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November marked a milestone for stablecoins, with trading volume on centralized exchanges rising by 77.5% to $1.81 trillion, according to a CCData report on Nov. 27. This surge, fueled by growing institutional confidence, positions stablecoins for a yearly high in trading volumes as market activity intensifies.Market Capitalization Reaches Record HighsStablecoin Market OverviewTotal Market Cap: $190 billion, up 9.94%, exceeding the April 2022 high of $188 billion.Market Dominance: Dropped to 5.54% from 7.22% in October as traders diversified into Bitcoin and altcoins.Top PerformersTether (USDT): Market cap grew 10.5% to $133 billion, retaining 69.9% dominance.USD Coin (USDC): Market cap rose 12.1% to $38.9 billion, its highest level since February 2023.Ethena Labs’ USDe: Recorded a 42.2% growth to $3.86 billion, driven by heightened interest in Ethena’s ecosystem.Winners and Losers in the Stablecoin MarketRising StarsUSDe: Surged due to Ethena’s proposal to activate revenue sharing for tokenholders, offering a competitive 21.2% APY.Declining StablecoinsFirst Digital USD (FDUSD): Market cap dropped 14.9% to $1.90 billion.Sky Dollar (USDS): Formerly Dai, fell 8.34% to $950 million.What’s Driving the Stablecoin Surge?The stablecoin market’s growth is tied to several factors:Institutional Confidence: Increased adoption in the digital assets sector.Diversified Strategies: Traders seek stable returns through high-APY offerings like USDe.Market Resilience: Despite broader crypto market volatility, stablecoins provide a hedge and liquidity source.Outlook for StablecoinsStablecoins are set to remain a cornerstone of the crypto market as institutional participation grows and ecosystems like Ethena expand their offerings. However, declining market dominance suggests a shift toward diversification in digital asset portfolios, according to Cointelegraph.

Stablecoins are increasingly recognized for their potential to revolutionize global commerce. However, they currently represent just 0.2% of e-commerce transactions, according to a report published by Quinlan & Associates and IDA on Nov. 27. The study highlights the scarcity of non-USD stablecoins as a significant obstacle to broader adoption.Stablecoins’ Untapped PotentialCurrent UsageCryptocurrencies, including stablecoins, contribute a mere 0.2% to global e-commerce transaction value.Stablecoins like Tether (USDt) and USD Coin (USDC) dominate the $200 billion market cap but are overwhelmingly pegged to the U.S. dollar.Barriers to AdoptionRegulatory Uncertainty: Over 81% of merchants cite unclear regulations as a barrier to accepting stablecoins for payments.Lack of Non-USD Options: With 83% of countries not using USD as their primary or secondary currency, there’s a growing demand for stablecoins pegged to other currencies.The Case for Non-USD StablecoinsMarket GapApproximately 40% of global payments are conducted in non-USD currencies, highlighting the need for alternative stablecoins.IDA plans to launch a stablecoin pegged to the Hong Kong dollar to facilitate cross-border payments between Hong Kong and global markets.Benefits of StablecoinsAccording to IDA co-founder Lawrence Chu, stablecoins offer:Cost efficiency and 24/7 availability.Enhanced transparency and programmability over traditional financial systems.Growing Demand and Regulation (H2)Impact on US Treasury BondsThe U.S. Treasury Department reports that stablecoins backed by Treasury bills have modestly increased demand for short-term government securities.Legislative OutlookFormer Senator Pat Toomey suggests that stablecoin regulations could advance by 2025, focusing on reserve requirements and jurisdictional clarity.Key legislation includes Senator Bill Hagerty’s Clarity for Payment Stablecoins Act, which aims to address regulatory challenges.Conclusion: Unlocking Stablecoin Potential with Non-USD OptionsThe report underscores the untapped potential of stablecoins in global commerce, emphasizing the need for diversification beyond USD-backed options. As regulatory clarity improves and alternative stablecoins emerge, the adoption of digital assets in mainstream payments may accelerate, reshaping the global financial landscape.

