✅ #USDC has successfully restored its peg and is currently trading at $1.
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FTX and Alameda Addresses Suddenly Wake up, Move $190 Million on Exchanges
📊 FTX, a cryptocurrency derivatives exchange, has been in the news recently due to the transfer of significant amounts of USDT and USDC to Coinbase, Binance, Kraken and Coinbase Custody Wallet. Three addresses associated with FTX/Alameda reportedly transferred 69.64 million USDT to the address "0xad6e," with 43 million USDT going to Coinbase, Binance and Kraken.
🔹 In addition, 75.94 million USDC were transferred to Coinbase Custody Wallet, according to blockchain data. This massive transfer of funds has raised concerns and speculation about the reasons behind it. Some suggest that it could be related to FTX's liquidation process, as the exchange is trying to gather all the funds it can to repay its investors to the extent possible.
#USDT
#USDC
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📊 FTX, a cryptocurrency derivatives exchange, has been in the news recently due to the transfer of significant amounts of USDT and USDC to Coinbase, Binance, Kraken and Coinbase Custody Wallet. Three addresses associated with FTX/Alameda reportedly transferred 69.64 million USDT to the address "0xad6e," with 43 million USDT going to Coinbase, Binance and Kraken.
🔹 In addition, 75.94 million USDC were transferred to Coinbase Custody Wallet, according to blockchain data. This massive transfer of funds has raised concerns and speculation about the reasons behind it. Some suggest that it could be related to FTX's liquidation process, as the exchange is trying to gather all the funds it can to repay its investors to the extent possible.
#USDT
#USDC
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Justin Sun-related wallet made over $3M from USDC depeg
📊 On-chain investigator Lookonchain reported that a wallet “possibly” connected to Tron founder Justin Sun made $3.3 million from USD Coin (USDC) March 11 depeg.
👀 Several crypto community members hailed the transactions on how Sun avoided losses and still profited from the USDC depeg.
🔹 A wallet labeled vitalik.eth spent 500 Ethereum (ETH) to mint the RAI stablecoin and later used the funds to buy the USDC dip. Blockchain analytical firm Peckshield added that the address also “swapped 17,500 RAI for 50,000 DAI.”
#USDC
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📊 On-chain investigator Lookonchain reported that a wallet “possibly” connected to Tron founder Justin Sun made $3.3 million from USD Coin (USDC) March 11 depeg.
👀 Several crypto community members hailed the transactions on how Sun avoided losses and still profited from the USDC depeg.
🔹 A wallet labeled vitalik.eth spent 500 Ethereum (ETH) to mint the RAI stablecoin and later used the funds to buy the USDC dip. Blockchain analytical firm Peckshield added that the address also “swapped 17,500 RAI for 50,000 DAI.”
#USDC
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📊 Circle has redeemed $2.9B USDC and minted $0.7B USDC on March 13, according to their latest update
On-chain data shows that between Mar 10 - 13:
Burn: ~2.8B USDC
Mint: ~955M USDC
In the last 7 days:
Burn: ~5.6B USDC
Mint: ~1.8B USDC
#USDC
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On-chain data shows that between Mar 10 - 13:
Burn: ~2.8B USDC
Mint: ~955M USDC
In the last 7 days:
Burn: ~5.6B USDC
Mint: ~1.8B USDC
#USDC
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💵 Tether's #USDT stablecoin market cap hit $75 billion, its highest since May 2022, leaving behind USDCoin by almost double the market cap.
Stablecoins are becoming a key feature, with #USDC's market cap growing from $564M in March 2020 to $37.7B today.
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Stablecoins are becoming a key feature, with #USDC's market cap growing from $564M in March 2020 to $37.7B today.
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USD market share on centralized exchanges down 31% in one year: Kaiko
📊 Trading volumes on centralized crypto exchanges (CEX) have seen a significant surge over the past few weeks. Trade volumes of the top 18 exchanges have reached a four-month high of $51 billion, the highest level since the collapse of the Bahamas based crypto exchange FTX.
⛓ The limited fiat on ramps has also led to a dramatic decrease in the U.S. dollar market share on CEXs. Fiat trade on the exchanges fell from 69% to 47%, marking a decline of 31%.
🔹 As of now, 78% of all trades on exchanges are denominated by stablecoins, leaving fiat currencies with a share of 19%.
#USD
#USDT
#USDC
#DAI
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📊 Trading volumes on centralized crypto exchanges (CEX) have seen a significant surge over the past few weeks. Trade volumes of the top 18 exchanges have reached a four-month high of $51 billion, the highest level since the collapse of the Bahamas based crypto exchange FTX.
