稳定币
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Recently, a new thing has emerged in the cryptocurrency circle, called USUAL Protocol, which claims to be a "decentralized bank" and to move real-world assets (RWA) to the chain. Does it sound familiar? Various "RWA narrative" projects have emerged one after another. Today, Lao Leek will take a look at this USUAL Protocol.
The core of USUAL is the USD0 stablecoin, which is said to solve the problem of uneven distribution of income of the current mainstream stablecoins. They have set up a mechanism of direct minting and indirect minting, which sounds quite fancy. Direct minting is to exchange collateral directly for USD0, and indirect minting is done through DAO. The white paper says that they will accept a variety of collateral, but what are they? What is the collateral ratio? These key information are not clearly stated, which makes people have to doubt their sincerity. Collateral is the lifeblood of stablecoins. If this aspect is not done well, the stability of USD0 will be worrying.
Another key to USUAL is the USUAL token, which is said to be a governance token, and a deflation model is also set up to stimulate user participation. Old leeks have seen this routine many times, it is nothing more than trying to pull the market and cut leeks. Of course, if the project can really develop, token holders can also get a share. But the question is, how big is this "if"? At present, the RWA track is still in its early stages and faces many challenges such as supervision and technology. Whether USUAL can stand out is still unknown.
The white paper also mentions risk management, saying that technical risks, mortgage risks, and product risks must be managed. This is right. Which project does not pay attention to risks? But the real risks are often hidden in the details and cannot be solved by talking about them. Old leeks suggest that if possible, carefully study their smart contract code to see if there are any loopholes.
In short, the starting point of USUAL Protocol is good, and it wants to solve some pain points in the current stablecoin and RWA fields. But old leeks want to remind everyone that any new project has risks, especially projects with relatively new concepts. Don't just listen to their exaggerations, but observe, think, and study more. Don't go all in easily, and don't be overwhelmed by FOMO emotions. #USUAL #USUAL走势分析 #RWA #稳定币 #DeFi
The core of USUAL is the USD0 stablecoin, which is said to solve the problem of uneven distribution of income of the current mainstream stablecoins. They have set up a mechanism of direct minting and indirect minting, which sounds quite fancy. Direct minting is to exchange collateral directly for USD0, and indirect minting is done through DAO. The white paper says that they will accept a variety of collateral, but what are they? What is the collateral ratio? These key information are not clearly stated, which makes people have to doubt their sincerity. Collateral is the lifeblood of stablecoins. If this aspect is not done well, the stability of USD0 will be worrying.
Another key to USUAL is the USUAL token, which is said to be a governance token, and a deflation model is also set up to stimulate user participation. Old leeks have seen this routine many times, it is nothing more than trying to pull the market and cut leeks. Of course, if the project can really develop, token holders can also get a share. But the question is, how big is this "if"? At present, the RWA track is still in its early stages and faces many challenges such as supervision and technology. Whether USUAL can stand out is still unknown.
The white paper also mentions risk management, saying that technical risks, mortgage risks, and product risks must be managed. This is right. Which project does not pay attention to risks? But the real risks are often hidden in the details and cannot be solved by talking about them. Old leeks suggest that if possible, carefully study their smart contract code to see if there are any loopholes.
In short, the starting point of USUAL Protocol is good, and it wants to solve some pain points in the current stablecoin and RWA fields. But old leeks want to remind everyone that any new project has risks, especially projects with relatively new concepts. Don't just listen to their exaggerations, but observe, think, and study more. Don't go all in easily, and don't be overwhelmed by FOMO emotions. #USUAL #USUAL走势分析 #RWA #稳定币 #DeFi
Jazz Trader:
一眼用ai写的文案
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🚀SpaceX adopts a stablecoin strategy to mitigate foreign exchange volatility risks💰
Silicon Valley venture capitalist Chamath Palihapitiya revealed on the All-In podcast that SpaceX has implemented a strategy to reduce potential financial losses from international currency exchange rate fluctuations by converting revenue from "long tail countries," which refers to those from so-called "developing countries" or "emerging market countries," into stablecoins.
Starlink, as a wholly-owned subsidiary of SpaceX, provides satellite internet services to customers worldwide. SpaceX is mitigating the risks of foreign exchange fluctuations by converting Starlink's revenue into stablecoins.
Palihapitiya emphasized that stablecoins have the potential to become a primary tool for cross-border transactions in the U.S., gradually phasing out outdated banking infrastructure, which should not be the subject of taxation.