According to U.Today, Cardano (ADA) has regained the significant psychological level of $1 during today's trading session in the cryptocurrency market. Since the beginning of the month, ADA's price has surged by 193%, tripling its value from early November. Cardano remains a popular cryptocurrency, ranking ninth among the largest by market capitalization, with a daily trading volume exceeding $2.5 billion, as reported by CoinMarketCap.This recent price movement has sparked curiosity among market participants about the future trajectory of ADA. Despite the inherent unpredictability of the crypto market, certain indicators, such as the Fibonacci sequence, can offer insights into potential price directions. Analysts utilizing the Fibonacci indicator suggest that if Cardano continues its upward momentum, the next significant target could be $2.453, aligning with the 1.618 Fibonacci level. Should this level be surpassed, the subsequent target would be the 2.618 Fibonacci level at $8.30. These levels are crucial as they often align with zones of heightened buying or selling activity, influencing price trends.While these projections remain speculative, the recent reclaiming of the $1 mark indicates renewed interest and optimism in Cardano. If favorable conditions persist, further gains could be anticipated.

According to Cointelegraph, institutions are showing reluctance in adopting Web3 technologies due to the transparency inherent in public, permissionless blockchains. Avidan Abitbol, the project director for the Data Ownership Protocol (DOP) privacy solution, highlighted that zero-knowledge technology offers a solution through selective disclosure. Abitbol explained that transparency poses risks such as theft, increased targeting by scammers, and disadvantages during business negotiations. He noted that institutions prefer to keep details like payments, workflows, and financial balances private, as these are crucial to their operations and strategies.The transparency of blockchain can also lead to market risks, as traders might use the transaction data of large institutions to influence asset prices. This issue of transparency hindering institutional adoption is not new. In September 2024, Paul Brody, the global blockchain leader at EY, emphasized the need for privacy to protect institutional operations. Brody pointed out that the lack of privacy on blockchains affects not only corporate finance but also sectors like healthcare, where confidentiality is critical.In response to these concerns, Chainlink introduced private transaction features for institutions in October 2024. This suite includes the Blockchain Privacy Manager and the CCIP Private Transactions encryption tool. The Australia and New Zealand Banking Group (ANZ Bank) was among the first to test these privacy features for settling tokenized asset transactions. Furthermore, blockchain transparency exacerbates issues related to maximal extractable value (MEV), where miners or validators manipulate transaction orders within a block for economic gain. This manipulation involves reordering transactions to maximize fees and front-run other market participants through arbitrage strategies. Data obfuscation and privacy-enhancing solutions are seen as potential mitigators of these challenges.

According to Odaily, Tether's CEO Paolo Ardoino has projected significant growth for the company's liquidity pool, established for raw material financing transactions. By 2026, this pool is expected to expand to between $3 billion and $5 billion. This follows Tether's recent involvement in financing an oil transaction valued at approximately $45 million in October of this year.Tether Investments is strategically planning to extend financial loans to commodity brokers, aiming to generate interest income from these temporary financing arrangements. This initiative marks a significant step in Tether's expansion into the commodities financing sector, reflecting a broader trend of cryptocurrency firms diversifying their financial services. The move is anticipated to enhance Tether's role in the global financial ecosystem, leveraging its stablecoin's utility beyond traditional cryptocurrency transactions.

According to CoinDesk, the CoinDesk 20 Index experienced a notable increase, trading at 3293.73, which marks a 3.9% rise, equivalent to a gain of 125.0 points since 4 pm ET on Tuesday. This positive trend reflects an upward movement across all 20 assets included in the index.The CoinDesk 20 Index serves as a comprehensive measure of the cryptocurrency market, encompassing a diverse range of assets traded on various platforms worldwide. Among the top performers, LINK saw an increase of 0.9%, while NEAR rose by 0.4%. These assets led the upward trend, contributing to the overall positive performance of the index.Conversely, some assets did not fare as well. ICP experienced a decline of 5.3%, and RNDR fell by 4.1%, marking them as the laggards in the index. Despite these declines, the overall performance of the CoinDesk 20 Index remains positive, indicating a strong market presence and resilience across the board.

According to Binance Market Data, Bitcoin (BTC) crossed the 95,000 USDT benchmark and is now trading at 95,025.4375 USDT, with a 2.33% increase in 24 hours.

