stablecoins
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🚨 Stablecoin Liquidity: The Key to Bitcoin's Future! 💸📈
USDT market cap growth is near 0%, down from 6.6% in March when #BTC topped $70K. 📉💰
This slowdown in stablecoin liquidity could be holding back further price increases for #Bitcoin . 📊🔒
To unlock the full potential of Bitcoin's price rally, it's crucial for #stablecoins liquidity to pick up the pace! 🚀🌕
Faster growth in stablecoin liquidity not only provides a stable base for crypto trading but also fuels the demand for #Bitcoin and other cryptocurrencies. 💎🔐
So, keep an eye on stablecoin market cap growth, as it could be the key to #Bitcoin next leg up! 📈💪
USDT market cap growth is near 0%, down from 6.6% in March when #BTC topped $70K. 📉💰
This slowdown in stablecoin liquidity could be holding back further price increases for #Bitcoin . 📊🔒
To unlock the full potential of Bitcoin's price rally, it's crucial for #stablecoins liquidity to pick up the pace! 🚀🌕
Faster growth in stablecoin liquidity not only provides a stable base for crypto trading but also fuels the demand for #Bitcoin and other cryptocurrencies. 💎🔐
So, keep an eye on stablecoin market cap growth, as it could be the key to #Bitcoin next leg up! 📈💪
Flair DeX announced the phase 1 of incentivized testnet. Flair Dex is a decentralised exchange and automated market marker focused on providing efficient token swaps and deep liquidity for #stablecoins and other assets.
#crypto2023 #DeFi #dyor
#crypto2023 #DeFi #dyor
"Well, bitcoin has stabilized almost exactly at $14 a coin. I'm tired of waiting for a jump, so I'm taking a loss and getting my money back."
In 2011 this guy took a loss on BTC, at $14 a piece, because he got tired of waiting for Bitcoin to go up. #BTC #stablecoins #inflation
In 2011 this guy took a loss on BTC, at $14 a piece, because he got tired of waiting for Bitcoin to go up. #BTC #stablecoins #inflation
As #stablecoins become more widely adopted, there is a growing need for regulation to ensure their stability and protect consumers.
The lack of a clear regulatory framework for them has raised concerns among policymakers, highlighting the need for it.
The lack of a clear regulatory framework for them has raised concerns among policymakers, highlighting the need for it.
Despite their advantages, #stablecoins are not without risks.
Centralized stablecoins, where a single entity controls the stablecoin, are vulnerable to hacks and cyber attacks.
There are also concerns about transparency and the true value of the backing asset.
Centralized stablecoins, where a single entity controls the stablecoin, are vulnerable to hacks and cyber attacks.
There are also concerns about transparency and the true value of the backing asset.
Diversification is needed when it is too late for it.
You can diversify your #stablecoins into different:
1) Tokens 🪙
2) Protocols 🏦
3) Chains 🔗
4) Strategies (to earn on your tokens) ♟️
This will prepare you for another market crash.
You can diversify your #stablecoins into different:
1) Tokens 🪙
2) Protocols 🏦
3) Chains 🔗
4) Strategies (to earn on your tokens) ♟️
This will prepare you for another market crash.
Singapore's Monetary Authority Consults Ripple on Stablecoin Regulations"
MAS seeks #Ripple’s feedback before concluding new #stablecoins regulations to ensure value stability.
Read more on: https://thecryptobasic.com/2023/08/21/monetary-authority-of-singapore-seeks-input-from-ripple-on-stablecoin-rules-for-enhanced-market-stability/
#XRP #crypto
Read more on: https://thecryptobasic.com/2023/08/21/monetary-authority-of-singapore-seeks-input-from-ripple-on-stablecoin-rules-for-enhanced-market-stability/
#XRP #crypto
- #Addresses suspected to be linked to Abraxas Capital deposited 58 million stablecoins on multiple cryptocurrency exchanges (CEXs).
- These addresses, starting with 0x0f1d, previously collateralized substantial ETH and BTC on Compound and Aave, borrowing stablecoins.
- The deposits of millions of #stablecoins into CEXs by these addresses suggest a positive outlook on the current market.
- This activity might indicate a potential #bullish trend in the market.
- Stakeholders and #market participants should closely monitor these developments to make well-informed decisions within the dynamic #cryptocurrency landscape.
$BTC $ETH $AAVE
- These addresses, starting with 0x0f1d, previously collateralized substantial ETH and BTC on Compound and Aave, borrowing stablecoins.
- The deposits of millions of #stablecoins into CEXs by these addresses suggest a positive outlook on the current market.