⛓ The limited fiat on ramps has also led to a dramatic decrease in the U.S. dollar market share on CEXs. Fiat trade on the exchanges fell from 69% to 47%, marking a decline of 31%.
🔹 As of now, 78% of all trades on exchanges are denominated by stablecoins, leaving fiat currencies with a share of 19%.
#USD
#USDT
#USDC
#DAI
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Stablecoins’ Market Capitalization Falls to Lowest Level in 18 Months, Data Shows
📉 The total market capitalization of the stablecoins within the cryptocurrency space has fallen by 1.35% to $133 billion, the lowest it has been in 18 months, amid a US banking crisis that has been part of the reason behind the space’s decline for its twelfth consecutive month.
📊 As a result, stablecoins’ dominance in the market fell from 12.6% to 11.4% after recording its lowest end-of-month market share since April 2022.
🔹 Notably, the report adds that in March TUSD’s market capitalization experienced a significant surge of 82.6%, reaching $2.04 billion.
#USDT
#USDC
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📉 The total market capitalization of the stablecoins within the cryptocurrency space has fallen by 1.35% to $133 billion, the lowest it has been in 18 months, amid a US banking crisis that has been part of the reason behind the space’s decline for its twelfth consecutive month.
📊 As a result, stablecoins’ dominance in the market fell from 12.6% to 11.4% after recording its lowest end-of-month market share since April 2022.
🔹 Notably, the report adds that in March TUSD’s market capitalization experienced a significant surge of 82.6%, reaching $2.04 billion.
#USDT
#USDC
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MakerDAO Votes to Retain USDC as Key DAI Reserve Amid SVB Crisis
🔹 The MakerDAO community voted to retain the USDC stablecoin as a reserve for DAI. USDC became depegged during the downfall of Silicon Valley Bank but has since returned back to $1, appearing to have survived the crisis.
🔹 The MakerDAO community has voted in favor of retaining the USDC stablecoin as a key reserve for the DAI token. 79% of the voters supported maintaining USDC as a reserve, while 20% voted to diversify stablecoin reserves.
#USDC
#DAI
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🔹 The MakerDAO community voted to retain the USDC stablecoin as a reserve for DAI. USDC became depegged during the downfall of Silicon Valley Bank but has since returned back to $1, appearing to have survived the crisis.
🔹 The MakerDAO community has voted in favor of retaining the USDC stablecoin as a key reserve for the DAI token. 79% of the voters supported maintaining USDC as a reserve, while 20% voted to diversify stablecoin reserves.
#USDC
#DAI
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Circle Stablecoin USDC To Launch on Cosmos
🔹 Shortly after coming out of stealth, token protocol Noble has announced it has partnered with Circle to bring USD Coin (USDC) natively to the Cosmos ecosystem in Q2.
⛓ Currently on Cosmos, the major stablecoins can only be accessed through bridge protocols such as Gravity and Axelar. Estimates suggest around 100 different bridged USDC assets currently exist across the Cosmos landscape.
🔹 Now that DeFi protocols can stick with just one single official stablecoin, Noble hopes this partnership will inject and and facilitate new liquidity in the ecosystem. Circle first flagged intent to issue USDC on Cosmos last September.
#USDC
#ATOM
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🔹 Shortly after coming out of stealth, token protocol Noble has announced it has partnered with Circle to bring USD Coin (USDC) natively to the Cosmos ecosystem in Q2.
⛓ Currently on Cosmos, the major stablecoins can only be accessed through bridge protocols such as Gravity and Axelar. Estimates suggest around 100 different bridged USDC assets currently exist across the Cosmos landscape.
🔹 Now that DeFi protocols can stick with just one single official stablecoin, Noble hopes this partnership will inject and and facilitate new liquidity in the ecosystem. Circle first flagged intent to issue USDC on Cosmos last September.
#USDC
#ATOM
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USDC Outflows Surpass $10B as Tether’s Stablecoin Dominance Reaches 22-Month High
📊 USDC token net outflows have surpassed $10 billion since March 10, when regulators shuttered key reserve banking partner Silicon Valley Bank. U.S. payments firm Circle has weathered SVB’s collapse.
📉 USDT took advantage of BUSD’s retreat and USDC’s slump, CryptoCompare highlighted in its March market report.
Since March 10, USDT’s market capitalization has grown some $8 billion to $79.5 billion and it holds a 60% market share among stablecoins, according to DefiLlama. The last time USDT had such a large share was in May 2021.
