Binance is seeing a rising dominance of USDC as regulatory changes reshape the stablecoin market. A year ago, USDC accounted for just 0.48% of Binance’s stablecoin distribution, dwarfed by USDT’s 68.67% share and FDUSD’s 30.84%. However, over the past 12 months, USDC’s presence has surged to 8.26%. This marked a whopping 1,621% increase, according to...Read More
Stablecoin Bank Infini has suffered a security breach that resulted in the theft of over $49 million in USDC. On-chain tracking platforms identified that the attack happened due to an exploiter misusing retained administrative privileges. Ex-Developer Behind the Hack CertiK was the first to detect unusual activity on February 24, reporting unauthorized fund transfers from...Read More
The use of cryptocurrency for payments has seen significant growth, as evidenced by Binance Pay’s expanding user base and transaction volume in 2024. According to data provided by Binance and analyzed by CryptoQuant, the number of Binance Pay users tripled from the previous year, reaching 41.7 million. This rapid adoption highlights the increasing role of...Read More
Historical data has shown that growing stablecoin liquidity is associated with sustained gains in the crypto market. This means that bitcoin’s next rally could be around the corner because stablecoin liquidity is expanding. According to a CryptoQuant report, liquidity impulse for Tether (USDT) and USD Coin (USDC) have begun to expand again, with the latter...Read More
Solana, the second-largest blockchain by Total Value Locked (TVL), has seen its ecosystem grow exponentially, driven by a rapid increase in the market value of its stablecoins. Data from the decentralized finance (DeFi) analytics platform DefiLlama shows that the network’s stablecoin market cap had reached $10.7 billion at the time of writing. Breaking Records Previously,...Read More
USDC issuer Circle has reported that the stablecoin’s circulation increased by 78% in 2024. The uptick made USDC the fastest-growing fiat-pegged crypto asset by market capitalization in the last 12 months. Regulatory Compliance According to the report, the supply of USDC went from a low of $24.4 billion in early 2024 to $43.9 billion by...Read More
Stablecoins have experienced tremendous growth last year. Their collective market cap recently hit a milestone of $200 billion. Beyond the popular ones such as Tether’s USDT and Circle’s USDC, industry players now predict a new wave incoming for “revenue-sharing” stablecoins. 2025 Will Be the Year of Revenue-Sharing Stablecoins According to Delphi Digital’s Research Associate, Robbie...Read More
Circle’s USDC has experienced a significant resurgence as its total circulating supply surged by 80% from its 2023 lows. As revealed by Blockwork’s data analytics manager Dan Smith, the stablecoin’s supply has reached nearly $44 billion as of January 2, 2025. The latest figure represents a stark increase from its 2023 low of less than...Read More
In 2024, euro-backed stablecoins emerged as a critical driver of growth in the European cryptocurrency market, bolstered by the implementation of the Markets in Crypto-Assets Regulation (MiCA). In fact, these tokens have notched a new record in terms of monthly volumes after attracting liquidity and institutional players across the region. MiCA Spurs Euro-Backed Stablecoin Adoption...Read More
On Wednesday morning in Abu Dhabi, Binance and Circle announced a strategic partnership to promote USDC, a stablecoin jointly owned by Circle and Coinbase. The collaboration comes as stablecoins gain traction in mainstream finance and competitors seek to challenge the dominance of market leader Tether. The Alliance Details about revenue sharing in this arrangement remain...Read More
USDT emerged as a leading digital asset in Q4 2024, with 109 million on-chain wallets holding it, more than double the number for Bitcoin and nearing the 128 million wallets that own Ethereum. Beyond on-chain activity, 86 million accounts on centralized platforms have received USDT deposits. USDT’s Dominance According to the second edition of ‘Tether...Read More
Circle Internet Financial Ltd., the company behind the second-largest stablecoin in the cryptocurrency market USDC, announced layoffs following a routine operational assessment. According to the Bloomberg report, the job cuts impact under 6% of the workforce. Despite these reductions, the firm said that it remains committed to expanding geographically and improving efficiency and productivity through...Read More
With a current market cap of less than $200 billion, stablecoins represent a tiny fraction of global financial transactions – just 1% of US money supply and foreign exchange operations. However, a joint report by Standard Chartered and Zodia Markets research suggests significant growth potential, with experts projecting expansion to 10% of the US money...Read More
American crypto exchange Coinbase will stop offering rewards to holders of the USD Coin (USDC) stablecoin located in the European Economic Area (EAA) on November 1. In a note to clients, the exchange explained that the move had been triggered by “new requirements for e-money tokens” that are expected to come into effect with the...Read More
The global stablecoin supply has hit new highs, with Tether (USDT) and USD Coin (USDC) dominating the sector. According to a Bloomberg report citing data from DefiLlama, the market capitalization of stablecoins has increased by 46% this year, reaching a record of about $191.6 billion at the time of writing. Stablecoin Market Value Up 50% Since...Read More
