Recent data indicates that Bitcoin transaction fees have been decreasing after the post-halving peak, while Ethereum fees are on the rise. As such, the total amount in fees spent on the Ethereum network has surpassed Bitcoin’s, and the gap continues to grow. The “Feepening” Ethereum Vs. Bitcoin According to information from the cryptocurrency data company...Read More
Recent data revealed that the number of Tether (USDT) transfers to cryptocurrency exchanges had reached an all-time high. Interestingly, this preceded the latest price increases within the cryptocurrency market. USDT Goes To Exchanges According to the data provided from the monitoring resource company, GlassNode, the number of Tether transfers to exchanges has been surging in...Read More
The value of ETH stored on its own Ethereum blockchain has been continuously decreasing in the past year, new research shows. While numerous ERC-20 tokens operate on the network, the growth of stablecoins presents the most substantial threat to cause a future “flippening.” ETH’s Role On Ethereum Blockchain Decreases Per the research provided by Messari’s...Read More
In the cryptocurrency space, there are a lot of different opinions on stablecoins. Vitalik Buterin sees some merit in these assets, although they may not find their core niche in their current state. The stablecoins currently on the market seem to struggle quite a bit. Stablecoins Need to Keep Evolving Only Tether’s USDT is effectively...Read More
Upon printing billions of fresh USDT in the past few months, the most widely adopted stablecoin has become the third-largest cryptocurrency by market cap. Tether has now surpassed Ripple (XRP) with its nearly $9 billion market capitalization. In the meantime, Ripple, which was among the top three cryptocurrencies for the past years, had seen its...Read More
Stablecoins issuance is not artificially inflating the prices in the cryptocurrency market, despite some controversial beliefs, suggested new research on the matter. At the same time, the paper acknowledged their vital role in the digital asset field and predicted that it’s only prone to grow in time. Tether Do Not Inflate The Crypto Market Last...Read More
In brief: The Coronavirus crash of mid-March has resulted in a lot of crypto traders being cautious. The dominance of stablecoins is proof that they are waiting for favorable crypto conditions to get back to trading. Staking crypto on the various exchanges has provided an alternative to trading and/or storing value in stablecoins. The Bitcoin...Read More
The popular cryptocurrency data aggregator, CoinGecko, reviewed the events in the digital asset market in Q1 2020. According to the report shared with CryptoPotato, Bitcoin ultimately ended up losing 11% of its value, but some altcoins and stablecoins managed to record gains and decreased BTC’s dominance. Bitcoin’s Q1 Data The unexpected outbreak of the COVID-19 pandemic put...Read More
The total value transferred on the Ethereum network reached full parity with Bitcoin last week. It’s mainly due to the increasing role of stablecoins in the market as they are responsible for 80% of all transactions on the Ethereum blockchain. Ethereum Network Transfer Value Parity With Bitcoin A publication revealed by Ryan Watkins, a researcher...Read More
The number of circulating Tether (USDT) coins now exceeds 6 billion. Tether, and most stablecoins, have been continuously minting new coins to cope with the growing traders’ demand in times of high volatility and uncertainty in the cryptocurrency market. Over 6B USDT In Circulation The past month was especially turbulent in terms of volatility, to...Read More
Over $1 billion worth of stablecoins is currently stored on certain cryptocurrency exchanges. Such an extensive amount sitting on the sidelines begs the question if traders are simply waiting for a definitive bullish sign to reenter the market. Over $1B Worth Of USDT and USDC On Exchanges As Cryptopotato reported earlier this month, most stablecoins’...Read More
So far, the past month had seen some of the worst days in Bitcoin’s price history. Following the emerging coronavirus crisis, Bitcoin plunged from a high of over $10K in mid-February, to a current low of $3,600 reached March 12. Since then, the price had recovered to the $6,000 area, but March is not yet...Read More
Blockchain and cryptocurrencies expanded their presence and usage in 2019, says JP Morgan. The giant American multinational investment bank filed a comprehensive report regarding the performance of the technology and digital assets in 2019. Bitcoin Adoption Two years after the bank’s CEO, Jamie Dimon regretted calling Bitcoin a “fraud,” JPM issued a 74-page document that...Read More
Today, a news report from Reuters has mentioned, once again, that the blockchain industry continues to develop at an unprecedented speed, and that regulators need to get themselves caught up to speed, or risk behind left behind in the dust. In fact, the report suggests that many of the world’s Central Banks are becoming increasingly...Read More
Cryptocurrency regulations are taking a front-row in high-end governmental discussions. Steven Mnuchin, Secretary of the Treasury of the US, noted that FinCEN is working on introducing several new requirements to counter possible illegal financial activities. FinCEN To Apply New Requirements Yesterday, the U.S. Senate held a hearing to cover the 2012 budget. While addressing many...Read More