According to U.Today, Jed McCaleb, founder of the Stellar Development Foundation, recently emphasized the distinct differences between Stellar and Ripple. McCaleb clarified that Stellar operates with a unique codebase, consensus mechanism, and features, including smart contracts, setting it apart from Ripple. This statement came in response to comments made by Cardano founder Charles Hoskinson, who criticized Solana during a recent livestream.Hoskinson also expressed concerns about the Wyoming Stable Token Commission's decision-making, suggesting bias against Cardano. Stellar, however, was included in the networks considered for the initial deployment of Wyoming's state-backed WYST stablecoin project. Hoskinson questioned the criteria used, implying that Stellar's capabilities were being recognized over Ripple's. He also noted that Anthony Apollo, the executive director of the Wyoming Stable Token Commission, previously worked with Ethereum development firm Consensys, hinting at potential conflicts with Ripple.In related developments, the Stellar (XLM) token has seen significant growth, reaching multi-year highs. This surge is attributed to its strong correlation with Ripple-affiliated XRP, as both are often viewed in a similar context within the crypto market. Earlier this week, McCaleb described Stellar as "the most underrated and least understood crypto project," highlighting its high transaction volume. He noted that Stellar processes more daily transactions than most networks, including Ethereum, and is actively used for real-world applications.

According to U.Today, Charles Schwab, a prominent asset management firm with $7.13 trillion under management, is preparing to enter the cryptocurrency trading market. A spokesperson for the company indicated that Schwab is poised to launch crypto trading services once there is sufficient regulatory clarity. This move aligns with a growing trend among asset management firms to offer cryptocurrency products to their clients, driven by increasing demand.Charles Schwab's incoming CEO, Rick Wurster, has expressed the firm's intention to "Schwabize the crypto market" by eliminating spreads and commissions, thereby providing clients with more favorable trading conditions. While the firm has not yet provided an official update on its crypto strategy, it is actively monitoring market trends and regulatory developments. The company's approach to crypto trading is expected to be significant, given its size and influence in the financial sector.The broader digital currency ecosystem is witnessing increased participation from institutional investment firms, each adopting different strategies to engage with the market. Some firms, like MicroStrategy, have opted to purchase Bitcoin directly from the open market, while others have pursued the spot Bitcoin ETF route. Asset managers such as Susquehanna International Group have chosen to gain exposure to Bitcoin through ETF offerings, which have helped bridge the gap between cryptocurrencies and traditional financial markets.As Charles Schwab considers its entry into the crypto space, it remains uncertain how the firm will navigate the spot Bitcoin ETF niche. However, with the approval of options products for cryptocurrency offerings, the potential for Schwab to expand its crypto services is increasing. The firm's commitment to the crypto industry is seen as a significant development, reflecting the growing acceptance and integration of digital currencies into mainstream financial services.

Tether has decided to discontinue support for its euro-pegged stablecoin, EUR₮ (EURT). The company announced on Nov. 27 that it would cease all minting of EUR₮ tokens across blockchains and has urged holders to redeem their assets by Nov. 25, 2025.This decision aligns with Tether’s strategy to adapt to evolving regulatory frameworks in Europe, particularly the Markets in Crypto-Assets Regulation (MiCA), expected to come into full force by late 2024.Details on EUR₮ DiscontinuationKey AnnouncementsNo New Issuance: The last EUR₮ acquisition request was processed in 2022, and no new issuance requests are accepted.Redemption Deadline: EUR₮ holders have until November 2025 to redeem their tokens.Market Impact EUR₮ currently has a $27 million market cap, representing only 0.02% of USD₮'s market dominance.The decision reflects limited community interest in EUR₮ and Tether's focus on prioritizing other initiatives.Regulatory Challenges Driving the DecisionTether’s move comes as Europe tightens stablecoin regulations under MiCA. The company highlighted the need for a “risk-averse framework” that fosters innovation while ensuring user protection.Tether CEO Paolo Ardoino has criticized MiCA, suggesting that the framework poses “systemic banking risks” for stablecoins. Until a more stable regulatory environment emerges, Tether plans to focus on alternative initiatives.Tether's Future in StablecoinsInvestments in MiCA-Compliant ProjectsTether remains committed to supporting new projects that comply with MiCA regulations. Notable efforts include:EURQ and USDQ stablecoins by Dutch fintech Quantoz Payments.The Hadron tool, a Tether-designed technology solution that simplifies stablecoin creation while ensuring compliance and robust blockchain interaction.Strategic Focus“Through investments in innovative projects, Tether is redefining financial possibilities, creating tools that foster a stable and inclusive ecosystem,” the company stated.A Shift in StrategyTether’s discontinuation of EUR₮ reflects a broader strategic pivot toward compliance and innovation in a rapidly evolving regulatory landscape. While EUR₮ users have a one-year window to redeem tokens, Tether’s investments in MiCA-compliant stablecoins signal its ongoing commitment to shaping the future of finance.