The total stablecoin supply reached an all-time high of approximately $176.2 billion. According to data compiled by Token Terminal, stablecoin supply has steadily recovered after a decline from mid-2022 through early 2023, which likely mirrored broader market retracements during the crypto winter. Since then, the aggregated supply has shown consistent growth. Stablecoin Market Cap Growth...Read More
Fintech giant Stripe has finalized a deal to acquire stablecoin platform Bridge for $1.1 billion. This purchase marks the largest acquisition in the crypto industry to date. Record $1.1 Billion Deal TechCrunch founder Michael Arrington revealed the news in a post on X, stating, “This deal is done. $1.1b.” Bridge, co-founded by Sean Yu and...Read More
Stablecoin giants like USDT and USDC continue to strengthen their hold on the market, expanding their dominance and market share. However, a new contender is making waves – PayPal’s PYUSD. While still relatively smaller, this emerging stablecoin is gaining momentum, signaling a potential shift, as per recent data. Stablecoin Power Shift? According to a report...Read More
The stablecoin market is growing, increasing liquidity and stabilizing the crypto space. This growth can be seen in the two largest stablecoins, Tether USD (USDT) and USD Coin (USDC), which are now responsible for a large portion of the crypto market’s transaction volume. A tweet by the decentralized finance analysis platform IntoTheBlock revealed that USDT...Read More
Palo Alto-based crypto custody firm BitGo has launched a new stablecoin, USDS, that is set to go live in January 2025. The company says the stablecoin will be fully backed by U.S. dollars through a mix of short-term Treasury bills, overnight repos, and cash in a bid to ensure liquidity and minimize risk. New Approach...Read More
The Tether network quietly achieved a 5-month high in new wallet creation, surpassing 31.3K addresses in a single day, and the highest since March 2024. This surge has coincided with rising network growth in Multi Collateral Dai, indicating a broader trend across stablecoins. According to Santiment’s analysis, 732 new DAI wallets were created, representing the...Read More
Stablecoins have reached an all-time high market cap of $169.57 billion following nearly a year of uninterrupted growth. Leading assets such as Tether’s USDT and Circle’s USDC have seen a significant resurgence this year, in addition to a newcomer. Stablecoin Market Cap Surge Data compiled by DefiLlama revealed that this is the highest market cap...Read More
BitMEX co-founder Arthur Hayes’ crypto investment fund Maelstrom announced the launch of the Bitcoin Grant Program that aims to help with the technical development of the largest blockchain network. The focus will also be to improve its resilience, scalability, censorship resistance, and privacy characteristics. On its official website, Maelstrom said that it can support Bitcoin...Read More
The MiCA regulation has created an increased demand for compliant stablecoin, with Circle’s USDC emerging as a primary beneficiary of the trend. In fact, USDC is leading the demand for regulated stablecoins, according to French blockchain analytics firm Kaiko. Increased Demand For USDC After MiCA In its latest report, Kaiko revealed that non-compliant stablecoins account...Read More
Stablecoins have witnessed significant growth this year. Among them, USDT remains a leader, but other ones, such as Circle-backed USDC, are also seeing considerable activity. As such, USDC’s recent deposits to centralized crypto exchanges could signal investors buying the dip amidst several market corrections in recent weeks. USDC Deposits Surge According to IntoTheBlock’s Head of...Read More
Nearly a year after launching on Ethereum, PayPal’s stablecoin PYUSD is being introduced on the Solana blockchain. This move will enable users to choose between multiple blockchain networks, providing greater flexibility and control over their transactions and holdings. PayPal Brings PYUSD to Solana According to the official announcement, PayPal highlighted Solana’s ability to handle a...Read More
The stablecoin sector is not a stranger to controversies, but a recent study questions whether these assets are being widely used as claimed. According to the report, a new metric developed by American multinational payment giant Visa indicates that over 90% of stablecoin transactions aren’t made by genuine users, suggesting that these cryptocurrencies are far...Read More
The stablecoin market has recovered significantly from its plunge in the last two years due to the bear market, recording substantial volumes and activity since October 2023. According to a tweet by crypto market intelligence platform IntoTheBlock, the stablecoin market capitalization is currently at $160 billion, and it is steadily aiming for the all-time high...Read More
Fintech firm and stablecoin issuer Circle has announced that native USDC is now available on the leading layer 2 rollup, zkSync, thereby making it accessible to developers and users without the need for bridging. With the latest inclusion, USDC is now supported on a total of 16 blockchain networks. USDC on zkSync In its official...Read More
Fintech company Circle has announced support for Web3 services on the Layer 1 blockchain network, Solana. Circle said that the latest move highlighted the growing significance of stablecoins such as USDC in aiding a more inclusive financial landscape. The company aims to facilitate accessibility to USDC for both enterprises and developers while emphasizing the importance...Read More
