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MakerDAO Transforms into Sky: What Does It Mean for the Future of Decentralized Finance?
The world of decentralized finance (DeFi) has been shaken by a key announcement: MakerDAO, one of the most influential protocols in the blockchain ecosystem, has revealed an ambitious plan to rebrand itself as Sky. This move, which involves significant changes to its operational structure and tokens, has generated both excitement and concern within the crypto community.
The announcement, made on August 27 by Rune Christensen, founder of MakerDAO, involves not only a name change, but a series of updates that directly affect the fundamental pillars of the protocol. The Dai stablecoin, one of the most used in the DeFi space, will be replaced by Sky Dollar (USDS), and MakerDAO's governance token, Maker (MKR), will be transformed into SKY.
Concerns about centralization and control
One of the most controversial aspects of this restructuring is the introduction of a freezing function associated with the new USDS stablecoin. This change has raised alarm bells among staunchest proponents of decentralized finance, who see this feature as a potential step towards centralization.
However, for experts like Sean Lee, co-founder and chief strategy officer at IDA, this move is more a matter of regulatory compliance than centralization. Lee argues that without a freezing function, stablecoins can become tools for illicit activities, which could slow their widespread adoption.
“The freezing function is crucial to ensure that stablecoins can comply with regulations, without attracting negative attention from regulatory bodies,” Lee noted in an interview with crypto.news.
For many in the industry, the ability to comply with regulations is essential to the long-term survival of any stablecoin. #MarketVolatility #marketanalysis #StableCoin #stable
#MarketSentimentToday
The world of decentralized finance (DeFi) has been shaken by a key announcement: MakerDAO, one of the most influential protocols in the blockchain ecosystem, has revealed an ambitious plan to rebrand itself as Sky. This move, which involves significant changes to its operational structure and tokens, has generated both excitement and concern within the crypto community.
The announcement, made on August 27 by Rune Christensen, founder of MakerDAO, involves not only a name change, but a series of updates that directly affect the fundamental pillars of the protocol. The Dai stablecoin, one of the most used in the DeFi space, will be replaced by Sky Dollar (USDS), and MakerDAO's governance token, Maker (MKR), will be transformed into SKY.
Concerns about centralization and control
One of the most controversial aspects of this restructuring is the introduction of a freezing function associated with the new USDS stablecoin. This change has raised alarm bells among staunchest proponents of decentralized finance, who see this feature as a potential step towards centralization.
However, for experts like Sean Lee, co-founder and chief strategy officer at IDA, this move is more a matter of regulatory compliance than centralization. Lee argues that without a freezing function, stablecoins can become tools for illicit activities, which could slow their widespread adoption.
“The freezing function is crucial to ensure that stablecoins can comply with regulations, without attracting negative attention from regulatory bodies,” Lee noted in an interview with crypto.news.
For many in the industry, the ability to comply with regulations is essential to the long-term survival of any stablecoin. #MarketVolatility #marketanalysis #StableCoin #stable
#MarketSentimentToday
5x plus, 153k 🔥
$BLIND 🔥
5x plus, 153k 🔥now 120k
$BLIND 🔥
#MercadoCripto #Finanzas #Uniswap #Trading_strategy #stable $USDC
$BLIND 🔥
5x plus, 153k 🔥now 120k
$BLIND 🔥
#MercadoCripto #Finanzas #Uniswap #Trading_strategy #stable $USDC
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USDC stablecoin is making a comeback
The total market capitalization of Circle's USDC has risen faster than that of rival Tether's USDT in recent months, according to the report.
Circle USDC, the second-largest stablecoin by market capitalization, is making a comeback, with increased liquidity around the world and rapidly growing usage outside the US, leading to strong increase in supply in recent months, Coinbase (COIN) said in a research report on Monday.
"USDC supply has increased by 14.3% or more than $3.5 billion since December 1, 2023, bringing its total market capitalization to $28 billion compared to a lower growth of 8.7 % for USDT over the same period," wrote analysts David Duong and Li Liu. . USDT is Tether's rival dollar-based stablecoin and is by far the largest, with a market capitalization of $98 billion.
