Stablecoin

For the Blockchain Industry, the COVID-19 Clock Is Ticking

Blockchains reached a feverish level of hype following the ICO mania of 2017. Peddled as the panacea to the world’s ills, many of such promises ill-intentioned, initial coin offerings raised enormous sums of funds within minutes as the public’s focus shifted to the wild world of cryptocurrencies. Once the hype faded, the emerging narrative surrounded …

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Visa Approves New DeFi-Enabled Crypto Card in EU and UK

Cryptocurrencies like Bitcoin (BTC) aren’t really easy to spend in day-to-day life, mainly because retailers prefer to stay away from crypto’s volatility. In order to build a bridge between traditional finance and emergent assets like Bitcoin, a Swiss crypto startup called Eidoo has introduced a new Visa crypto debit card that uses regulated stablecoins for …

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Tether Unseats XRP As Third-Largest Crypto, Dwarfing Its Volume 25:1

Tether (USDT) has overtaken XRP to become the third largest cryptocurrency by market capitalization, as Ripple fails to gain adoption amongst retail investors. Top 10 Cryptocurrencies by Market Capitalization. Source: CoinMarketCap As for Ripple (XRP), it’s been a race to the bottom, its market cap has collapsed from a high around $130 billion in January …

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Stablecoins Can Transfer Value Across Blockchains, Says Vitalik Buterin

Ethereum co-founder Vitalik Buterin thinks that the stablecoin industry is missing a valuable opportunity to improve interoperability between different blockchains.  In a lengthy Twitter thread on May 20, Buterin suggested that stablecoins could enable users to move value across different blockchains: “In the specific case of issuer-backed stablecoins there’s lots of things that could be …

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Tyler Winklevoss: Stablecoin Race to Begin When Wall St Embraces DeFi

Investor, early crypto adopter, and CEO of Gemini exchange, Tyler Winklevoss, predicted that competition between stablecoins will really begin once Wall Street moves into decentralized finance, or DeFi, during a recent interview with The Defiant’s Camila Russo. However, despite his optimistic outlook for DeFi, the Gemini co-founder asserted that the crypto industry currently does not …

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COVID-19 Incentivizing Crypto and Leading Mainstream Adoption

Crypto is a place where everything changes faster than in any other industry, and seeing as it was born in the age of the internet, this is quite fitting. Today, China is leading the global digital asset initiative. The train of innovations seems to go faster as the digital yuan (also referred to as DCEP) …

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Tether USDT Surpasses XRP as the 3rd Largest Cryptocurrency

Tether’s (USDT) has just surpassed XRP in market capitalization, becoming the third biggest cryptocurrency in the moments leading into the Bitcoin halving. Sitting with a market cap of $8.79 Billion it is now bigger than XRP, whose market cap is roughly $8.6 billion. USDT is currently second only to Ether (ETH) as the largest altcoin …

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Bitcoin Gains Ground on Gold, Bolsters Claim as the Asset of Tomorrow

Is gold faltering as a safe haven? A Coinbase blog post from May 1 suggested that several months into the COVID-19 pandemic, gold’s market efficiency vis-à-vis Bitcoin (BTC) could be slipping. “Bitcoin and gold are fundamentally similar as scarce and globally accessible units of value,” the report noted, but recent “challenges” in the gold market …

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Tether Held on Exchanges Could Help Forecast Bitcoin Bull Runs

A crypto data firm representative explained how Tether’s on chain data can potentially forecast Bitcoin’s (BTC) bull runs. Marketing and social media director at Santiment, Brian Quinlivan, told Cointelegraph on May 7 that the percentage of USDT held on exchanges often anticipates Bitcoin’s bull runs. He explained the principles behind the analysis: “Most USDT isn’t …

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Gold Ownership Has Been Difficult, Until the Days of Crypto

Gold’s history as a symbol of value dwarfs that of any other artifact. Used as money in both ancient Greece and the Roman empire, gold was also the preferred method of payment for goods along the Silk Road. When modern banking emerged during the Italian Renaissance, the concept of paper money convertible into gold was …

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