He further pointed out that stablecoin providers, such as Tether and Circle, are fiercely competing with traditional financial institutions in terms of funds storage and transfer services, even competing with payment giants like Mastercard and American Express.
Aaron Levie, CEO of enterprise cloud company Box, also supports this viewpoint, believing that it is reasonable for stablecoins to replace traditional mediums of exchange.
This strategy by SpaceX, along with Musk's preference for cryptocurrencies, also highlights the growing influence of stablecoins in global economic activities.
In summary, SpaceX's strategy not only demonstrates its foresight in financial management but also reflects the increasing influence of stablecoins in global economic activities.
With Tesla's investment in Bitcoin yielding billions in returns and the X platform exploring cryptocurrency payment capabilities, the future of stablecoins is filled with limitless possibilities.
💬 What do you think about SpaceX's strategy of using stablecoins to mitigate foreign exchange risks? Does this indicate that the role of stablecoins in the global financial system will become increasingly important?
#SpaceX #稳定币 #外汇风险 #加密货币 #马斯克
Silicon Valley venture capitalist Chamath Palihapitiya revealed on the All-In podcast that SpaceX has implemented a strategy to reduce potential financial losses from international currency exchange rate fluctuations by converting revenue from "long tail countries," which refers to those from so-called "developing countries" or "emerging market countries," into stablecoins.
Starlink, as a wholly-owned subsidiary of SpaceX, provides satellite internet services to customers worldwide. SpaceX is mitigating the risks of foreign exchange fluctuations by converting Starlink's revenue into stablecoins.
Palihapitiya emphasized that stablecoins have the potential to become a primary tool for cross-border transactions in the U.S., gradually phasing out outdated banking infrastructure, which should not be the subject of taxation.
He further pointed out that stablecoin providers, such as Tether and Circle, are fiercely competing with traditional financial institutions in terms of funds storage and transfer services, even competing with payment giants like Mastercard and American Express.
Aaron Levie, CEO of enterprise cloud company Box, also supports this viewpoint, believing that it is reasonable for stablecoins to replace traditional mediums of exchange.
This strategy by SpaceX, along with Musk's preference for cryptocurrencies, also highlights the growing influence of stablecoins in global economic activities.
In summary, SpaceX's strategy not only demonstrates its foresight in financial management but also reflects the increasing influence of stablecoins in global economic activities.
With Tesla's investment in Bitcoin yielding billions in returns and the X platform exploring cryptocurrency payment capabilities, the future of stablecoins is filled with limitless possibilities.
💬 What do you think about SpaceX's strategy of using stablecoins to mitigate foreign exchange risks? Does this indicate that the role of stablecoins in the global financial system will become increasingly important?
#SpaceX #稳定币 #外汇风险 #加密货币 #马斯克
XDOrz:
NICE
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A Century-Long Partnership Between DeFi and Traditional Finance? How Shocking is the Collaboration Between Frax and BlackRock!
Have you ever thought about the global largest asset management company BlackRock partnering with the leading DeFi project Frax Finance? This could be a historic transformation in the stablecoin market! With BlackRock's BUIDL token proposed as a reserve asset for Frax USD, the boundaries between DeFi and traditional finance are gradually dissolving. What opportunities and trends worth our attention are hidden behind this?
BlackRock and Frax: A Strong Alliance of Traditional Finance and DeFi
BlackRock's BUIDL token is its first tokenized fund, and the purpose of this proposal is not only to enhance the stability of Frax USD but also to provide it with strong credit backing. Imagine a financial giant managing $11.5 trillion in assets, directing resources toward the DeFi field! This not only enhances the market credibility of Frax USD but also brings a new development paradigm to the stablecoin market.
BlackRock and Frax: A Strong Alliance of Traditional Finance and DeFi
BlackRock's BUIDL token is its first tokenized fund, and the purpose of this proposal is not only to enhance the stability of Frax USD but also to provide it with strong credit backing. Imagine a financial giant managing $11.5 trillion in assets, directing resources toward the DeFi field! This not only enhances the market credibility of Frax USD but also brings a new development paradigm to the stablecoin market.
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Looking for the next XRP and understanding PlatON's payment landscape.