The increase in USDC liquidity reflects the "general rebound in retail and institutional demand as cryptocurrencies have entered a new phase of their market cycle following the launch of spot bitcoin ETFs in the US," which contributes to new capital inflows," the authors wrote.
USDC is also building a larger presence in markets outside the US, according to the report, noting that the stablecoin has quintupled its share of spot and derivatives activity, albeit to just 4% of the total. of centralized exchange (CEX) volumes globally.
In addition to the spot ETF catalyst, liquidity growth was boosted by the launch of international exchange Coinbase and the re-listing of USDC pairs on rival exchange Binance late last year, the report added.
USDC is issued by Circle, which in turn is backed by Coinbase.
$USDC #Stablecoins #stablecoin #stable #USDC #USDCstablecoin
The total market capitalization of Circle's USDC has risen faster than that of rival Tether's USDT in recent months, according to the report.
Circle USDC, the second-largest stablecoin by market capitalization, is making a comeback, with increased liquidity around the world and rapidly growing usage outside the US, leading to strong increase in supply in recent months, Coinbase (COIN) said in a research report on Monday.
"USDC supply has increased by 14.3% or more than $3.5 billion since December 1, 2023, bringing its total market capitalization to $28 billion compared to a lower growth of 8.7 % for USDT over the same period," wrote analysts David Duong and Li Liu. . USDT is Tether's rival dollar-based stablecoin and is by far the largest, with a market capitalization of $98 billion.
The increase in USDC liquidity reflects the "general rebound in retail and institutional demand as cryptocurrencies have entered a new phase of their market cycle following the launch of spot bitcoin ETFs in the US," which contributes to new capital inflows," the authors wrote.
USDC is also building a larger presence in markets outside the US, according to the report, noting that the stablecoin has quintupled its share of spot and derivatives activity, albeit to just 4% of the total. of centralized exchange (CEX) volumes globally.
In addition to the spot ETF catalyst, liquidity growth was boosted by the launch of international exchange Coinbase and the re-listing of USDC pairs on rival exchange Binance late last year, the report added.
USDC is issued by Circle, which in turn is backed by Coinbase.
$USDC #Stablecoins #stablecoin #stable #USDC #USDCstablecoin
How many Are you active right now?
Are you ready for the profitable signal ?
#QNT/USDT All take-profit targets achieved 😎
As usual = We are unstoppable 🔥 Total Profit Achieved: 141.3943% 💸
As usual...... we are Unstoppable 😎✨
Follow for more profitable signals.....
Join tg:@harryplayz for exclusive content and take entry in trades at right time without any delay.💯
Don't miss this opportunity🤞 Join now and never miss another profitable signal from me..
Happy Win Trade...🎉✨🚀 Enjoy the profit by like share and comment...🤗
#HotTrends #stable #signalaccuracy #Risk&Reward $QNT
Are you ready for the profitable signal ?
#QNT/USDT All take-profit targets achieved 😎
As usual = We are unstoppable 🔥 Total Profit Achieved: 141.3943% 💸
As usual...... we are Unstoppable 😎✨
Follow for more profitable signals.....
Join tg:@harryplayz for exclusive content and take entry in trades at right time without any delay.💯
Don't miss this opportunity🤞 Join now and never miss another profitable signal from me..
Happy Win Trade...🎉✨🚀 Enjoy the profit by like share and comment...🤗
#HotTrends #stable #signalaccuracy #Risk&Reward $QNT
Signal idea: Long
╔⏤╝𝕡𝕣𝕚𝕔𝕖𝕒𝕔𝕥𝕚𝕠𝕟 𝟝𝟘𝟘╚⏤╗
#QNT/USDT
LONG
Leverage : Cross 10 to 20X
Entry : 118.2 - 117.3135
Stop Loss : 109.1577
Target 1 - 119.0865
Target 2 - 119.6775
Target 3 - 122.66796
Target 4 - 123.1644
Target 5 - 125.93028
Target 6 - 127.28958
Target 7 - 128.51885
Target 8 - 130.11456
╚⏤╗𝕡𝕣𝕚𝕔𝕖𝕒𝕔𝕥𝕚𝕠𝕟 𝟝𝟘𝟘╔⏤╝
🔥Note...‼️👉 This is my personal analysis for educational purposes , Buy/Sell/Trade at your own risk. I am not a financial Advisor #DYOR!!