According to Foresight News, decentralized derivatives trading platform Hyperliquid has identified over 27,000 addresses operated by approximately 100 individuals attempting to gain disproportionate points through large-scale and systematic activities. In response to this behavior, Hyperliquid has implemented measures to adjust the points for these addresses, multiplying them by either 2% or 20%, depending on the extent of the Sybil activity. Affected addresses will be marked with 'Sybil Activity Detected' on the points page.Hyperliquid has allocated 8 million points for activities in May and 8.4 million points for activities in October and early November, bringing the total points to 57.9 million. This move is part of Hyperliquid's efforts to maintain fairness and integrity within its platform by addressing and mitigating manipulative behaviors that could undermine the system's balance. The platform's actions highlight the ongoing challenges faced by decentralized systems in ensuring equitable participation and preventing exploitation by a small number of users.

According to BlockBeats, on November 27, SlowMist issued a security alert regarding the AI-driven social aggregation platform OceansGallerie, which operates on the SUI network. The platform is currently considered to be at high risk, with suspicions of a potential rug pull. Users are advised to exercise increased caution when interacting with the platform. 

According to BlockBeats, data from Dune reveals that the total value locked (TVL) on the Base mainnet has exceeded $3.85 billion, reaching $3.852 billion as of November 27. This milestone highlights the growing adoption and utilization of the Base network, reflecting increased confidence and investment in its ecosystem.

According to Foresight News, the blockchain regulatory-free zone in Busan, South Korea, has had its designation period extended by three years, now set to last until 2027. Initially established in 2019, this zone is the only one of its kind in South Korea, designed to foster the development of various projects utilizing blockchain technology.  

According to BlockBeats, Whale Alert has reported that the USDC Treasury recently minted 50 million USDC on the Ethereum blockchain. This transaction was detected just a minute before the report was released, highlighting the ongoing activity and liquidity management by the USDC Treasury. 

According to Foresight News, ChainUp's subsidiary, ChainUp Cryptsafe Pte. Ltd., has received an exemption from the Monetary Authority of Singapore (MAS), allowing it to provide digital asset custody services in Singapore. This development marks a significant milestone for the company as it joins the ranks of approved institutions authorized to offer such services in the region.

According to PANews, BBC investigative journalist specializing in Kremlin affairs has reported that the missing 'Crypto Queen' Ruja Ignatova might be hiding in Russia to evade criminal charges. Yoran Tsalov, who also works with Bellingcat, revealed to the media that Ignatova has connections with multiple individuals and interest groups within the Kremlin.Tsalov claims these connections were confirmed during an interview with Ignatova's former security advisor, Frank Schneider, as part of the BBC's investigation and podcast series on the 'Missing Crypto Queen.' Schneider, a former Swiss spy, later founded a private investigation firm and was employed by OneCoin. Due to his involvement with the operation, he was placed under house arrest in France and subsequently went on the run in 2023. Additionally, Tsalov asserts that the ongoing BBC investigation has verified that some companies involved in laundering money through OneCoin have ties to former pro-Russian Ukrainian President Viktor Yanukovich, who is currently living in exile in Russia.OneCoin was launched in 2014, and Ignatova defrauded investors worldwide through a $4 billion Ponzi scheme until the scam collapsed in 2017, after which she disappeared. Her last known appearance was in 2017 when she boarded a flight from Bulgaria to Athens, Greece, and she has since been listed among the FBI's Ten Most Wanted Fugitives.

According to BlockBeats, Ethereum co-founder Vitalik Buterin has made a significant donation to the cryptocurrency think tank Coin Center. On November 27, on-chain data revealed that Buterin transferred 320 ETH, valued at approximately $1.06 million, to the organization just 26 minutes before the report. This donation underscores Buterin's ongoing support for initiatives that advocate for the cryptocurrency industry and its regulatory environment.

According to BlockBeats, on November 27, Pump Science issued a warning on social media regarding a security breach involving their wallet. The company reported that attackers have been issuing additional tokens from the compromised wallet. Pump Science clarified that these tokens were not created by their team and emphasized that the wallet had been breached.The company reiterated that none of the tokens released from the compromised wallet were issued by their team, labeling them as fraudulent. Pump Science urged users not to trust the information on the PSCIENCE profile page, highlighting the importance of vigilance in the wake of the breach.