Stablecoins, as tokenized representations of fiat currency circulating on the blockchain, are undoubtedly the 'killer application' of the crypto market to date. By the end of 2024, this currency operating parallel to traditional financial infrastructure has a total market value exceeding $200 billion. With the rise of stablecoins in the past five years and their deepening integration into the global economy, the potential of blockchain as financial infrastructure will inevitably be tapped and fully utilized by the traditional financial world beyond the crypto market.
VISA believes that stablecoins are a payment innovation with the potential to provide safe, reliable, and convenient payments for more people in more places. While we are still searching for specific data on the use of stablecoins for payments, Ripple, the earliest and most seasoned blockchain payment company in the market, and its token XRP have already seen value discovery and reassessment in the market.
VISA believes that stablecoins are a payment innovation with the potential to provide safe, reliable, and convenient payments for more people in more places. While we are still searching for specific data on the use of stablecoins for payments, Ripple, the earliest and most seasoned blockchain payment company in the market, and its token XRP have already seen value discovery and reassessment in the market.
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🚀Stablecoins have become a strong "fuel" for the rebound of the crypto market, and the inflow of Tether (USDT) has increased dramatically during the bull market
In recent months, the cryptocurrency market has ushered in a strong bull market, and the massive inflow of Tether (USDT) stablecoins is undoubtedly a key factor driving this round of gains.
The recent performance of Bitcoin (BTC) has made the entire cryptocurrency market hot, and everyone is extremely bullish on the market. Against this backdrop, the sharp increase in the number of USDT inflows into exchanges cannot be a key factor in supporting the cryptocurrency bull market that has lasted for more than two months.
According to Santiment data, an average of $40 million USDT has flowed into exchanges every day over the past eight weeks. These inflows have not only driven the price surge, but also brought positive sentiment and liquidity to the market. As traders continue to allocate funds to cryptocurrencies, this stablecoin "dry powder" will continue to flow in in the final stages of 2024, and the overall market's upward momentum has further growth potential.
Despite the many participants in the stablecoin market, USDT has become the undisputed dominant force this year. A year ago, its supply was 90 billion — an impressive 50 billion increase in 12 months. USDT currently controls 66% of the $212 billion stablecoin market and will remain the top-ranked coin in terms of trading volume throughout 2024.
According to the report, stablecoins may grow from 1% to 10% of the US M2 money supply and foreign exchange trading. This is because the use of stablecoins has expanded beyond cryptocurrency trading to cross-border payments, payroll, trade settlements and remittances.
The report points out that stablecoins can solve the problem of inefficiency in the traditional financial system and provide faster and cheaper transactions. Among them, regulatory transparency is seen as a key factor in unlocking the full potential of stablecoins, especially the regulatory policies that may be introduced by the Trump administration in 2025.
In addition, the growing adoption of stablecoins in emerging markets such as Brazil and Nigeria is also expected to further drive market demand for more stablecoins.
In short, as the stablecoin market continues to develop and mature, it is expected to bring more innovation and changes to the global financial system in the future.
#加密货币 #USDT #牛市 #稳定币 #市场动态
In recent months, the cryptocurrency market has ushered in a strong bull market, and the massive inflow of Tether (USDT) stablecoins is undoubtedly a key factor driving this round of gains.
The recent performance of Bitcoin (BTC) has made the entire cryptocurrency market hot, and everyone is extremely bullish on the market. Against this backdrop, the sharp increase in the number of USDT inflows into exchanges cannot be a key factor in supporting the cryptocurrency bull market that has lasted for more than two months.
According to Santiment data, an average of $40 million USDT has flowed into exchanges every day over the past eight weeks. These inflows have not only driven the price surge, but also brought positive sentiment and liquidity to the market. As traders continue to allocate funds to cryptocurrencies, this stablecoin "dry powder" will continue to flow in in the final stages of 2024, and the overall market's upward momentum has further growth potential.
Despite the many participants in the stablecoin market, USDT has become the undisputed dominant force this year. A year ago, its supply was 90 billion — an impressive 50 billion increase in 12 months. USDT currently controls 66% of the $212 billion stablecoin market and will remain the top-ranked coin in terms of trading volume throughout 2024.
According to the report, stablecoins may grow from 1% to 10% of the US M2 money supply and foreign exchange trading. This is because the use of stablecoins has expanded beyond cryptocurrency trading to cross-border payments, payroll, trade settlements and remittances.
The report points out that stablecoins can solve the problem of inefficiency in the traditional financial system and provide faster and cheaper transactions. Among them, regulatory transparency is seen as a key factor in unlocking the full potential of stablecoins, especially the regulatory policies that may be introduced by the Trump administration in 2025.