- This activity might indicate a potential #bullish trend in the market.
- Stakeholders and #market participants should closely monitor these developments to make well-informed decisions within the dynamic #cryptocurrency landscape.
$BTC $ETH $AAVE
📊 $BTC | $ETH and #stablecoins hit their highest dominance level since Feb 2021, accounting for 80.5% of the $1T total #crypto market cap.
As US regulation tightens, investors are seeking refuge in these major digital assets.
As US regulation tightens, investors are seeking refuge in these major digital assets.
📊 Out of 35 countries, only six had rules for stablecoins in 2023, as per PwC’s analysis. 🇨🇭 🇯🇵 Switzerland and Japan were among the countries leading this initiative.
#cryptonews #stablecoins #switzerland #japan
#cryptonews #stablecoins #switzerland #japan
#BinanceUs The problem with the withdrawal of US #dollars has been solved by US, a #cryptocurrency exchange with a US presence.
-BinanceUs The US has fixed the #USD withdrawal problems but issues future difficulties may arise.
-Banks may stop offering the USD withdrawal service.
-Resubmitting requests is encouraged, and clients should think about using #stablecoins for crypto-to-crypto trade.
-BinanceUs The US has fixed the #USD withdrawal problems but issues future difficulties may arise.
-Banks may stop offering the USD withdrawal service.
-Resubmitting requests is encouraged, and clients should think about using #stablecoins for crypto-to-crypto trade.
🔥 Bitcoin proves itself once again as the #CryptoKing! 🚀
With the carnage in the Altcoin market, BTC Dominance is in full swing. #bitcoin dominates nearly 50% of the $1T crypto market.
Investors are choosing the Titan over turmoil and going out of the market waiting in #stablecoins
With the carnage in the Altcoin market, BTC Dominance is in full swing. #bitcoin dominates nearly 50% of the $1T crypto market.
Investors are choosing the Titan over turmoil and going out of the market waiting in #stablecoins
Key Trends in Crypto Regulatory and Policy Landscape by Elliptical
The first Elliptical blog post of 2024 highlights key developments and trends in #crypto regulatory and policy for the year 2024. The US SEC's approval of 11 spot #BitcoinETFs is seen as a positive step, offering hope for clearer regulatory developments in the country. The top five trends to watch in 2024 include:
1. Stablecoins Regulation: The opportunities and risks of #stablecoins will be a focal point, especially with new requirements for stablecoin issuers in the European Union coming into effect. Financial crime risks associated with stablecoins will also be a priority on the international agenda.
2. Leading Crypto Hubs: Paris, Dubai, and Hong Kong are identified as leading hubs for well-regulated crypto activity. These cities are expected to entrench their status in 2024, providing clarity in regulatory frameworks, though with high standards for market participants.
3. US Regulatory Uncertainty: The US is predicted to remain uncertain due to structural factors, jurisdictional entanglements, and legislative challenges. Despite this, institutional players are expected to drive progress in opening up the US financial sector to greater crypto-related innovation.
4. DeFi in the Spotlight: 2024 will be crucial for decentralized finance ( #DeFi ), with regulators focusing on aligning efforts globally to address perceived challenges. The year will determine if the DeFi space can be made compatible with regulation while remaining decentralized and innovative.
5. AI and Crypto Fusion: There will be increasing regulatory discussion around the potential fusion of artificial intelligence (AI) and crypto. Innovators envision the convergence of #AI and blockchain technologies, prompting regulators to scrutinize the risks and issues associated with this convergence. The EU's proposed AI Act is mentioned as a regulatory framework similar to MiCA, governing both AI and crypto.
Overall, 2024 is expected to be a defining year for the crypto industry, with a spotlight on stablecoins, leading crypto hubs, US regulatory challenges, DeFi, and the potential fusion of AI and crypto.
1. Stablecoins Regulation: The opportunities and risks of #stablecoins will be a focal point, especially with new requirements for stablecoin issuers in the European Union coming into effect. Financial crime risks associated with stablecoins will also be a priority on the international agenda.
2. Leading Crypto Hubs: Paris, Dubai, and Hong Kong are identified as leading hubs for well-regulated crypto activity. These cities are expected to entrench their status in 2024, providing clarity in regulatory frameworks, though with high standards for market participants.
3. US Regulatory Uncertainty: The US is predicted to remain uncertain due to structural factors, jurisdictional entanglements, and legislative challenges. Despite this, institutional players are expected to drive progress in opening up the US financial sector to greater crypto-related innovation.