#HotTrends #Write2Earn #pixel $QNT
╔⏤╝𝕡𝕣𝕚𝕔𝕖𝕒𝕔𝕥𝕚𝕠𝕟 𝟝𝟘𝟘╚⏤╗
#QNT/USDT
LONG
Leverage : Cross 10 to 20X
Entry : 118.2 - 117.3135
Stop Loss : 109.1577
Target 1 - 119.0865
Target 2 - 119.6775
Target 3 - 122.66796
Target 4 - 123.1644
Target 5 - 125.93028
Target 6 - 127.28958
Target 7 - 128.51885
Target 8 - 130.11456
╚⏤╗𝕡𝕣𝕚𝕔𝕖𝕒𝕔𝕥𝕚𝕠𝕟 𝟝𝟘𝟘╔⏤╝
🔥Note...‼️👉 This is my personal analysis for educational purposes , Buy/Sell/Trade at your own risk. I am not a financial Advisor #DYOR!!
#HotTrends #Write2Earn #pixel $QNT
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⚡Ripple: Standard ISO 20022 on board⚡
🔹Ripple's stablecoin expected by the end of the year will apparently be backed at its 1-to-1 parity by cash equivalents, including US dollar deposits, government bonds, and other low-risk investments. According to the company's announcement, the idea is to create a more reliable alternative to assets such as (USDT) of #tether and (USDC) of #Circle .
🔹In fact the #stable market is crowded, but it is also very lucrative. Tether, the first and largest currently dominating the market, is essentially being used as a cash cow to fund Tether CEO Paolo Ardoino's many wild ambitions (from artificial intelligence to decentralized messaging).
🔹The question of whether it is a security won't really be answered until the legal battle with the SEC is over after appeals. Right now it is a complicated situation. Judge Analisa Torres found last year that #XRP is not a default value (specifically when traded on exchanges), but does represent an investment contract when Ripple sells the token to qualified investors.
🔹The company claims that the decision to issue a stablecoin backed by US dollars, along with a “regulatory compliance-focused” approach to create a “superior cross-border payments solution”, has positioned Ripple as a “strong bridge between traditional finance and digital assets, where others offer close ties.
🔹#Ripple is designed to improve efficiency in the financial system, using its network of nodes to validate and verify transactions, with faster and more efficient money transfers, eliminating the need for intermediaries. Its focus on interoperability between different financial systems seeks to facilitate frictionless cross-border transactions.
🔹Ripple's stablecoin expected by the end of the year will apparently be backed at its 1-to-1 parity by cash equivalents, including US dollar deposits, government bonds, and other low-risk investments. According to the company's announcement, the idea is to create a more reliable alternative to assets such as (USDT) of #tether and (USDC) of #Circle .
🔹In fact the #stable market is crowded, but it is also very lucrative. Tether, the first and largest currently dominating the market, is essentially being used as a cash cow to fund Tether CEO Paolo Ardoino's many wild ambitions (from artificial intelligence to decentralized messaging).
🔹The question of whether it is a security won't really be answered until the legal battle with the SEC is over after appeals. Right now it is a complicated situation. Judge Analisa Torres found last year that #XRP is not a default value (specifically when traded on exchanges), but does represent an investment contract when Ripple sells the token to qualified investors.
🔹The company claims that the decision to issue a stablecoin backed by US dollars, along with a “regulatory compliance-focused” approach to create a “superior cross-border payments solution”, has positioned Ripple as a “strong bridge between traditional finance and digital assets, where others offer close ties.
🔹#Ripple is designed to improve efficiency in the financial system, using its network of nodes to validate and verify transactions, with faster and more efficient money transfers, eliminating the need for intermediaries. Its focus on interoperability between different financial systems seeks to facilitate frictionless cross-border transactions.
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#massmedia #smi #fiat #islam #stable
They broadcast information that is very strange and raises suspicions about its authenticity.
Here's a simple example... Allegedly, the UAE has allowed a certain crypto stable tied to a fiat dollar, which brings in a percentage of profit.