In addition, the growing adoption of stablecoins in emerging markets such as Brazil and Nigeria is also expected to further drive market demand for more stablecoins.
In short, as the stablecoin market continues to develop and mature, it is expected to bring more innovation and changes to the global financial system in the future.
#加密货币 #USDT #牛市 #稳定币 #市场动态
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Stablecoin developer Usual has opened the airdrop for the USUAL token.
Some An will open spot trading on December 18, 2024, at 19:00 (UTC+8).
Some An will open spot trading on December 18, 2024, at 19:00 (UTC+8).
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Stablecoin developer Usual has opened the airdrop for USUAL tokens.
Certain An will open spot trading on December 18, 2024, at 19:00 (UTC+8).
Certain An will open spot trading on December 18, 2024, at 19:00 (UTC+8).
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sBTC has been launched on the Stacks mainnet
The probability of the Federal Reserve cutting interest rates by 25 basis points in December is 95.4%
Fidelity saw a net outflow of $128.2 million in FBTC yesterday
The total financing amount in the artificial intelligence sector has exceeded 82 billion yuan this year
OpenAI officially released the o1 model API, with costs down by 60%
Artificial intelligence company Databricks completed $10 billion in financing, with a valuation of $62 billion
Bloomberg: Traders are focusing on the Federal Reserve's interest rate decision
'Fat Penguin' Pudgy Penguins market cap has fallen out of the top three NFT series by market value
Hyperliquid's open contract holdings broke $4.2 billion two days ago, setting a new historical high
Floki has opened MONKY token airdrop eligibility inquiry
LTC rose 9.92% today, while STX fell 7.72%
Galaxy CEO predicts Bitcoin's market cap will surpass gold within 5 to 8 years
USDC Treasury issued an additional 50 million USDC on the Ethereum chain early this morning
The monthly fee income and active user numbers on the TRON chain have reached a historical high
ARK Invest reduced its stake in Coinbase stock by about $1.76 million yesterday
Users eligible for projects like Stakeland and BONK can receive PENGU token airdrops
Renzo has opened the third quarter airdrop claims, distributing 4% of REZ to over 80,000 addresses
A certain whale bought about $3.46 million of PENGU at an average price of $0.053, incurring a loss of over $1.6 million
Bitwise Chief Investment Officer: The U.S. Bitcoin Strategic Reserve Program could push BTC up to $500,000
Tether has issued 140 million USDT on the Aptos network in the past month
DeFi application layer Rujira completed $7 million in financing, and the TGE is expected to take place in February next year#BTC再创新高 #PENGU开盘 #币安Alpha #稳定币 #WAI
The probability of the Federal Reserve cutting interest rates by 25 basis points in December is 95.4%
Fidelity saw a net outflow of $128.2 million in FBTC yesterday
The total financing amount in the artificial intelligence sector has exceeded 82 billion yuan this year
OpenAI officially released the o1 model API, with costs down by 60%
Artificial intelligence company Databricks completed $10 billion in financing, with a valuation of $62 billion
Bloomberg: Traders are focusing on the Federal Reserve's interest rate decision
'Fat Penguin' Pudgy Penguins market cap has fallen out of the top three NFT series by market value
Hyperliquid's open contract holdings broke $4.2 billion two days ago, setting a new historical high
Floki has opened MONKY token airdrop eligibility inquiry
LTC rose 9.92% today, while STX fell 7.72%
Galaxy CEO predicts Bitcoin's market cap will surpass gold within 5 to 8 years
USDC Treasury issued an additional 50 million USDC on the Ethereum chain early this morning
The monthly fee income and active user numbers on the TRON chain have reached a historical high
ARK Invest reduced its stake in Coinbase stock by about $1.76 million yesterday
Users eligible for projects like Stakeland and BONK can receive PENGU token airdrops
Renzo has opened the third quarter airdrop claims, distributing 4% of REZ to over 80,000 addresses
A certain whale bought about $3.46 million of PENGU at an average price of $0.053, incurring a loss of over $1.6 million
Bitwise Chief Investment Officer: The U.S. Bitcoin Strategic Reserve Program could push BTC up to $500,000
Tether has issued 140 million USDT on the Aptos network in the past month
DeFi application layer Rujira completed $7 million in financing, and the TGE is expected to take place in February next year#BTC再创新高 #PENGU开盘 #币安Alpha #稳定币 #WAI
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The Future Opportunities of Cryptocurrency Payments and DeFi -- Stablecoins
In the next three months, the cryptocurrency market will be influenced by U.S. policies, pushing the crypto market to new heights. As the cryptocurrency market continues to gain popularity and maturity, stablecoins will gradually become an important role in the crypto ecosystem that cannot be ignored.