Canadian joint venture has launched a new stablecoin pegged to the Canadian Dollar (CAD). Dubbed QCAD, users can trade it against Bitcoin, Ethereum, and USDC, and it’s supported by cryptocurrency custodians Balance and Bitvo. Canada’s First Stablecoin – QCAD Announced earlier today, QCAD is built on top of the Ethereum blockchain, and it’s based on...Read More
The Hong Kong-founded popular cryptocurrency exchange, Bitfinex, has recently launched the newest version of its mobile app, which comes with Bitcoin deposits utilizing the Lightning Network. The update for the mobile app comes less than two months since the exchange added support for the Lightning network to its web platform. The Lightning Network Comes On...Read More
Stablecoins now have a larger share of value transferred on the Ethereum network than its native cryptocurrency – ETH. Even though the continuously increasing interest towards stablecoins appears as a concern to some, Changpeng Zhao believes that they are still needed for mass adoption. Stablecoins’ Flip On The Ethereum Network Yesterday, new research by Messari,...Read More
The last years of the crypto market have been marked with increased volatility, and in order to alleviate the effects of sharp fluctuations, more stablecoins have been launched. The stablecoin is a rather new development in the crypto world. Even if they are also cryptos that run on blockchains such as Bitcoin and Ethereum, stablecoins...Read More
Tether, the issuer of the popular stablecoin USDT, has now launched a new type of commodity-backed token pegged to gold. At the time of this writing, the new token will be issued on the networks of Ethereum and Tron. Tether Launches Tether Gold (XAUt) According to a recent announcement, Tether, the company behind the most...Read More
While several countries and entities are starting to consider launching their own central bank digital currencies (CBDC), Australia might be on the opposite side. The nation’s Reserve bank seems to think that there’s no current need for such a product among customers, as the payment system now is stable enough. No CBDC in Australia The...Read More
The European Central Bank is considering the launch of its own CBDC, according to the bank’s President – Christine Lagarde. She indicates in a recent interview that they need to adjust to this changing world and that the bank will not interfere with any private companies in coming up with a similar digital form of...Read More
The past two years have opened the eyes of the world to crypto currencies. Showing particular interest has been central banks with a number of them developing their own stablecoins and more will be arriving this year. Year of the Stablecoin Many of the existing stablecoins may simply disappear under an avalanche of better alternatives....Read More
The slightly negative attention from institutions towards Facebook’s Libra continues with the German Central Bank’s President Jens Weidmann, saying that they have to slow it down with further regulations. He also notes that banks must improve their payment systems and the E.U. should be more considerate regarding launching e-euro. Weidmann On Digital Euro Ever since...Read More
The Bank of Korea (BOK) is taking another important step towards adopting the trend for central bank digital currencies (CBDCs). The bank will reportedly organize a dedicated task force to build on top of the existing CBDC research and to improve it further. Bank Of Korea’s CBDC Task Force A local report from today shows...Read More
According to recent reports, the Bank of Russia has started using a regulatory sandbox to test the performance of stablecoins. Russia Warming to Stablecoins Russia’s stance towards cryptocurrencies has always been questionable, with the country’s intentions and goals never being fully known to anyone. However, according to recent reports, it may be that Russia sees...Read More
State-backed stablecoins appear to be on the rise in the last several months, and Russia is taking the next step into launching its own. The country’s central bank has reportedly started testing digital currencies backed by real assets in a regulatory sandbox. Russia Tests Digital Assets The head of the Central Bank of Russia, Elvira...Read More
From 2018 onwards, new stablecoins have been pouring onto the markets. Although many are straightforward fiat-collateralized variants on the original stablecoin, Tether, many other projects are also innovating on the stablecoin concept. Therefore, this guide categorizes and explains the different types of stablecoins on the market today. The Rising Popularity of Stablecoins One reason that...Read More
The future of cryptocurrency regulation in the United States remains uncertain. The lack of a clear regulatory framework makes it difficult for market participants to act without fear of reprisal. The guidance issued and actions taken by the U.S. Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and Congress in 2019 provide a...Read More
In this regulatory roundup, we cover a positive crypto story in India, China’s year-end rankings, and the European Central Bank entering the stablecoin race. We also cover the New York regulator’s proposed Bitlicense revision — the first in five years — and several other notable regulatory developments in the crypto space. Also read: Regulatory Roundup...Read More