What about Islamic banking?
Something doesn’t fit here🤔
Maybe the media are twisting things and only saying what is beneficial to them? Or is this a new strategy?
In general, this news raises more questions than answers!9996344195$SOL $BNB
They broadcast information that is very strange and raises suspicions about its authenticity.
Here's a simple example... Allegedly, the UAE has allowed a certain crypto stable tied to a fiat dollar, which brings in a percentage of profit.
What about Islamic banking?
Something doesn’t fit here🤔
Maybe the media are twisting things and only saying what is beneficial to them? Or is this a new strategy?
In general, this news raises more questions than answers!9996344195$SOL $BNB
TOP #STABLECOINS BY MARKET CAPITALIZATION
TOTAL #STABLE MARKET CAP - $198.92B
STABLE DOMINANCE - 5.98%
USDT DOMINANCE - 69.69%
$USDT $USDC $USDe $DAI $FDUSD $USDD $FRAX $PYUSD $TUSD
TOTAL #STABLE MARKET CAP - $198.92B
STABLE DOMINANCE - 5.98%
USDT DOMINANCE - 69.69%
$USDT $USDC $USDe $DAI $FDUSD $USDD $FRAX $PYUSD $TUSD
#people coin #stable coin #profit able coin
as was predicted that people have a down rate you was a great opportunity to buy.now whoes buy people coin at 0.07946 now they have a great opportunity to sell it on a big profit 😜 you can sell people coin at 0.09167 eaiselly but it depends on you if you can't take more risk and gain profet instantaly then you have a golden chance to sell it
as was predicted that people have a down rate you was a great opportunity to buy.now whoes buy people coin at 0.07946 now they have a great opportunity to sell it on a big profit 😜 you can sell people coin at 0.09167 eaiselly but it depends on you if you can't take more risk and gain profet instantaly then you have a golden chance to sell it
See original
#Tether Under Fire:
Is It Really Trustworthy?
In a multi-million dollar advertising campaign, the asset-backed cryptocurrency Tether is facing harsh criticism from a nonprofit dedicated to financial transparency. This organization accuses Tether of not meeting the standards of clarity and accountability expected in the financial sector, calling into question the reliability and security of cryptocurrencies. The main problem highlighted is Tether's alleged lack of transparency about its reserves of assets.
The non-profit entity claims that Tether has not demonstrated that its coins are fully backed by tangible assets, raising concerns among investors about the stability of the cryptocurrency. These criticisms have caused concern in financial markets. Investors and analysts fear that the accusations will weaken confidence in Tether and the cryptocurrency market in general. The volatility of these assets is exacerbated by uncertainty over Tether's stability, which could significantly impact the value of other cryptocurrencies.
In response, Tether has staunchly defended its practices, ensuring that they are legal and transparent. The company has released statements about independent audits that it says confirm the integrity of its reserves.
However, critics insist on the need for stricter oversight and more detailed financial disclosure.
What do you think? Is Tether being transparent? Share and debate.#Tether #Stablecoins #stable #devcripto
Is It Really Trustworthy?
In a multi-million dollar advertising campaign, the asset-backed cryptocurrency Tether is facing harsh criticism from a nonprofit dedicated to financial transparency. This organization accuses Tether of not meeting the standards of clarity and accountability expected in the financial sector, calling into question the reliability and security of cryptocurrencies. The main problem highlighted is Tether's alleged lack of transparency about its reserves of assets.
The non-profit entity claims that Tether has not demonstrated that its coins are fully backed by tangible assets, raising concerns among investors about the stability of the cryptocurrency. These criticisms have caused concern in financial markets. Investors and analysts fear that the accusations will weaken confidence in Tether and the cryptocurrency market in general. The volatility of these assets is exacerbated by uncertainty over Tether's stability, which could significantly impact the value of other cryptocurrencies.
In response, Tether has staunchly defended its practices, ensuring that they are legal and transparent. The company has released statements about independent audits that it says confirm the integrity of its reserves.
However, critics insist on the need for stricter oversight and more detailed financial disclosure.
What do you think? Is Tether being transparent? Share and debate.#Tether #Stablecoins #stable #devcripto