A bear market is a common practice in the cryptocurrency market and everyday traders are used to it. It has been experienced for a number of times in the past and it will also happen in the future in all financial markets. The value of the assets has been depreciated by almost 70% from their…
The problem with insufficient backing for deposits made with banks seems to be more and more pressing with each passing week. Several countries have struggling banks amidst the global recession and an intricate geopolitical situation with significant threats of widespread military conflict between nuclear-wielding countries. China, Russia, the UK, the US, and many other countries…
Indeed, stablecoins suffered massively after the TerraUSD de-pegging crisis. The fiasco had UST plummeting from the steady $1 parity to $0.06 per UST while publishing this content. That had investors losing confidence as far as stablecoins are concerned. Meanwhile, USDC provider Circle took measures to restore the lost trust. Keep in mind that USDC is…
The largest stablecoin lost its USD peg last week, which resulted in many holders converting their USDT holdings to other stablecoins or fiat. The USDT de-pegging also created intense selling pressure in the wider crypto market. Tether Holdings Ease Fears Of Usdt Holders A part of the latest quarterly report by Tether holdings was dedicated…
93.68% of the Curve pool is made up of USDN, according to crypto writer Colin Wu’s article. Similar ratios were detected in UST’s Curve pools, indicating that the peg is below strain and that more deposits may be required to maintain equilibrium. The USDN price, which is expected to remain stable at around $1, dipped…
While the crypto community is even now struggling to decipher the pegging-de-pegging fiasco of Terra concerning the stablecoin offering UST (TerraUSD) thereof, Binance (a prominent crypto exchange) terminated the withdrawals for UST and LUNA (Terra) on Tuesday. Recently, the market value of the stablecoin offering of Terra (UST) plummeted to lower than the anticipated price…
The latest Coinmarketcap data shows that DEUS finance’s stablecoin, the DEI, has lost its dollar peg. After losing its dollar peg and dipping to a new low of $0.55 during the Monday morning session, the price of the algorithmic stablecoin has made some slight gains and currently trades at $0.66 following. While DEUS finance’s stablecoin…
No digital token traded in the green amid Thursday’s early hours. Bitcoin dropped 10%, while Ethereum noted an 18% nosedive. Meanwhile, the altcoin marketplace bled severely. The crypto market suffered today as the global economy battled multiple factors. The stablecoins’ unstable algorithmic hurt sentiment in the crypto market, whereas U.S dollar-tied tokens see ‘de-pegs,’ dragging…
The company behind XSGD – one of the largest non-USD stablecoins pegged to the Singapore-dollar – StraitsX, announced the launch of a stablecoin denominated by the Indonesian Rupiah dubbed XIDR. Indonesia is one of the fast-growing crypto hotspots in the Asia region. A media outlet, Jakarta Post, reported that there are more cryptocurrency investors in…
There are diverse opinions and views as regards the Tuesday meeting of the United States Senate ad-hoc Committee on Banking, where the legislature will look into the control and regulation of Stablecoins. The meeting will, among other things, consider the pros and cons attached to the issuance of stablecoins to users as well as the…
Briefly – LUNA price recorded a 56% surge over the past week, touching a new ATH at $67.87. The algorithmic-supported stablecoin UST is one of a kind, powering Web3 adoption. Anyswap platform announced collaborating with Terra, running a cross-chain link between Fantom and TerraUSD. As Web3 acceptance gains stem, Terra-supported LUNA touched a new ATH….