4. DeFi in the Spotlight: 2024 will be crucial for decentralized finance ( #DeFi ), with regulators focusing on aligning efforts globally to address perceived challenges. The year will determine if the DeFi space can be made compatible with regulation while remaining decentralized and innovative.
5. AI and Crypto Fusion: There will be increasing regulatory discussion around the potential fusion of artificial intelligence (AI) and crypto. Innovators envision the convergence of #AI and blockchain technologies, prompting regulators to scrutinize the risks and issues associated with this convergence. The EU's proposed AI Act is mentioned as a regulatory framework similar to MiCA, governing both AI and crypto.
Overall, 2024 is expected to be a defining year for the crypto industry, with a spotlight on stablecoins, leading crypto hubs, US regulatory challenges, DeFi, and the potential fusion of AI and crypto.
- Bank of America's research report suggests that PayPal's new stablecoin, PayPal USD (#PYUSD ), is unlikely to gain significant adoption in the short term.
- Despite offering payment efficiencies and improved customer experiences, PYUSD faces competition from central bank #digital #currencies (CBDCs) and yield-bearing stablecoins in the long run.
- Yield-bearing stablecoins with rates over 5% are expected to become more attractive compared to non-yield bearing options like #USDT and USDC.
- Investors are expected to prefer safe and easily accessible #stablecoins on major trading platforms, regardless of the specific choice.
- The launch of PYUSD is not projected to bring rapid regulatory clarity or alter systemic risk in traditional markets, according to Bank of America.
- PYUSD could encounter regulatory challenges if stablecoin issuance becomes restricted to banks.
- PayPal's entry into the stablecoin market targets blockchain-enabled asset transfers, payments, and remittances in untapped areas.
- The report indicates that widespread adoption of PYUSD might be gradual due to competition and possible regulatory obstacles.
$BTC $BNB $ETH
- Despite offering payment efficiencies and improved customer experiences, PYUSD faces competition from central bank #digital #currencies (CBDCs) and yield-bearing stablecoins in the long run.
- Yield-bearing stablecoins with rates over 5% are expected to become more attractive compared to non-yield bearing options like #USDT and USDC.
- Investors are expected to prefer safe and easily accessible #stablecoins on major trading platforms, regardless of the specific choice.
- The launch of PYUSD is not projected to bring rapid regulatory clarity or alter systemic risk in traditional markets, according to Bank of America.
- PYUSD could encounter regulatory challenges if stablecoin issuance becomes restricted to banks.
- PayPal's entry into the stablecoin market targets blockchain-enabled asset transfers, payments, and remittances in untapped areas.
- The report indicates that widespread adoption of PYUSD might be gradual due to competition and possible regulatory obstacles.
$BTC $BNB $ETH
News Incoming- #Snook Expands to #Arbitrum , Launches $USDC Rewards and More
Web3 online multiplayer game Snook is expanding to Arbitrum. Snook seeks to make its game more accessible with this transition. Snook plans to use one of the world’s most popular #stablecoins to fuel its in-game economy.
Blockchain gaming remains a dynamic force in the crypto landscape, projected to reach a $85 billion market cap by 2030. However, activity in the industry has recently stagnated, with many projects revisiting their strategies. Snook, on the other hand, is boldly forging ahead and charting a new course for the sector by providing new opportunities to its players.
Snook Moves to Arbitrum
In an exciting development, Snook, an NFT-based online multiplayer game, has announced that it is expanding to the Arbitrum blockchain, bringing new benefits and perks to its dedicated user base.
Following its launch on the Ethereum Layer-2 network, Snook players will gain unprecedented freedom to choose their preferred chain based on trends, gas fees, and other factors.
Web3 online multiplayer game Snook is expanding to Arbitrum. Snook seeks to make its game more accessible with this transition. Snook plans to use one of the world’s most popular #stablecoins to fuel its in-game economy.
Blockchain gaming remains a dynamic force in the crypto landscape, projected to reach a $85 billion market cap by 2030. However, activity in the industry has recently stagnated, with many projects revisiting their strategies. Snook, on the other hand, is boldly forging ahead and charting a new course for the sector by providing new opportunities to its players.
Snook Moves to Arbitrum
In an exciting development, Snook, an NFT-based online multiplayer game, has announced that it is expanding to the Arbitrum blockchain, bringing new benefits and perks to its dedicated user base.
Following its launch on the Ethereum Layer-2 network, Snook players will gain unprecedented freedom to choose their preferred chain based on trends, gas fees, and other factors.
