30 days. The stablecoin economy had a value of $147.03 billion on October 31, 2022, but it is now only worth $144.05 billion. Additionally, the market value of every stablecoin currently in use is considerably lower […]
Behemoth exchange Binance plans to cease support for some Stablecoins, after a recent announcement via a blog post revealed that it was introducing a “BUSD Auto- Conversion” mechanism for users with existing balances or deposits of USDC, USDP, and TUSD, at a 1:1 ratio. Users will be able to see their converted balances on their […]
Recent reports show that the Russian government is planning to work with allied nations on creating payment channels for cross-border settlements involving Stablecoins. The latest development came from Deputy Finance Minister Alexey Moiseev, as quoted by the Tass news agency. Moiseev explained: “We are currently working with a number of countries to create bilateral platforms […]
Authorities of Mendoza in Argentina have announced plans to allow about two million residents to pay taxes or government fees using Stablecoins, such as Tether (USDT) and Dai (DAI). A spokesman for the authorities explained: “This new service is part of the strategic objective of modernization and innovation carried out by the Mendoza Tax Administration […]
Polkadot-based Stablecoin Acala USD (AUSD) has joined the list of Stablecoins to lose their peg. Reports show that Acala USD shed over 98% of its value following an exploit. At press time, the Stablecoin traded at $0.2672, down by 7% in the last 24 hours, according to data from CoinMarketCap. The Acala Network made a […]
Yesterday, Tether, makers of the largest Stablecoin USDT, announced the launch of its new Stablecoin, GBPT. Issued on the Ethereum blockchain, GBPT is a Stablecoin pegged to the British pound. The official announcement detailed: “GBPT will be a stable digital asset that is pegged 1:1 to the British Pound Sterling. GBPT will be built by […]
Giant payment company Circle, makers of USDC (USD Coin), have announced the launch of its second major fiat-pegged Stablecoin. Unlike USDC, the new coin is pegged to the euro and is called Euro Coin (EUROC). The announcement came from the company’s CEO Jeremy Allaire yesterday, who asserted that EUROC has already garnered “broad industry support.” […]
After several accusations of not being transparent in its dealings, the Luna Foundation Guard (LFG) has provided a detailed explanation of the expenditure of assets under its custody. LFG is the organization responsible for securing the one dollar-peg of TerraUSD (UST), the algorithm-backed Stablecoin of the Terra ecosystem. The organization has acquired over 80,000 BTC, […]