#USDT
#USDC
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📊 USDC token net outflows have surpassed $10 billion since March 10, when regulators shuttered key reserve banking partner Silicon Valley Bank. U.S. payments firm Circle has weathered SVB’s collapse.
📉 USDT took advantage of BUSD’s retreat and USDC’s slump, CryptoCompare highlighted in its March market report.
Since March 10, USDT’s market capitalization has grown some $8 billion to $79.5 billion and it holds a 60% market share among stablecoins, according to DefiLlama. The last time USDT had such a large share was in May 2021.
#USDT
#USDC
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📈 With rising rates, Coinbase’s partner circle may have generated $300M+ in interest on the treasury bills on the outstanding supply of #USDC in Q4 of last year alone.
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Top 4 Stablecoin Supply Slides $37B as USDC and BUSD Shrink
📊 According to Glassnode, the market capitalization of the top four stablecoins has fallen by $37 billion, or 23% from its peak of $161 billion.
🔹 The majority of these declines have been the shrinking supplies of Circle’s USDC and Binance’s BUSD.
📉 USDC supply has fallen by $20 billion, and BUSD supply has lost $11 billion since their respective peaks, according to Glassnode.
📉 Even Tether (USDT) and Dai have seen sliding supplies of $1.3 billion and $4.4 billion, respectively.
#USDT
#USDC
#BUSD
#DAI
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📊 According to Glassnode, the market capitalization of the top four stablecoins has fallen by $37 billion, or 23% from its peak of $161 billion.
🔹 The majority of these declines have been the shrinking supplies of Circle’s USDC and Binance’s BUSD.
📉 USDC supply has fallen by $20 billion, and BUSD supply has lost $11 billion since their respective peaks, according to Glassnode.
📉 Even Tether (USDT) and Dai have seen sliding supplies of $1.3 billion and $4.4 billion, respectively.
#USDT
#USDC
#BUSD
#DAI
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Tether mints another billion USDT on Ethereum as its stablecoin dominance grows
⛓ Late last night, stablecoin issuer Tether minted one billion USDT tokens on the Ethereum network.
💵 According to Tether CTO Paolo Ardoino, the minting represented an "inventory replenish." He added that it was "an authorized but not issued transaction, meaning that this amount will be used as inventory for the next period [of] issuance requests and chain swaps."
Tether is the dominant stablecoin issuer on the Ethereum blockchain.
The total amount of USDT on Ethereum amounts to over 35 billion tokens. Its closest competitor, the Circle-issued USDC, accounts for less than 30 billion tokens. Meanwhile, Binance USD — which is not currently minting new tokens — makes up less than seven billion tokens.
#USDT
#USDC
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⛓ Late last night, stablecoin issuer Tether minted one billion USDT tokens on the Ethereum network.
💵 According to Tether CTO Paolo Ardoino, the minting represented an "inventory replenish." He added that it was "an authorized but not issued transaction, meaning that this amount will be used as inventory for the next period [of] issuance requests and chain swaps."
Tether is the dominant stablecoin issuer on the Ethereum blockchain.
The total amount of USDT on Ethereum amounts to over 35 billion tokens. Its closest competitor, the Circle-issued USDC, accounts for less than 30 billion tokens. Meanwhile, Binance USD — which is not currently minting new tokens — makes up less than seven billion tokens.
#USDT
#USDC
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US crackdown to blame for fall in value of USDC, Circle CEO Jeremy Allaire says
🎙 Jeremy Allaire, CEO of Circle Internet Financial, blames the shrunken value of the company’s stablecoin, USD Coin, on regulatory challenges in the United States and concerns about its banking system.
🔹 Allaire said investors’ desire to “de-risk out of the U.S.” is contributing to a fall in the market value of USDC during an interview on Bloomberg Television on Wednesday.
📊 The Block Research’s data indicates that the total supply of USDC in the market has fallen by roughly $10 billion since the start of the year to its current level of just above $30 billion. Meanwhile, the supply of rival USDT has gained ground to reach a total supply of $82.5 billion.
#USDT
#USDC
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🎙 Jeremy Allaire, CEO of Circle Internet Financial, blames the shrunken value of the company’s stablecoin, USD Coin, on regulatory challenges in the United States and concerns about its banking system.
🔹 Allaire said investors’ desire to “de-risk out of the U.S.” is contributing to a fall in the market value of USDC during an interview on Bloomberg Television on Wednesday.
📊 The Block Research’s data indicates that the total supply of USDC in the market has fallen by roughly $10 billion since the start of the year to its current level of just above $30 billion. Meanwhile, the supply of rival USDT has gained ground to reach a total supply of $82.5 billion.