The strong interest from venture capital (VC) in this field stems not only from the high liquidity and market potential of stablecoins but also from their application prospects in cryptocurrency payments, cross-border remittances, and DeFi. Stablecoins essentially reduce volatility by anchoring to fiat currencies or other assets, thereby providing a more stable medium of exchange within the cryptocurrency market.
With the booming DeFi and increasing demand for cryptocurrency payments, the market applications of stablecoins are gradually expanding to multiple areas such as cross-border payments, trade financing, and digital payments, becoming one of the cores of fintech innovation. They have significant advantages in cross-border payments, especially in reducing transaction costs and increasing payment speeds! Compared to traditional cross-border payments, stablecoins greatly simplify the process and reduce transaction fees by bypassing banking intermediaries.
In recent years, the application of stablecoins such as USDC and USDT has gradually expanded in emerging markets like Africa and Latin America, particularly in these regions' remittance needs, where stablecoins offer a more convenient and lower-cost payment method than traditional channels. Stablecoins are not only favored by the cryptocurrency industry but have also attracted the attention of traditional financial institutions.
For example, PayPal's launch of the PYUSD stablecoin is an important move in its strategy in the cryptocurrency payment sector, aiming to expand its global payment network through stablecoins, especially in the fields of cross-border payments and e-commerce.
Although the market prospects for stablecoins are broad, the uncertainty of global regulation remains a significant challenge. The most important issue is that compliance and legality in the U.S. have not yet been truly established. However, with the new administration reforming the cryptocurrency market and establishing crypto regulations, it is believed that the compliance of stablecoins is only a matter of time! After all, stablecoins are an important component of the cryptocurrency market, and their market and space continue to expand, attracting more VC investment attention.
The future of stablecoins will also be a huge opportunity for VC investment
#稳定币
In the next three months, the cryptocurrency market will be influenced by U.S. policies, pushing the crypto market to new heights. As the cryptocurrency market continues to gain popularity and maturity, stablecoins will gradually become an important role in the crypto ecosystem that cannot be ignored.
The strong interest from venture capital (VC) in this field stems not only from the high liquidity and market potential of stablecoins but also from their application prospects in cryptocurrency payments, cross-border remittances, and DeFi. Stablecoins essentially reduce volatility by anchoring to fiat currencies or other assets, thereby providing a more stable medium of exchange within the cryptocurrency market.
With the booming DeFi and increasing demand for cryptocurrency payments, the market applications of stablecoins are gradually expanding to multiple areas such as cross-border payments, trade financing, and digital payments, becoming one of the cores of fintech innovation. They have significant advantages in cross-border payments, especially in reducing transaction costs and increasing payment speeds! Compared to traditional cross-border payments, stablecoins greatly simplify the process and reduce transaction fees by bypassing banking intermediaries.
In recent years, the application of stablecoins such as USDC and USDT has gradually expanded in emerging markets like Africa and Latin America, particularly in these regions' remittance needs, where stablecoins offer a more convenient and lower-cost payment method than traditional channels. Stablecoins are not only favored by the cryptocurrency industry but have also attracted the attention of traditional financial institutions.
For example, PayPal's launch of the PYUSD stablecoin is an important move in its strategy in the cryptocurrency payment sector, aiming to expand its global payment network through stablecoins, especially in the fields of cross-border payments and e-commerce.
Although the market prospects for stablecoins are broad, the uncertainty of global regulation remains a significant challenge. The most important issue is that compliance and legality in the U.S. have not yet been truly established. However, with the new administration reforming the cryptocurrency market and establishing crypto regulations, it is believed that the compliance of stablecoins is only a matter of time! After all, stablecoins are an important component of the cryptocurrency market, and their market and space continue to expand, attracting more VC investment attention.
The future of stablecoins will also be a huge opportunity for VC investment
#稳定币
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Is Ripple about to make a big move? The RLUSD stablecoin is coming, are you ready?