Could Bitcoin Reach $80,000 in 2024? 😱
In 2024, Bitwise and Circle's CEOs anticipate explosive growth in #stablecoins , foreseeing them surpassing Visa's settlement volume, driven by the demand for digital dollars.
Bitwise projects stablecoin trading to exceed $137 billion, rising from near-zero in the past four years, while Van Eck predicts a $200 billion market cap by the end of the next year.
Bitwise also forecasts #Bitcoin hitting $80,000 with the launch of a spot ETF and the halving event as catalysts. Varied predictions for Bitcoin's price range from $100,000 to even $1 million, with Bitwise speculating its ETF to amass $72 billion.
Ethereum is expected to double revenue to $5 billion, aided by upgrades reducing #gas costs. Coinbase is poised for a significant revenue surge, potentially surpassing Wall Street expectations tenfold amidst the 2024 bull market.
#Binance
#crypto2023
In 2024, Bitwise and Circle's CEOs anticipate explosive growth in #stablecoins , foreseeing them surpassing Visa's settlement volume, driven by the demand for digital dollars.
Bitwise projects stablecoin trading to exceed $137 billion, rising from near-zero in the past four years, while Van Eck predicts a $200 billion market cap by the end of the next year.
Bitwise also forecasts #Bitcoin hitting $80,000 with the launch of a spot ETF and the halving event as catalysts. Varied predictions for Bitcoin's price range from $100,000 to even $1 million, with Bitwise speculating its ETF to amass $72 billion.
Ethereum is expected to double revenue to $5 billion, aided by upgrades reducing #gas costs. Coinbase is poised for a significant revenue surge, potentially surpassing Wall Street expectations tenfold amidst the 2024 bull market.
#Binance
#crypto2023
China's State-Owned Greenland Flocks to Hong Kong for Crypto and NFT Trading
Greenland, a Chinese state-owned real estate developer, is planning to apply for a virtual assets trading license in Hong Kong.
This move comes as #HongKong is increasing its regulations in the cryptocurrency space. The license application will be made by Greenland's fintech unit, in which the Shanghai municipal government holds a significant stake.
If approved, Greenland would become the first state-owned entity to obtain a digital assets license in Hong Kong. Chinese banks have already started providing services to crypto companies in the region. Greenland Financial Technology Group CEO James Geng Jing expressed their intention to expand their digital financial business in Hong Kong, considering it as a gateway to the global market. He sees the timing as favorable for Greenland to enter the virtual asset trading business in Hong Kong due to the city's introduction of a new regulatory framework.
Hong Kong has been making significant strides in the #cryptospace, focusing on both offerings and regulations. New rules have already been implemented, and more are expected to follow in the near future. On the other hand, mainland China continues its crackdown on the crypto market, particularly targeting the NFT market. Authorities are taking action against practices like airdrops, rewards, blind boxes, and limited sales, which they view as potentially leading to pyramid schemes and inflated NFT prices.
Hong Kong Embraces Crypto: Fostering Growth and Becoming a Fintech Hub
In contrast to mainland China's approach, Hong Kong is adopting a more favorable regulatory stance. The region is set to implement a licensing process starting from June 1, covering various aspects including #stablecoins , which have been a concern for regulators. Hong Kong authorities have also emphasized to banks that there is no ban on serving crypto firms. Hong Kong aims to rejuvenate its financial hub status by embracing cryptocurrencies and placing a particular focus on web3 technologies. The finance chief has even encouraged investments in web3, considering it the best time to do so.
Overall, Greenland's application for a virtual assets trading license in Hong Kong demonstrates the growing interest and activity in the #cryptocurrency space within the region. While mainland China continues its crackdown, Hong Kong is working towards establishing itself as a fintech and web3 hub in Asia, implementing regulations and fostering an environment conducive to the growth of the crypto industry.
This move comes as #HongKong is increasing its regulations in the cryptocurrency space. The license application will be made by Greenland's fintech unit, in which the Shanghai municipal government holds a significant stake.
If approved, Greenland would become the first state-owned entity to obtain a digital assets license in Hong Kong. Chinese banks have already started providing services to crypto companies in the region. Greenland Financial Technology Group CEO James Geng Jing expressed their intention to expand their digital financial business in Hong Kong, considering it as a gateway to the global market. He sees the timing as favorable for Greenland to enter the virtual asset trading business in Hong Kong due to the city's introduction of a new regulatory framework.
Hong Kong has been making significant strides in the #cryptospace, focusing on both offerings and regulations. New rules have already been implemented, and more are expected to follow in the near future. On the other hand, mainland China continues its crackdown on the crypto market, particularly targeting the NFT market. Authorities are taking action against practices like airdrops, rewards, blind boxes, and limited sales, which they view as potentially leading to pyramid schemes and inflated NFT prices.
