stablecoins | ForkLog

ForkLog 18 03.09.2024

Sberbank Advocates for Legalisation of Cryptocurrency Payments

Russia’s Sberbank supports the recognition of cryptocurrencies and stablecoins as legitimate payment instruments. This was stated by the bank’s Deputy Chairman of the Board and Head of Corporate and Investment Business, Anatoly Popov, in an interview with Reuters. According to him, the legalisation of mining in Russia and the possibility of international settlements in digital […]

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ForkLog 47 26.08.2024

Stablecoin Market Capitalization Reaches Record $168 Billion

The combined market capitalization of stablecoins has reached a new all-time high of $168 billion, marking an 11-month streak of growth. And just like that, we’re at a new all-time high. Total stablecoin market cap, excluding algorithmic stables, is now at the highest point ever, surpassing its previous high from early 2022. New money is […]

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ForkLog 18 23.08.2024

Tether Abandons Plans for Proprietary Blockchain Amid Market Saturation

Tether Holdings, the issuer of USDT, considered launching its own blockchain but ultimately abandoned the idea due to market saturation, according to Bloomberg. The company’s CEO, Paolo Ardoino, stated that the decision was influenced by the basic economic principle of supply and demand equilibrium. “We are very knowledgeable about technology. In the future, blockchain will […]

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ForkLog 37 23.08.2024

MakerDAO Unveils Updated Versions of DAI and MKR Tokens

The DeFi platform MakerDAO has introduced updated versions of its stablecoin DAI and governance token MKR as part of its Endgame roadmap transformation. Endgame introduces NewStable and NewGovToken, the upgraded versions of DAI and MKR. However, DAI and MKR will remain available. Both tokens are expected to stay unchanged for the foreseeable future, unless governance […]

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ForkLog 19 23.08.2024

Plans for Two Cryptocurrency Exchanges Emerge in Russia

Russia is set to see the launch of two cryptocurrency exchanges—one based on the St. Petersburg Currency Exchange focusing on foreign economic activity, while a decision on the other remains pending. This information comes from sources cited by “Kommersant“. The second platform may be established in Moscow. It is yet to be decided whether it […]

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ForkLog 40 22.08.2024

Tron Removes 12,000 BTC from USDD Reserves

The team behind the algorithmic stablecoin USDD within the Tron ecosystem has quietly removed an address holding approximately 12,000 BTC (~$716 million) from the asset’s reserves. This was highlighted by on-chain researcher Symbio. lmao @justinsuntron silently removed the 12.000 btc as USDD collateral recently and it’s now 100% backed by tron (except for 20mil. usdt). […]

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ForkLog 32 21.08.2024

Tether to Launch UAE Dirham-Pegged Stablecoin

Tether has announced plans to develop a stablecoin pegged to the United Arab Emirates Dirham (AED). Tether to Develop UAE Dirham-Pegged Stablecoin Read more:https://t.co/dkiDAI0y15 — Tether (@Tether_to) August 21, 2024 The launch of the asset is planned in partnership with the local technology conglomerate Phoenix Group, supported by Green Acorn Investments. According to the statement, […]

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ForkLog 8 14.08.2024

Stablecoin Issuance Could Propel Bitcoin’s Continued Rally, Says 10x Research

The surge in stablecoin issuance might be the key to sustaining Bitcoin’s rally, according to Marcus Thielen, founder and CEO of 10x Research. #Bitcoin Traders Speculate on Potential Bullish Impact of $2.5 Billion Stablecoin Inflow ?1-10) Monitoring and analyzing crypto money flows is crucial for assessing market conditions that can act as tailwinds or headwinds […]

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ForkLog 41 10.08.2024

Ripple Initiates Testing of RLUSD Stablecoin

Ripple has announced the commencement of a closed beta test for the RLUSD stablecoin on the XRP Ledger and Ethereum mainnet. Testing, testing…RLUSD! We’re excited to share that Ripple USD (RLUSD) is now in private beta on XRP Ledger and Ethereum mainnet. RLUSD has not yet received regulatory approval and therefore is not available for […]

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ForkLog 11 08.08.2024

Ethena Labs Incorporates Solana as Collateral for USDe

Ethena Labs, the issuer of USDe, has added Solana (SOL) as collateral for its “synthetic dollar.” The official token contracts are below, do not interact with any others: USDe: https://t.co/KrR2HFgk6B ENA: 72QvBVwpxqmheEPfaCwWSWqEFsUy3rhWt6JhQBMNTwD1 sUSDe: Eh6XEPhSwoLv5wFApukmnaVSHQ6sAnoD9BmgmwQoN2sN — Ethena Labs (@ethena_labs) August 7, 2024 Previously, users could only use Bitcoin, Ethereum, stETH, or USDT as collateral for the […]

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ForkLog 19 06.08.2024

USDe Redemptions Surpass $100 Million Amid Market Downturn

Since August 5, the issuer of the collateralized stablecoin USDe, Ethena Labs, has redeemed approximately $100 million. This was spurred by a general downturn in the cryptocurrency market. Data: Parsec Finance. The token maintained its peg to the US dollar, slightly dipping to $0.997 before recovering to its target level of $1. According to Parsec […]

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ForkLog 34 01.08.2024

Elixir Launches Decentralized Synthetic Dollar as Rival to Ethena Labs’ USDe

The Elixir team has introduced a “fully decentralized synthetic dollar” called deUSD, positioning it as a competitor to Ethena Labs’ USDe, reports The Block. deUSD is designed to provide liquidity for order book-based decentralized exchanges (DEX). Operating within the DeFi ecosystem, USDe relies on interactions with centralized exchanges and custodians. Like Ethena Labs’ stablecoin, deUSD […]

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