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In crypto, stablecoins such as Tether (USDT) and DAI vie for dominance. Tether recently hit a noteworthy milestone with an $87.54 billion market cap. However, some argue that decentralized tokens like DAI offer superior features. This article delves into the critical distinctions between them. Tether: overview and market performance Tether, the oldest and
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Kraken will suspend all transactions related to USDT, DAI, WBTC, WETH, and WAXL in Canada in November and December, according to multiple customer emails shared with Cointelegraph.In response to a request for comment from Cointelegraph, a Kraken spokesperson said, via email, “we constantly monitor the assets on our platform to
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The extra payout has drastically bitten into Maker’s profits, Kunal Goel, analyst at Messari noted in a report. “Higher rates on higher deposits ballooned the protocol’s interest expense [and] has dried up profit expectations,” he wrote. The too-high rate also opened up opportunities for arbitrage, Goel added. Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied On Aug. 17, Coinbase, a crypto exchange, will discontinue the trading of USDT, DAI, and RAI stablecoins for its Canadian users from September 2023. This is days after launching operations in the country. Accompanying this announcement, Coinbase
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“We regularly monitor the assets on our exchange to ensure they meet our listing standards,” the note sent to users reads. “Based on our most recent reviews, Coinbase will suspend trading in Canada for RAI Reflex Index (RAI), Dai (DAI) and Tether (USDT) on Aug. 31 around 12 pm ET.” Original
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Recent regulatory actions by the United States Securities and Exchange Commission (SEC) have sparked concerns about the safety and reliability of stablecoins like USDC and DAI as substitutes for fiat currencies. Amid this, Everlodge, a project
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The circulation of Maker’s DAI stablecoin has shrunk by a third over the past year. Original Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Aave has launched its algorithmic stablecoin, GHO, backed by multiple crypto assets, including ethereum (ETH). GHO will be an alternative to DAI, a stablecoin minted by MakerDAO. Aave’s GHO is live After more than one year in development, Aave,
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The platform is undergoing a restructuring that includes breaking up its structure into smaller, autonomous units called SubDAOs and investing in yield-generating, real-world assets to boost protocol revenue at a time when demand for crypto lending is modest. Source
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The move could redefine baseline interest rates in the DeFi space, spurring higher stablecoin lending rates and making leverage more expensive, one analyst noted. Original Source
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