Hong Kong Embraces Crypto: Fostering Growth and Becoming a Fintech Hub
In contrast to mainland China's approach, Hong Kong is adopting a more favorable regulatory stance. The region is set to implement a licensing process starting from June 1, covering various aspects including #stablecoins , which have been a concern for regulators. Hong Kong authorities have also emphasized to banks that there is no ban on serving crypto firms. Hong Kong aims to rejuvenate its financial hub status by embracing cryptocurrencies and placing a particular focus on web3 technologies. The finance chief has even encouraged investments in web3, considering it the best time to do so.
Overall, Greenland's application for a virtual assets trading license in Hong Kong demonstrates the growing interest and activity in the #cryptocurrency space within the region. While mainland China continues its crackdown, Hong Kong is working towards establishing itself as a fintech and web3 hub in Asia, implementing regulations and fostering an environment conducive to the growth of the crypto industry.
🚨 #Tether issued an additional 1B USDT on #TRON today
Over the past 90 days, $USDT's #market cap has increased by $2.6B, while $USDC 's decreased by $4.6B 🚀
Currently, #USDT accounts for 65% of the total market value of #stablecoins and $USDC accounts for 21.4% 📈
Over the past 90 days, $USDT's #market cap has increased by $2.6B, while $USDC 's decreased by $4.6B 🚀
Currently, #USDT accounts for 65% of the total market value of #stablecoins and $USDC accounts for 21.4% 📈
🌟 Smart whale that earned $497K from $WBTC just swapped $4.39M in #stablecoins to 174.3 $WBTC at $25.2K on avg during downturn again ~ 18 hrs ago !
- It also bought $WBTC in mass at bottoms twice before (Jun 2022 and Mar 2023 ~ $USDC depeg).
👉 Details: https://twitter.com/spotonchain/status/1669536051290075136
- It also bought $WBTC in mass at bottoms twice before (Jun 2022 and Mar 2023 ~ $USDC depeg).
👉 Details: https://twitter.com/spotonchain/status/1669536051290075136
Wall Street Journal journalists have published an article suggesting that #stablecoins will allow the US dollar to maintain its leading position in the global market and continue serving as the primary reserve currency. Economists Brian Brooks and Charles Calomiris are urging Congress to establish an effective and sustainable legal framework to actively develop stablecoins in the US.
A bill to regulate payments in stablecoins was proposed in July of this year by House Financial Services Committee Ranking Member Patrick McHenry. However, this proposal has faced a series of challenges as a bipartisan agreement has not been reached.
According to Brooks and Calomiris, there are increasing discussions about global de-dollarization. However, the experts emphasize that stablecoins can help avoid such a scenario. This asset class can replicate the post-war scenario when the US dollar became the key international currency.
It's worth noting statistics provided by IMF analysts. According to the data presented, the share of dollar assets held by global central banks has decreased from 73% to 59% over the past 22 years.
Brooks and Calomiris pointed out that the largest outflow of dollar assets is primarily observed from resource-exporting countries. For example, Brazil and Argentina have ratified agreements with China to use the yuan, real, and peso for mutual settlements.
The economists also highlighted that a sustainable de-dollarization could seriously damage the US economy. The essence is that further development of such a scenario would reduce the purchasing power of the American currency, significantly increasing the cost of imported goods.
#Crypto2023 #USDT #USDC #USA
A bill to regulate payments in stablecoins was proposed in July of this year by House Financial Services Committee Ranking Member Patrick McHenry. However, this proposal has faced a series of challenges as a bipartisan agreement has not been reached.
According to Brooks and Calomiris, there are increasing discussions about global de-dollarization. However, the experts emphasize that stablecoins can help avoid such a scenario. This asset class can replicate the post-war scenario when the US dollar became the key international currency.
It's worth noting statistics provided by IMF analysts. According to the data presented, the share of dollar assets held by global central banks has decreased from 73% to 59% over the past 22 years.
Brooks and Calomiris pointed out that the largest outflow of dollar assets is primarily observed from resource-exporting countries. For example, Brazil and Argentina have ratified agreements with China to use the yuan, real, and peso for mutual settlements.
The economists also highlighted that a sustainable de-dollarization could seriously damage the US economy. The essence is that further development of such a scenario would reduce the purchasing power of the American currency, significantly increasing the cost of imported goods.
#Crypto2023 #USDT #USDC #USA