Imagine a stablecoin that is not only pegged to the US dollar but is fully backed by USD deposits, government bonds, and cash equivalents, with independent audits every month for endorsement. Would you choose such a stablecoin? 💸 On December 17th, Ripple is set to launch the RLUSD stablecoin, which is undoubtedly a major debut in the market! 🎉
News AI analysis, please visit: mlion.ai
Want to know more? Let's unlock the potential behind RLUSD together! 🔑
First, a brief overview of Ripple's background. Since its establishment in 2012, Ripple has been deeply engaged in the blockchain payment field, striving to enhance cross-border payment efficiency and has established solid partnerships with numerous global banks and financial institutions. Its flagship product, the XRP Ledger, is praised as an efficient and secure distributed ledger. Despite facing a lawsuit from the U.S. Securities and Exchange Commission (SEC), recent court rulings have provided Ripple with more development opportunities. 💪
News AI analysis, please visit: mlion.ai
Want to know more? Let's unlock the potential behind RLUSD together! 🔑
First, a brief overview of Ripple's background. Since its establishment in 2012, Ripple has been deeply engaged in the blockchain payment field, striving to enhance cross-border payment efficiency and has established solid partnerships with numerous global banks and financial institutions. Its flagship product, the XRP Ledger, is praised as an efficient and secure distributed ledger. Despite facing a lawsuit from the U.S. Securities and Exchange Commission (SEC), recent court rulings have provided Ripple with more development opportunities. 💪
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The Rise of Stablecoins: Can They Become the Future Rulers of Cryptocurrency?
Since the birth of Bitcoin in 2009, the world of cryptocurrencies has been filled with volatility and innovation. However, with the rise of stablecoins, a new trend is quietly changing the landscape of financial markets. Stablecoins not only bring revolutionary changes to the cryptocurrency market but also become an increasingly significant force in the global financial system. So, are stablecoins the future of cryptocurrencies or just a temporary phenomenon? Today, we will delve deeper into this topic.
What are stablecoins? Simplifying payments, stabilizing wealth.
In simple terms, a stablecoin is a type of digital currency whose value is pegged to traditional fiat currencies (like the US dollar) or other stable assets (like gold). The emergence of stablecoins is aimed at addressing the high volatility issues of digital currencies like Bitcoin, making them more practical for everyday payments and investments. For example, Tether (USDT) is pegged to the US dollar, with each USDT valued at 1 US dollar. In this way, investors and users can participate in global transactions and payments without worrying about significant currency fluctuations.
What are stablecoins? Simplifying payments, stabilizing wealth.
In simple terms, a stablecoin is a type of digital currency whose value is pegged to traditional fiat currencies (like the US dollar) or other stable assets (like gold). The emergence of stablecoins is aimed at addressing the high volatility issues of digital currencies like Bitcoin, making them more practical for everyday payments and investments. For example, Tether (USDT) is pegged to the US dollar, with each USDT valued at 1 US dollar. In this way, investors and users can participate in global transactions and payments without worrying about significant currency fluctuations.
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🔥 Circle and Binance join forces to promote USDC, challenging USDT's dominance
Another big move in the cryptocurrency circle! This Wednesday, Circle and Binance announced in Abu Dhabi that they will join forces to promote USDC, a stablecoin jointly owned by Circle and Coinbase, targeting Tether's USDT, aiming to challenge USDT's dominance!
The significance of this cooperation is not small. Now stablecoins are becoming more and more popular in the mainstream financial world, and everyone wants to get a piece of this market. Among them, Binance, the world's leading cryptocurrency exchange, is no exception. Binance has included USDC in all its products and services, allowing 240 million users around the world to use USDC for transactions, savings and payments.
Coinbase Vice President Shan Aggarwal congratulated the cooperation, saying that it would help increase the circulation of USDC and increase global economic freedom. Circle CEO Jeremy Allaire is also optimistic about this cooperation and thinks that Binance can make USDC a household name.
Binance CEO Richard Teng also announced that the exchange will launch more USDC trading pairs around the world and hold special promotions while exploring new uses for stablecoins.
However, the stablecoin market is still dominated by Tether's USDT, which has a market value of $138 billion, far exceeding USDC's $40 billion. Despite allegations of questionable accounting practices and links to illegal activities, Tether remains a big player in the market.
It is worth noting that Binance previously launched its own stablecoin BUSD, whose native token BUSD also has a market value of $23 billion, but ceased operations last year due to regulatory pressure. The partnership also represents Binance's commitment to regulation and compliance, and its determination to keep pace with Circle's USDC.