#USDT
#USDC
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Circle To Allow Users Move USDC Between Avalanche And Ethereum
⛓ Circle announced its Cross-Chain Transfer Protocol or CCTP to allow asset transfers between Ethereum’s blockchain and the Avalanche network.
🔹 USDC users will be able to move stablecoins across Ethereum and Avalanche using CCTP, increasing Circle’s utility across multiple chains.
#USDC
#ETH
#AVAX
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⛓ Circle announced its Cross-Chain Transfer Protocol or CCTP to allow asset transfers between Ethereum’s blockchain and the Avalanche network.
🔹 USDC users will be able to move stablecoins across Ethereum and Avalanche using CCTP, increasing Circle’s utility across multiple chains.
#USDC
#ETH
#AVAX
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Circle refuses to hold longer-dated Treasurys on concern US government might default
🔹 Circle, the issuer of the USDC stablecoin, is refusing to hold Treasurys that mature beyond early June amid concerns U.S. politicians will fail to agree to raise the debt ceiling, risking a default on U.S. government debt, CEO Jeremy Allaire told Politico in an interview.
Democrats and Republicans in Congress are locked in a dispute about raising the government's $31 trillion borrowing limit, with the Treasury implementing special measures to meet its obligations.
#USDC
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🔹 Circle, the issuer of the USDC stablecoin, is refusing to hold Treasurys that mature beyond early June amid concerns U.S. politicians will fail to agree to raise the debt ceiling, risking a default on U.S. government debt, CEO Jeremy Allaire told Politico in an interview.
Democrats and Republicans in Congress are locked in a dispute about raising the government's $31 trillion borrowing limit, with the Treasury implementing special measures to meet its obligations.
#USDC
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DAI Mostly Centralized Even After Halving USDC Exposure
MakerDAO, the issuer of the DAI stablecoin, is making strides at reducing its reliance on USDC, but that doesn’t mean it’s decentralized.
DAI is now 24% collateralized by USDC, down from 40% one month ago and above 50% for much of the year, according to Daistats.
Decentralization advocates have called for DAI to reduce reliance on USDC. However, the protocol now holds more than $1B worth of US Treasury bills and other bonds from its Monetalis Clydesdale strategy, where Maker uses the USDC it acquires to invest in bonds. Monetalis Clydesdale now accounts for 22.5% of DAI’s backing, while other centralized stablecoins account for over 20%.
In March, Messari estimated Maker had earned $3.8M in three months of holding treasury bills.
#DAI
#USDC
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MakerDAO, the issuer of the DAI stablecoin, is making strides at reducing its reliance on USDC, but that doesn’t mean it’s decentralized.
DAI is now 24% collateralized by USDC, down from 40% one month ago and above 50% for much of the year, according to Daistats.
Decentralization advocates have called for DAI to reduce reliance on USDC. However, the protocol now holds more than $1B worth of US Treasury bills and other bonds from its Monetalis Clydesdale strategy, where Maker uses the USDC it acquires to invest in bonds. Monetalis Clydesdale now accounts for 22.5% of DAI’s backing, while other centralized stablecoins account for over 20%.
In March, Messari estimated Maker had earned $3.8M in three months of holding treasury bills.
#DAI
#USDC
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Forwarded from Laqira Giveaway
Let's Go 8rnd
End time: Mar/25/2024
Quote, Retweet, Comment, Like, and Share:
https://x.com/laqiraprotocol/status/1771204420979614163?s=46
New Listing on #LAQIDEX #LQR 🔥
https://laqidex.com/
#Bitcoin #BNB
@BNBCHAIN #Chainlink @chainlink
#SHIB #DOT #USDT #CAKE #SOL #Solana #ETH #XRP #USDC #ada #Cardano #DOGE #AVAX #TON #Matic #NEAR #BCH #UNI #JFIVE #DAI #ATOM #FIL #BTC
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According to Laqira Protocol, #LQR #BNB #LINK #BTC #ETH #USDT and #USDC listed on LaqiraPay.
LaqiraPay is a fully decentralized, asset-agnostic, multi-network payment gateway with enhanced flexibility and security through blockchain technology (ChainLink price feeds), offering transparent financial statements and in-app wallet features for users.
Link: LaqiraHub.com
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LaqiraPay is a fully decentralized, asset-agnostic, multi-network payment gateway with enhanced flexibility and security through blockchain technology (ChainLink price feeds), offering transparent financial statements and in-app wallet features for users.
Link: LaqiraHub.com
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