However, the partnership also involves a revenue-sharing arrangement among the three companies, which may complicate efforts to challenge Tether. Meanwhile, other competitors are not idle, such as Robinhood, Galaxy Digital, Kraken and Paxos, which recently formed an alliance to support Paxos' new stablecoin USDG.
It seems that the competition in the stablecoin market is becoming increasingly fierce. Let's wait and see how this stablecoin war will be fought!
#USDC #币安 #USDT #稳定币 #Circle
Another big move in the cryptocurrency circle! This Wednesday, Circle and Binance announced in Abu Dhabi that they will join forces to promote USDC, a stablecoin jointly owned by Circle and Coinbase, targeting Tether's USDT, aiming to challenge USDT's dominance!
The significance of this cooperation is not small. Now stablecoins are becoming more and more popular in the mainstream financial world, and everyone wants to get a piece of this market. Among them, Binance, the world's leading cryptocurrency exchange, is no exception. Binance has included USDC in all its products and services, allowing 240 million users around the world to use USDC for transactions, savings and payments.
Coinbase Vice President Shan Aggarwal congratulated the cooperation, saying that it would help increase the circulation of USDC and increase global economic freedom. Circle CEO Jeremy Allaire is also optimistic about this cooperation and thinks that Binance can make USDC a household name.
Binance CEO Richard Teng also announced that the exchange will launch more USDC trading pairs around the world and hold special promotions while exploring new uses for stablecoins.
However, the stablecoin market is still dominated by Tether's USDT, which has a market value of $138 billion, far exceeding USDC's $40 billion. Despite allegations of questionable accounting practices and links to illegal activities, Tether remains a big player in the market.
It is worth noting that Binance previously launched its own stablecoin BUSD, whose native token BUSD also has a market value of $23 billion, but ceased operations last year due to regulatory pressure. The partnership also represents Binance's commitment to regulation and compliance, and its determination to keep pace with Circle's USDC.
However, the partnership also involves a revenue-sharing arrangement among the three companies, which may complicate efforts to challenge Tether. Meanwhile, other competitors are not idle, such as Robinhood, Galaxy Digital, Kraken and Paxos, which recently formed an alliance to support Paxos' new stablecoin USDG.
It seems that the competition in the stablecoin market is becoming increasingly fierce. Let's wait and see how this stablecoin war will be fought!
#USDC #币安 #USDT #稳定币 #Circle
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Stablecoin Issuer Circle Plans to Move Its Legal Base from Ireland to the U.S. Ahead of IPO
Stablecoin issuer Circle, the entity backing USDC, is planning to move its legal base from Ireland to the United States ahead of its upcoming initial public offering (IPO).
The strategic relocation comes as Circle prepares for its IPO, having confidentially filed paperwork with the U.S. Securities and Exchange Commission (SEC), even as market volatility has reduced trading activity.
According to a May 15 report by Bloomberg, a Circle spokesperson confirmed that the company has filed documents with the court to re-establish itself as a legal entity, although the spokesperson did not provide further details on the matter.
The strategic relocation comes as Circle prepares for its IPO, having confidentially filed paperwork with the U.S. Securities and Exchange Commission (SEC), even as market volatility has reduced trading activity.
According to a May 15 report by Bloomberg, a Circle spokesperson confirmed that the company has filed documents with the court to re-establish itself as a legal entity, although the spokesperson did not provide further details on the matter.
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#大盘走势 #比特币减半 #稳定币 Why are so many people still losing money in this bull market? Bitcoin has risen to more than 70,000. Everyone still makes no money in the bull market, or makes little money and suffers a lot of losses. The first thing is to hold the currency. Whether you can hold it or not, the second one is that choice is very important. Don’t take a coin that has no ecological support or a coin that has no institutional support. Today I recommend a second-layer chain under Bitcoin.#Slorhas a stable community, can provide stable currency prices, and has a development team to complete Bitcoin’s largest search engine ecosystem. Welcome to leave a message for discussion...
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[Injective has integrated with Paypal's stablecoin PYUSD]
🥇 Become one of the first L1s to support stablecoins issued by PayPal and Paxos.
Users can use wormhole to transfer from Ethereum and Solana to Injective via PYUSD, and dApps on the network can use PYUSD for fast payments, transactions, DeFi, etc.
#INJ #Injective #稳定币 $INJ
🥇 Become one of the first L1s to support stablecoins issued by PayPal and Paxos.
Users can use wormhole to transfer from Ethereum and Solana to Injective via PYUSD, and dApps on the network can use PYUSD for fast payments, transactions, DeFi, etc.
#INJ #Injective #稳定币 $INJ
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What happened to PayPal’s stablecoin PYUSD after it was launched last year?
PayPal Stablecoin PYUSD Market Cap Hits $300 Million in Five Months
PayPal’s entry into the stablecoin market on August 7, 2023 was welcomed by many in the industry, with Circle CEO Jeremy Allaire saying that competition from PayPal was “great.”
News of the launch caused a slight 4% jump in Bitcoin prices, and within days the exchange was offering low-fee promotional opportunities to traders willing to use PayPal's PYUSD.
Coinbase, Kraken and HTX had listed the stablecoin before the end of August, with Venmo support added a month later.
Five months after its launch, PYUSD now occupies the eighth position on the global stablecoin chart and surpassed the $300 million mark around January 22. However, in order of trading volume, PYUSD fell to eleventh place overall, with only $10 million in 24-hour trading volume. That puts it just slightly ahead of UST Classic, which is trading 98% below its original $1 peg and has seen just $500,000 less in trading volume over the past day.
PayPal’s entry into the stablecoin market on August 7, 2023 was welcomed by many in the industry, with Circle CEO Jeremy Allaire saying that competition from PayPal was “great.”
News of the launch caused a slight 4% jump in Bitcoin prices, and within days the exchange was offering low-fee promotional opportunities to traders willing to use PayPal's PYUSD.
Coinbase, Kraken and HTX had listed the stablecoin before the end of August, with Venmo support added a month later.
Five months after its launch, PYUSD now occupies the eighth position on the global stablecoin chart and surpassed the $300 million mark around January 22. However, in order of trading volume, PYUSD fell to eleventh place overall, with only $10 million in 24-hour trading volume. That puts it just slightly ahead of UST Classic, which is trading 98% below its original $1 peg and has seen just $500,000 less in trading volume over the past day.
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Solana stablecoin transfer volume hits a monthly high of $300B
Stablecoin transfer volume on Solana’s layer 1 blockchain has grown steadily, setting a new record in January.
Stablecoin transfers on Solana surpassed $300 billion in January, according to blockchain analytics platform Artemis.
This number has exceeded the Solana stablecoin transfer volume of $297 billion in December 2023.
Additionally, stablecoin transfers so far in January are $303 billion, a 2,520% increase from the $11.56 billion stablecoin transfers in January 2023.
Solana’s stablecoin market share now stands at nearly 32%, a significant increase from its 1.2% share a year ago.
Stablecoin transfers on Solana surpassed $300 billion in January, according to blockchain analytics platform Artemis.
This number has exceeded the Solana stablecoin transfer volume of $297 billion in December 2023.
Additionally, stablecoin transfers so far in January are $303 billion, a 2,520% increase from the $11.56 billion stablecoin transfers in January 2023.
Solana’s stablecoin market share now stands at nearly 32%, a significant increase from its 1.2% share a year ago.
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BUSD stablecoin dominance shifts as regulatory challenges ease
This article briefly:
•Two prominent stablecoins, BUSD and USDC, have had different fates due to regulatory scrutiny.
•Circle’s USDC experienced its first supply increase in over 10 months, marking a significant shift.
• On the other hand, Binance’s BUSD is facing a sharp decline and the supply is close to being exhausted.
USD Coin (USDC) and Binance USD (BUSD) have had very different fates. USDC has experienced a significant upward trend, rebounding from the U.S. banking crisis, while BUSD is facing a severe supply shortage.
The disparity highlights shifts within the stablecoin market, particularly affected by the regulatory challenges encountered over the past year.
•Two prominent stablecoins, BUSD and USDC, have had different fates due to regulatory scrutiny.
•Circle’s USDC experienced its first supply increase in over 10 months, marking a significant shift.
• On the other hand, Binance’s BUSD is facing a sharp decline and the supply is close to being exhausted.
USD Coin (USDC) and Binance USD (BUSD) have had very different fates. USDC has experienced a significant upward trend, rebounding from the U.S. banking crisis, while BUSD is facing a severe supply shortage.
The disparity highlights shifts within the stablecoin market, particularly affected by the regulatory challenges encountered over the past year.